Police hunting the killers of a Sydney gangland king pin shot down in broad daylight have made two key discoveries.

The victim of Tuesday’s brazen shooting in a car park near the city’s busy Bondi Junction has been widely identified as Alen Moradian, a notorious Sydney underworld drug lord with links to the Comanchero bikie gang.

Police are yet to formally name him, saying only that a 48-year-old man with an extensive criminal history was ambushed and executed in the underground car park of an apartment building about 8.15am on Tuesday in Spring Street, near the busy Westfield Bondi shopping centre.

As police continue to hunt for those involved in Mr Moradien’s brazen shooting, they spent much of Tuesday afternoon examining a partially burnt-out luxury Porsche that was found abandoned on nearby James Street with its doors flung open. A gun was found inside that car.

It has been sent for forensic examination to determine whether it was the murder weapon.

The exterior of the $130,000 Porsche was reportedly undamaged, despite the fire. It had minor damage inside, and will be examined for fingerprints.

Another car found at Zetland shortly after the shooting is also being forensically examined as police attempt to track down those responsible for Sydney’s latest underworld killing.

They believe at least two killers were involved in shooting Mr Moradien.

On Tuesday, Detective Superintendent Danny Doherty from State Crime Command’s Homicide Squad said police were treating the shooting as an organised crime murder.

“This was a well planned and executed murder of a high-level criminal identity,” he said.

“He’s a major player.

“He obviously had a target on his back.”

Nicknamed “Fathead”, Mr Moradian was arrested in 2007 along with his wife Natasha Youkhana and others over what police at the time called one of the largest cocaine and money laundering rackets in NSW history.

He was sentenced to 16 years and nine months in jail for importing and supplying cocaine.

During the trial the court was told Mr Moradian and Ms Youkhana lived a life of luxury, using drug money to buy property, designer furniture, jewellery, a wedding reception, luxury travel and accommodation.

An email showed Ms Youkhana urging her husband to be more like “Tony Soprano”, for fear their over-the-top lifestyle would result in them getting caught.

“Why do you just sit there and show off – ‘I am the man, I am the man’?” the email, tendered in police facts, read.

“Do you see Tony Soprano doing that?

“He doesn’t care who people think is the boss, [money] is his No.1 priority.

“You, on the other hand, want the attention, you get a big head, you love it.

“People like that won’t survive.”

-with AAP