VIDEO: bin Laden Killed in U.S. Attack

Update, May 2, 5:28 a.m.: Check out video from celebrations held in Times Square and Ground Zero early Monday after news of the death of Sept. 11 mastermind Osama bin Laden in a raid Sunday in Pakistan.

Osama bin Laden, the Al Qaeda leader responsible for the Sept. 11, 2001 terrorist attacks on the World Trade Center, was killed in Pakistan, President Barack Obama said during a press conference Sunday night.

Northeast Queens leaders said they were overwhelmed by news that bin Laden was brought down by an operation spearheaded by the Central Intelligence Agency.

"This is a good day for America and the world," said Jerry Iannece, chairman of Community Board 11. The lives of 3,000 Americans [killed in the attacks] have been avenged and we have closure for their families. Justice has been done."

Obama said the U.S. was in possession of bin Laden's body.

"His demise should be welcome by all who believe in peace and human dignity," Obama said. "On nights like this one, we can say to those families who've lost loved ones to Al Qaeda's terror - justice has been done."

In a statement, City Police Commissioner Raymond Kelly said bin Laden's death was a "milestone" for the families of 9/11's victims.

"The death of Osama bin Laden is a welcome milestone for the friends and families of those killed on 9/11 and for all who remain tenaciously engaged in protecting New York from another attack," Kelly said.

New Yorker Gerald Farrington was a mail clerk on the 97th floor of Two World Trade Center. He wasn’t on the clock that day, but he said he still remembers friends who were.

“I had a lot of friends who died that day,” Farrington said. “So for me, to know that he's dead, it means, ‘Ok, that chapter is done.’”

The 9/11 attacks claimed the lives of 2,977 people, including 23 police officers, 343 firefighters and 37 Port Authority workers.

"After September 11, 2001, we gave our word as Americans that we would stop at nothing to capture or kill Osama bin Laden," Mayor Michael Bloomberg said Sunday night. "After the contribution of millions, including so many who made the ultimate sacrifice for our nation, we have kept that word."