At least one person was critically hurt in the crash, which happened at around 7 a.m., police said.
A New Yorker who saw the wreck unfold said he saw two vehicles racing down Second Avenue at a frightening speed.
"They were swerving around cars. When the white car swerved right, it lost control," said Dr. Alvaro Alban.
The vehicle smashed through everything on the sidewalk. A fire hydrant landed down the block. A large tree and a street sign were down. A person on a bicycle was struck, along with three workers at a 24-hour grocery.
"Everything that was in the way, he took it out," said bystander Rafael Fuentes.
The car crashed through the market's flower stand, overturning an outdoor refrigerator case.
Another witness, Najava Stone, said people were hurt by flying debris. He said the car spun before landing in a crosswalk.
Flowers were strewn on the sidewalk and on the crumpled hood of the car. Its front end was obliterated.
Police were investigating whether the driver was impaired.
The other car never stopped, Alban said.