A 911 caller reported a blue pickup truck, which may have ran over Cali before or after the shooting, was seen driving away from the scene, according to WABC.
An alleged mafia boss has been reportedly been shot and killed outside his home in NY. No immediate arrests were made.
Cali had been considered a unifying figure in the crime family, in the years after John Gotti was convicted and sent to prison by cooperating mob witnesses.
A law enforcement official confirmed the victim was a high-ranking member of the Gambino crime family and is believed to be the acting boss.
The body of former mob boss John Gotti is carried from Papavero Funeral Home in the Queens borough of NY 15 June 2002.
Investigators are probing whether Cali's slaying was sanctioned by New York's five families, or whether it was the work of a rogue gunman, sources say.
Cali is the first family boss to be murdered since the brazen 1985 power play that left Paul "Big Paulie" Castellano bleeding out in the street in front of Sparks Steakhouse and John Gotti on top of the Gambinos.
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On Wednesday, hours before Cali was killed, the reputed boss and consigliere of the Bonanno crime family were acquitted in a Brooklyn racketeering and extortion case.
At one time, the notorious Boston mob boss James "Whitey" Bulger was one of the most wanted criminals in America. He was arrested in 2008 as part of a sweeping indictment by the Justice Department against organized crime but has mostly kept a low profile since.
Last week, the longtime boss of the Colombo crime family, 85-year-old Carmine "the Snake" Persico, died at a North Carolina hospital near the federal prison where he had been serving what was effectively a life sentence. In October, reputed Bonanno associate Sylvester Zottola was fatally shot while waiting for a cup of coffee at a McDonald's drive-thru in the Bronx.
The Genovese, Gambino, Lucchese, Colombo and Bonanno mafia families are believed to have controlled organised crime in NY for decades.
Four days before the meeting, "On The Inside" reported that Cali was the choice among his comrades, who respected Cali's strong low-key, old-world approach to doing business successfully without attracting fanfare or agita.
"Papa! Papa!" one man cried before laying down on the grass, sobbing, the witness recounted.