Police say the incident happened around 8 p.m. at Beach Channel Drive between Beach 56th Street and Beach 57th Street in Far Rockaway.
Officers were conducting an investigation at a building and while approaching the lobby, two men took off.
Police say they caught one of the suspects, but the other pulled out a gun. The officer shot the armed suspect in the torso.
The suspect was taken to Jamaica Hospital where he died.
Officials say the second suspect attempted to escape, resulting in a violent struggle.
"We have some internal video that shows a violent struggle for 20 seconds," NYPD Chief of Patrol John Chell said.
Police released a picture of the gun one of the suspects was carrying, but they do not believe he fired it.
No officers were injured in the incident.
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