McKean was hit at West 86th Street and Broadway just around 3 p.m. when a car jumped a curb, smashing its windshield and knocking over a mailbox, police said.
The actor laid bloodied on the street with a broken leg and head injuries, CBS 2's Hazel Sanchez reported.
McKean, a New York City native, was taken to St. Luke's Hospital.
Theatre fans eager to see the actor perform in the "Best Man" on Broadway were shocked to hear why he didn't make it on the stage Tuesday night.
"Oh that's awful! I'm so sorry," said one fan.
Locals said accidents are nothing new at the busy intersection.
"I know that there's often accidents in this type of setup," Rebecca Lown told CBS 2's Sanchez.
"It's an extremely busy intersection and as in most busy intersections in New York City, people are always trying to get the last bit of time on the green light," resident Stan Harrison said.
McKean's manager said Tuesday night was the first time in the actor's entire career that he had ever missed a show and he was very proud of that record. Fans said he was sorely missed.
"That's just terrible. I hope to God everything will be OK with him," producer Barry Kaye said.
"Please get well soon. Broadway wants you back soon," Steven Cole added.
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