Police found the 27-year-old victim, identified as Victoria Goode, was stabbed multiple times at around 10 p.m. in the 6th-floor hallway of the building.
The suspect in the killing, 42-year-old Charmaine Crossman, is said to still be on the loose as of Saturday evening.
Surveillance photos of Charmaine Crossman, 42, the suspect in the murder of a 27-year-old woman inside of a women's shelter in Manhattan
Police say Goode was rushed to NYC Health & Hospitals/Bellevue, where she was pronounced dead.
Some residents of the shelter who spoke with FOX 5 NY said that the killing was emblematic of an ongoing safety problem in New York City's shelter system.
RELATED: NYC homelessness hits record number
While the Department of Homeless Services says that around-the-clock security is provided at each site, new data obtained by the New York Daily News shows that around 70% of homeless individuals who have been moved into shelters leave within a week of being admitted.
Anyone with information in regard to this incident is asked to call the NYPD's Crime Stoppers Hotline at 1-800-577-TIPS (8477) or for Spanish, 1-888-57-PISTA (74782). The public can also submit their tips by logging onto the CrimeStoppers website at WWW.NYPDCRIMESTOPPERS.COM or on Twitter @NYPDTips.
Police say all calls are strictly confidential.