Police said the shooting happened just before midnight on Saturday at the boardwalk on Coney Island.
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NYPD said the five victims included a 42-year-old man who was shot in the back and later pronounced dead at a local hospital.
The other victims hospitalized included a 49-year-old woman shot in the leg, a 34-year-old woman shot in the foot, a 46-year-old man shot in the leg and an unidentified man also shot in the leg.
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They were all taken to a local hospital, where they remained stable.
Bystanders on the boardwalk told sister-station WABC in New York that they heard several shots.
"It was like about I don't know, I heard about seven shots, one after the other," one witness said. "It was very quick. I was like, someone is having a celebration of some sorts probably. I didn't see any fireworks though. So, I was like, it might be gunfire, but I wish it was the fireworks."
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There are still so many questions about what led up to the shooting. Were the victims the intended targets or were they shot at random?
So far, there have been no arrests. The investigation is ongoing.