NEW YORK (WCBS 880/AP)  -- A gunman dragged a man down a sidewalk, beating him with a pistol, in a possible robbery in front of a Starbucks cafe blocks from Central Park today.

The victim, a man in his 50s, was hospitalized in stable condition after the incident just after 2 p.m. He may have been grazed by a bullet or pistol-whipped in the head. The gunman fled the scene and was being sought.

Reporter Peter Haskell says the crime scene tape is still up near the shooting site, and police are still on the hunt for the suspect who is said to have gotten away with a substantial amount of money.
    
Investigators were looking into reports that the man had just withdrawn money from a bank around the corner. Police also said the man, whose name wasn't released, might have fought with the gunman over a bag before he was hurt.

The New York Daily News is reporting the victim was carrying almost $150,000.
   
Witnesses said they saw the two men fighting near the cafe at 56th Street and Sixth Avenue, about three blocks south of Central Park. The younger man began dragging the victim down the street, hitting him with the gun.
   
Witness Amado Delacruz, of Bayonne, New Jersey, saw a man running out to Sixth Avenue, leaving the victim in the street. He added ``You don't expect this. Not on 56th Street. Especially in front of Starbucks.''

Stay tuned to WCBS on air and online for the latest on this developing story.