Man shot by police after allegedly attacking women

A man has been shot by police at an inner-city unit complex, amid reports that an armed offender had attacked two women and threatened officers.

Officers were called to a building in Potts Point, Sydney, about 10.50am on Tuesday, following reports of an armed man entering the complex and assaulting the women, NSW Police say.

"Responding police deployed a Taser; however, this was ineffective," a spokesman said.

"The man allegedly threatened attending officers with the weapon before a police officer discharged a firearm, shooting the man."

A crime scene has been set up, and a critical incident investigation is under way.

The street was cordoned off as ambulance workers and police responded, with a helicopter flying above the scene.

The condition of those injured during the incident is not known.

The investigation will be reviewed by the Professional Standards Command and overseen by the Law Enforcement Conduct Commission.