The deadly incident happened around 2:30 a.m. on Sunday on 86th Avenue in Richmond Hill.
Upon arrival, responding officers found a 41-year-old man with a stab wound to his chest. Police also found a 32-year-old woman who suffered a slash wound to her arm.
First responders transported both victims to Jamaica Hospital Medical Center, where the man was pronounced dead. The woman is expected to recover from her injuries.
Investigators are looking into the relationship between the two victims.
The NYPD says they are looking for a person of interest, described as a man last seen fleeing from the scene.
Authorities are also trying to determine a motive for the attack.
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