Police said a man dressed as a FedEx worker was holding a decoy package when he knocked on the door of the Brooklyn home Monday at around 3:00 p.m.
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When the homeowner opened the door, the fake FedEx worker pushed his way in, police said. Another man who was splaying a fake police badge followed.
Police said the two tied up three people in the home -- a man, two women -- and stole $40,000 in cash and $80,000 in jewelry from them, likely from a safe.
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The apparent robbers then fled the scene, possibly in a getaway vehicle.
Neighbor Gary Baxter was working on his model train display when he went outside and saw the suspects pushing a big black safe down the driveway. The suspects then dragged the safe along the sidewalk and into a Jeep, according to Baxter.
"Pushing a box down the driveway, and I'm saying to myself, this is not right," the neighbor said. "I go into the house, grab my phone, had to hurry up and take the picture of the vehicle."
He also took pictures of the victims before removing the tape around them and calling police.
Authorities said the safe contained $120,000 in cash and jewelry.
The New York Police Department believes the victims, who are local business owners, were targeted.
"They were shook up, that's about the size of it, they were practically numb," Baxter said. "No emotion whatsoever."