The accident happened just before 4:00 p.m. on Monday at 52nd Street and 7th Avenue.
According to investigators, a cab struck another cab traveling south on 7th Avenue. The second taxi careened toward the sidewalk.
Police say that one of the cabs ran a red light.
The cab struck a pole and a pedestrian standing near.
He was taken to the hospital along with the driver of one of the cabs. The nature of their injuries was not known.
The pedestrian was standing with his wife and two children at the time of the accident, officials said. They were not injured.
The cause of the accident is under investigation.