Police say 86-year old Jack Calvello came out of the house on 38th Street holding a shotgun, and pointed it right at officers.
The incident started when Calvello called 911, telling the dispatcher he shot his daughter and attacked her dog.
When officers arrived, they say Calvello refused to put down his gun, and they opened fire, shooting him in the chest.
He died at Mount Sinai Hospital.
Police found 65-year old Carolann Matyka shot and killed inside the home. Investigators confirm she was Calvello's daughter.
They also found a Yorkshire Terrier with a neck wound. The dog is being treated by the ASPCA.
People were outside enjoying the beautiful weather when they heard the gunshots and ducked for cover.
Bryan Garcia was playing basketball across the street with his friend Eric Soto at the time.
"He came out with the rifle pointing at them, and then they said 'drop it', and they shot him twice," says Garcia, "he pointed the gun at the cops."
"All I hear is 'bong, bong, bong, bong, bong', so I got on the floor," said Garcia, "I knew it was gunshots."
Garcia says he rented an apartment from the man who was shot by police.
"He's a really nice guy. I see him pushing his shopping cart going to the supermarket. I even see his daughter walking his dog. Something that you never think would happen over here," adds Garcia.
Both Garcia and Soto think that police did the right thing in the situation, because the man would have shot back.
"He could have fired at the park, and god forbid; maybe one of us could have gotten hurt," added Soto.