A series of images from the strike captures a falling projectile slamming into the lower floors of the building, which erupt in a huge fireball, causing the structure to collapse.
Lebanon's state-run National News Agency (NNA) reported a "heavy raid carried out by aircraft of the Israeli enemy" in the Ghobeiri area, near Horsh Beirut, the capital's largest park.
It said the raid had been preceded by two missile strikes on the same target by an Israeli drone.
The strikes followed a call by the Israeli military to evacuate the area.
The evacuation order posted on X by Israeli army spokesman Avichay Adraee told residents to leave, warning of imminent strikes.
"All residents in the southern suburbs, specifically ... in the Ghobeiri area, you are located near facilities and interests affiliated with Hezbollah," Adraee said in an Arabic-language post on X.
"For your safety and the safety of your family members, you must evacuate these buildings and those adjacent to them immediately."
Later in the morning, a second strike hit the Bourj al-Barajneh area of the southern suburbs, an AFP journalist reported.
NNA said two missiles had been fired by an "enemy aircraft".
Repeated Israeli air strikes on south Beirut have led to a mass exodus of civilians from the Hezbollah stronghold, although some return during the day to check on their homes and businesses.
NNA also reported pre-dawn strikes on the southern city of Nabatieh.
The Israeli military said it had struck "command centres" of Hezbollah's elite Radwan Force and launchers used to fire rockets at Israel on Thursday.
It said that over the past day, the air force had hit more than 120 targets across Lebanon, including weapons storage facilities, command centres and a large number of rocket launchers.
Since September 23, Israel has ramped up its air campaign in Lebanon, later sending in ground troops following almost a year of limited, cross-border exchanges begun by Hezbollah over the Gaza war.
Lebanese authorities say that more than 3,380 people have been killed since October last year, when Hezbollah and Israel began trading fire.
The conflict has cost Lebanon more than $5 billion in economic losses, with actual structural damage amounting to billions more, the World Bank said on Thursday.
