It happened around 4:30 p.m. in front of Farmers Boulevard and 133rd Avenue on Friday afternoon.
42-year-old Jamal Green was pronounced dead at the scene. He was known as Mazaradi Fox and was a member of 50 Cent's "G-Unit".
A 21-year-old man was also critically injured in the shooting and taken to Jamaica Hospital.
A 22-year-old man was taken to North Shore Long Island Jewish Hospital in stable condition, and a 32-year-old woman was rushed to Jamaica Hospital in stable condition.
There are reports that a male suspect fled in a black Hyundai Sonata.
50 Cent tweeted, saying he's "saddened by the news of Mazaradi's tragic passing", and that his thoughts go out to his family and friends.