The 22-year-old, whose name wasn't released, was at 290 E. Fourth St., near Avenue C, about 2:40 a.m. when the suspect shot him in the abdomen, an NYPD spokeswoman said.
"I heard about three shots. They were in a row," said neighbor Hannah Hasseloey, 25.
The victim was treated at Bellevue Hospital where he's in stable condition, police said.
The suspect wasn't immediately arrested and an NYPD spokeswoman didn't offer additional details.
Hasseloey saw a man biking away from the shooting scene, but it wasn't immediately clear if it was the victim or suspect.
She was unsettled by the shooting, she said.
"It freaks me out. There's always stuff going on around here, but nothing major. This is creepy," she said.