Police say the victim was struck at the intersection of Melrose Avenue and East 160th Street in the Melrose section before 7:13 a.m.
The victim, 21-year-old Genielle Laboriel, was rushed to Lincoln Hospital, where she was pronounced dead.
Both the bus and the woman were traveling north on Melrose Avenue at the time, with Laboriel riding on the sidewalk. The bus was making a turn when Laboriel entered the street and was struck.
Juanita Hernandez saw her neighbor's surveillance camera, which captured the entire accident. That video is now being reviewed by police.
"The bus driver had the light, and he went to make the turn here on Melrose," she said. "And unfortunately, she went right under the bus. The bus driver had no idea that he had hit the girl."
Hernandez said the bus was carrying three or four toddlers, who were uninjured but shaken. They were taken away by police in a van, while investigators questioned the driver.
After seeing the video, Hernadez says she doesn't blame the driver because the victim was wearing headphones and moving too fast to stop.
"You see a lot of stories of bus drivers texting while they're driving and everything else," she said. "But in this case, this was not the bus driver's fault. It was just an unfortunate event."
The bus stopped at the scene, and the investigation is ongoing. No charges have been filed.