The fire broke out on West 242 Street in the Riverdale section around 9 a.m.
The fire started in a first-floor apartment and smoke quickly rose through the building.
Residents tried to escape any way they could, including using the fire escape.
Authorities say the fire was set over an ongoing dispute with the landlord.
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The 48-year-old man accused of setting the fire was critically injured along with three other people. Police say he is emotionally disturbed.
Neighbors say another resident helped rescue others and called that resident a hero for helping the elderly escape.
All of the victims are being treated at Jacobi Medical Center and NewYork-Presbyterian Allen Hospital.
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