Heard a click, then smelled some smoke......Uh oh

So I have a My Book essential. Have had it for about three years and no problems. Today, boom. This is the drive I have been using to save all my Time Machine backups to my iMac.

Please advise. I am located in NYC.

You need to contact WD by calling them on the phone & possibly file a claim especially if there was fire damage.

“boom” = explosion???

Probably inserted a different power supply cable into it and fried the PCB on the hard drive. It is a fairly easy recovery, TVS diodes need to be checked at D3 and D4 markings.
If you need your data, and don’t feel comfortable with unbolting stuff, and taking the drive out of its enclosure you can contact data recovery company.