The taxis collided while heading northbound on Sixth Avenue near West 37th Street just after 1:30 a.m.
One taxi driver said the other cab cut him off after spotting a customer on the other side of the street.
"I cross from the left hand side to pick a customer, and it was too close to save the accident," driver Jacob Owusu said. "He cut me off. For a fare...He came from the other side. The left side there. He crossed. He saw the customer first, I didn't see the customer."
The vehicle jumped the curb and crashed through the scaffolding and into the front of the building.
One taxi driver received oxygen at the scene and was later taken to the hospital.
The cab driver who said he was cut off was not hurt.
Luckily, no pedestrians were walking on the sidewalk at the time.
Crews worked to disassemble and remove the scaffolding so that the car could be cleared.
The crash occurred just nine blocks south of where another taxi jumped the curb Tuesday morning, striking an English tourist who later lost part of her leg.