The speeding driver ran the light in front of the fire station at East Snyder and 4th Street and almost immediately struck the victim.
It happened around 9:30 p.m. on Christmas Day.
Surveillance video shows the victim crossing East Moyamensing Avenue while wrapped in a blanket.
He attempts to cross East Snyder Avenue as the light turns red after looking down the street.
A speeding driver then blows through the red light and hits the man.
A second angle shows the taillights of the car leaving just after the impact.
The whole thing happened in front of the people in a nearby SUV, who stopped and eventually got out and stayed until police arrived.
Police believe the victim's body hit the back of the SUV. The vehicle's owner showed Action News the damage.
Selena Xie said she doesn't care about the damage, but rather the loss of life.
"I'm so upset," said Xie. "I was crying because it's so sad so sad. Christmas Day and nobody wanted that to happen. The guy just run away, I was shocked."
The striking vehicle is described as a four-door silver or tan sedan.
Police say several witnesses called 911 and that medics pronounced the victim dead roughly 10 minutes after arriving.
A large crowd gathered in disbelief as crash investigators worked the scene.
Police say they found pieces of the car in the road and that their goal will be to track down more video to get a better description of the car.
Investigators do not know the victim's name, only that he's believed to be in his 40s.
Anyone with information is asked to call police at 215-686-TIPS.