The man was attacked at 126th Street and 26th Avenue in College Point just after 5:35 a.m.
A verbal dispute from some kind of traffic incident apparently escalated.
The victim was stabbed in the head, arm and chest with a meat cleaver.
He was taken to New York Presbyterian Queens, where he is in stable condition.
No arrests have been made.
The suspect is described as an Asian man, wearing a white shirt and jeans.
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