Officers responded to a 911 call of an assault at 34 West 31st Street on Sunday afternoon. Police said all three victims were in stable condition.
CBS New York reports that images from the scene showed an overturned bicycle lying in the street as paramedics set up stretchers near the Hyatt hotel in Herald Square.
Two men were arguing at the scene when one of them pulled out a firearm and began shooting, police said. It's currently unclear what the men were arguing over.
The victims included a 43-year-old man who suffered a gunshot wound to his shoulder, a 25-year-old man with a gunshot wound to the left arm and a 29-year-old man with a gunshot wound to the back, police said, adding that one of the victims was an innocent bystander.
Many residents were in shock and wondering what provoked the shooting.
NYPD Deputy Inspector Robert Hanson said they are searching for at least two suspects. Hanson said they were wearing dark clothing and that they fled on foot.