Men in suits hold up jewelry store on Madison Avenue

MIDTOWN (WABC) -- One suspect is in custody and two others are still being sought after a holdup at a Midtown jewelry store Tuesday.

The men, dressed in suits, ties and fedoras, held up the Tourneau store on Madison Avenue and 53rd Street just before 1:20 p.m.

They smashed several display cases with a hammer in the Rolex part of the store. One of the men had a semi-automatic weapon and fired two shots, authorities say.

A retired NYPD officer was inside the store at the time and called 911.

An officer outside then spotted one of the suspects nearby at 58th St. and Park Avenue and took him into custody.

The other two fled north on Park Avenue.

The two suspects are wearing black suits and shirts, red ties, white sneakers and fedoras.

One was wearing a blue jacket and the other a red jacket.

Police last saw one of them at East 60th Street and Third Avenue.

Police say the men made off with several dozen Rolex watches, and the suspect who was captured had some of the merchandise inside a duffel bag.

No one was hurt. Police are examining surveillance video from the store for evidence.