An investigation is underway into a deadly crane accident in Manhattan.

It happened this morning just after 3 a.m. near Broome and Varick Streets in SoHo.

Police say 34-year-old Gregory Echevarria of Brooklyn was hit by a counterweight.

That's a weight used to make lifting more efficient by providing stability and balance.

Sources tell NY1 the crew was setting up the counterweight when it slipped and fell, killing Echevarria.

A nearby parking attendant described hearing a loud bang from the accident.

"What hurts is I was here throughout the night and I saw the truck come in. I saw them organize the place. I saw the workers come in so to have realized moments down the road one of those people died. I mean we just want to make a living a go home," the parking attendant said.

Two other workers were taken to the hospital.

Echevarria is the third construction worker to have been killed on the job this week.