Officials have said the building's top three floors were built illegally, although the cause of the collapse is still under investigation.
As they searched the pile of rubble, rescuers occasionally appealed for quiet to listen for any sounds coming from underneath that might indicate trapped survivors.
The incident was a stark reminder of the fragility of parts of Istanbul's residential infrastructure, with several buildings collapsing in recent years.
Neighbor Cemile Dag said the collapse brought to mind haunting images from a deadly natural disaster that hit northwestern Turkey in 1999, destroying thousands of homes.
Turkish emergency services said Havva Tekgoz was found 18 hours after the collapse, and she was immediately rushed to hospital.
A 16-year-old boy has been rescued from the rubble 45 hours after the collapse, Soylu said, adding taht 14 people were also injured.
Rescue workers pulled six people out of the rubble and were working to free more who were trapped.
Initial footage from the incident showed people being pulled out of the rubble as crowds surrounded the site.
However, Mr Kurum told reporters that some apartments had guests at the time of the collapse, without providing details.
Another 13 people were injured, three of them seriously, he said.
Local Turkish media reported that at least one individual was brought out with injuries, while three other people were hospitalized earlier. Yerlikaya urged people to vacate the scene to let rescuers operate more effectively.
Local official Zeki Dag told media that more than a dozen families were living in the block's 24 apartments, and a further 15-20 employees worked in a textile factory located in the building's basement.
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