NSW Police have called for the safe return of 85-year-old Chris Baghsarian. (Supplied: NSW Police)

Police believe an elderly Sydney man who was abducted from his home in a case of mistaken identity is still alive, as officers issue an appeal for his safe release.

Detectives believe 85-year-old Chris Baghsarian was snatched just after 5am last Friday from his bedroom after intruders forced their way into his North Ryde property.

NSW Police have said he was taken by mistake by the group, who law enforcement sources have told the ABC were instead believed to have been targeting a figure with links to the Alameddine crime family.

Police sources have also told the ABC a video of Mr Baghsarian was filmed by his kidnappers and distributed by his captors.

In the vision, seen by the ABC, a man is seen lying on his back with his hands tied and his face covered as one of the kidnappers repeatedly puts his hands over his mouth and nose.

It comes as CCTV footage showed the moment Mr Baghsarian was taken by the group last Friday.

The footage obtained by the ABC shows a person leave a dark-coloured SUV outside a house in the early hours of the morning and walk towards a neighbouring house.

Police are pleading for the safe return of Mr Baghsarian who was bundled into a car and taken on Friday morning.  (ABC News)

Vision captured about five minutes later shows the lights of the neighbouring house turn on, before the car drives up to in front of the house as two people exit the door and a person walk up to the car.

Robbery and Serious Crime Squad Commander Andrew Marks said he was aware of the footage being circulated.

“Look, that’s not ideal in our investigations,” he said.

Mr Baghsarian’s neighbours alerted police after hearing a commotion.

A dark Toyota SUV was identified by police as the vehicle used, and was later found burnt-out near Mr Baghsarian’s address.

The day after his kidnapping, police said Mr Baghsarian had not been the intended target, describing how a group of three people — possibly more — had bundled him into a car before driving away.

Elderly man still alive, police say

Superintendent Marks said investigators believed Mr Baghsarian was alive.

“So at this stage, our view is that he is still alive. And we’re looking for his safe return,” he said.

“And what I can say is that I’m 1 million per cent confident that they have the wrong person.”

Superintendent Marks issued an appeal for the safe release of Mr Baghsarian. (ABC News: Abubakr Sajid)

Directly addressing the kidnappers, Superintendent Marks pleaded for the man to be released.

“This is a very strange appeal, but we appeal to those that responsible to release Mr Baghsarian somewhere safe,” he said.

“Let us know where he is. We’re looking to get him the assistance and the medical assistance and treatment that he requires. And we’ll do the rest. Let us know where he is. Please.”

Superintendent Marks did not confirm whether the intended kidnapping target’s family had received a ransom demand instead of the 85-year-old’s love ones.

“So what I can say to you is that the family haven’t received any ransom [demand],” he said.

“So this is a difficult case because in a normal kidnapping case, we’d be aware of a ransom [demand].

“But because the family are not involved in these type of crime and they’re not involved in that world, they haven’t received a ransom [demand].”

Superintendent Marks asked the public to report any unusual people who they did not normally see in suburban homes and acting suspiciously.

There are concerns about Mr Baghsarian’s wellbeing due his age and because he requires daily medication.