The family and friends of Sean Bell, the man who was shot to death by police outside of a Queens nightclub in 2006, will receive $7.15 million from New York City in settlement funds.

Sean Bell's family is slated to receive $3.25 million; his friend Trent Benefield will receive $900,000, while other friend Joseph Guzman is to receive $3 million, the city's law department told CNN.

Guzman and Benefield were injured in the same hail of police gunfire that killed Bell.

The settlement marks one of the largest such payouts in the city's recent history.

"The Sean Bell shooting highlighted the complexities our dedicated officers must face each day. The city regrets the loss of life in this tragic case, and we share our deepest condolences with the Bell family,” Michael Cordozo, an attorney for the New York City Law Department, said in a statement.

Bell was attending his bachelor party the night before his wedding, and got into a scuffle with undercover police officers, who opened fire on him and the two other friends. In a matter of seconds, the officers fired 50 shots.

Police assert that one of the men had a gun and was going for it but an investigation found that there was no gun present. Officers also said that the men, as they were driving away, did not stop when police told them to do so.

His bachelor party was being held at a strip club in Jamaica, Queens, where undercover officers were investigating for prostitution allegations.

Bell, 23, and the two other men are African-Americans. The case sparked a nationwide outcry against the undercover officers, and police officers in general.

Two police officers involved in the case were cleared of manslaughter charges two years ago and another was cleared of related charges.