The victim in Wednesday morning's shooting has been identified as Dejon Robinson, 21, of Green Street, according to Albany police.
Robinson was shot twice in his torso in front of 271 Second St.
He is still hospitalized at Albany Medical Center. His condition is unknown.
The investigation is continuing as police search for the assailant.
Meanwhile, police have also released the names of the two Albany men who were arrested Wednesday for weapons possession and reckless endangerment after they allegedly fired at least one shot from an SUV they were driving at 11:20 a.m.
Kolby Martin, 27, and Eddie Peebles, 28, were arrested after a foot chase in the area of 20 Buel Street.
Both men were in an SUV at Judson and Second streets when one of them allegedly fired a handgun from the vehicle at an unknown person. A police sergeant witnessed the incident and pursued both in his patrol car when they fled the scene in the SUV.
Both suspects abandoned the vehicle on Buel Street but were caught by officers after a short foot chase.
Martin sustained two broken ankles as a result of a fall while attempting to run from officers. He was taken to St. Peter's Hospital for treatment. Officers recovered two handguns during the investigation.
It is not clear if the two shooting incidents are connected, police said.