The front seat passenger, a 22-year-old man from Reading, Pa, was pronounced dead at the scene.
The 17-year-old driver and another passenger, age 16, were rushed to Elmhurst Hospital in stable condition.
The driver lives in Brooklyn and the passenger lives in Queens.
The incident is under investigation and charges may be pending against the driver.
The three were originally reported attempting to steal rims off a parked car on 54th Avenue in Queens.
A woman called police, and the three jumped into the Lincoln Town Car and sped away.
Police officers in a nearby cruiser saw the Town Car pass them at a high rate of speed. By the time the officers caught up with the vehicle, it had crashed into the overpass.
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