The incident was reported Monday just after 4 p.m.
Officials say 27-year-old Joshua Wiley was shot at the location, but was taken to the hospital and is expected to survive.
During the course of the investigation, a number of people were taken into custody.
Raymond Johnson, 28, somehow escaped from the back of a police car while in handcuffs, but was soon stopped in the middle of the intersection and tackled to the ground by multiple officers.
Exclusive video from the scene shows how it unfolded:
Johnson struggled with the officers before being taken back into custody and carried away.
The officer caught on camera tackling the suspect was treated for a leg injury.
Johnson is charged with attempted murder, assault, criminal possession of a weapon, resisting arrest and escape.
The victim, Wiley, allegedly picked up the gun and fired a shot as well. He's facing two counts of criminal possession of a weapon and reckless endangerment.
Two other men were also taken into custody for fighting at the scene of the shooting.
Levander Floyd, 29, is charged with obstructing governmental administration and disorderly conduct.
Jesse Miranda, 30, is charged with assault.
All four men will be arraigned later Tuesday.
The weapon has not been recovered.
The NYPD says it is policy to rear cuff any person of interest or suspect who is being taken into custody.
An investigation is being conducted as to whether or not Johnson was rear cuffed, before his attempted escape.