Struggling New York Knicks point guard Raymond Felton allegedly pointed a powerful, body armor-piercing handgun at his estranged wife during a domestic dispute and was arrested Tuesday morning on weapons possession charges, sources said.

Ariane Raymondo-Felton – who recently filed for divorce – brought the Belgian-made pistol, an FNH 5.7 28mm handgun, to the 20th Precinct on the Upper West Side, and the starting point guard later turned himself in for questioning, sources said.

“The wife is saying they had four verbal altercations since July last year. On the last one, he pointed a gun at her, loaded. It’s a bad ass gun,” a law enforcement source told The Post.

The gun is popular with military and police forces worldwide, and can be loaded with high-velocity ammo capable of piercing bullet-proof vests and other forms of body armor.

Another source said Felton’s gun had an illegal, 20-shot clip that was fully loaded – and had a bullet in the chamber when she handed it over.

The source said that Raymondo-Felton – a 26-year-old law student at Fordham University – told Felton, 29, to remove the gun from her house and only surrendered it herself when he refused.

Felton had tried to turn the gun over to his divorce lawyer, Michael Stutman, who would not take it.

“I don’t think anybody is allowed to posses an unregistered, unlicensed firearm in the city of New York so certainly anyone who offers one to me will be told politely but firmly no thank you,” Stutman said.

Stutman said his client was both surprised and upset when his wife filed for divorce last week.

Raymondo-Felton, accompanied by her lawyer and an unidentified woman, walked into the Manhattan DA’s office about 11:40 a.m. without comment.

The law enforcement source said the gorgeous Raymondo-Felton got fed up with Felton, telling cops her hubby of 19 months was a serial cheater.

“She said, ‘He’s out doing his thing.’ Looks like he was [having sex with] some girl on the side. They were arguing about bulls–t domestic stuff, but on this last one he pulled the gun, she said,” that source added.

Felton, the source said, came to the precinct with his lawyer, James Walden.

“He came in with his white shoe attorney and didn’t say a word except, ‘Hello,’” the source said.

Walden did not immediately return requests for comment.

Felton was later charged with criminal possession of a weapon in the second, third and fourth-degrees after cops determined the gun was not legal, sources said.

He was expected to be arraigned later Tuesday in Manhattan Criminal Court.

Sources said his wife took it from their home on West 63rd Street, where Felton kept it by their bed.

Officers escorted Felton from the precinct through a back door into a black Ford Taurus and pulled away quickly.

The incident was the latest – and most serious – involving the point guard, who is having a nightmare year as the Knicks have fallen to 21 and 36 during a season in which owner James Dolan expected them to compete for the NBA championship.

Felton’s play has been inconsistent at best, and he’s suffered a series of nagging injuries and has appeared out of shape.

When asked by The Post last week if personal issues has affected his play, Felton told reporters, “That’s my personal life. It’s your life. When you’re going through certain things in life, it’s on your mind, no matter what. You try not to let it come into your job and to your workplace but sometimes it does. You’re human. It’s part of life.’’

Felton — whom the Knicks signed two years ago in a vain effort to replace Jeremy “Linsanity” Lin — scored just eight points in the Knicks’ 110-108 loss to the Dallas Mavericks at Madison Square Garden shortly before the incident on Monday night.

He inked a $10 million, three-year contract, and the team failed to unload him by last week’s trade deadline.

A Knicks rep said the team had no immediate comment.

He wasn’t the first high-profile New York athlete to be busted on gun charges.

Ex-New York Giant Plaxico Burress was busted after a pistol he had tucked in his waistband went off in a Manhattan nightclub in 2008, wounding him in the leg.

He served 21 months in prison before he was released in June 2011.