It happened on the 900 block of Arch Street in Chinatown at a jewelry store.
Police say around 3 p.m., a man entered the business with a gun. The store owner, who did not want to be identified, said the suspect threatened his wife, who was behind the counter, with the gun.
The suspect then allegedly used a hammer to smash a glass case, stealing four trays of expensive gold jewelry.
Thankfully the store owner's wife wasn't injured.
"It was scary of course, the gun on the guy's hand, so she was scared," he said.
Surveillance video nearby shows the suspect approaching the store. Police said he was wearing a white shirt, gray pants, a white mask, and white sneakers, and was carrying an orange bag.
After two or three minutes, the suspect is seen on video again leaving the scene on foot. He was last seen heading westbound on Arch Street towards 10th Street, according to police.
Heidi Valery of Deptford, New Jersey, happened to be in the area with her family and believes she encountered the armed robbery suspect moments after the crime.
"He came out of the store. He had a white hoodie on and it was all closed, like he cinched the hoodie. So I'm like how does that man see when his whole hoodie is closed in on his face?" Valery said.
"His hat fell off and I said, 'Sir you dropped your hat.' And he said, basically, told us not to worry about it and kept going and I was like I hope nothing happened in there," she recalled.
The store's owner says he usually closes the store early for safety reasons and never expected this would happen in the middle of the afternoon.
He says he may now make even more changes.
"I will be thinking about more safety. Maybe I don't put too many products in the store," he said.
Police say their investigation remains active and ongoing. Anyone with information on the suspect is asked to contact the police.