Update: It has been reported that the man killed was Troy Ave affiliate Banga.
Banga was also the owner and head trainer at Big Bizz Fitness in Brooklyn.
Maino and Uncle Murda were performing when the gunfire went off shortly after 10pm.
A 26-year-old woman and a 30-year-old man were both shot in the leg. The man was later identified by XXL Magazine as New York rapper Troy Ave.
Police said a 33-year-old man was shot in the stomach but later died in hospital. A 34-year-old man was also shot in the chest and is listed in critical condition.
Concert-goer Ayo Fagbemi said he heard two gunshots “and right after there was a stampede”. As soon as people began trying to leave the venue, he said he heard a third shot.
Another witness, veteran music journalist Paul Cantor, explained how he had seen a fight break out in the backstage area on to the stage: “There was a body that came across the stage, sort of with flailing arms.”
A fourth victim was driven to New York University Medical Center in an SUV.
Video shot inside the venue showed a chaotic scene where people tried to flee the area as a group tended to a person on the floor.
Gunshots just went off at the T.I concert, never been so scared in my life pic.twitter.com/rn0CjpAuaU
— Marco (@markygeezy) May 26, 2016
No arrests have been made, police said.