Jay Z, Kanye West Sued by Street Peddler ... You Stole My Song Outside Your Hotel!

Jay Z, Kanye West and Frank Ocean shamelessly stole a song from a guy who was peddling his CDs outside their hotel ... so the street peddler claims in a new, somewhat bizarre federal lawsuit.

Joel Mac says he was outside the Mercer Hotel in SoHo a few years back ... at the same time the famous trio was recording Jay Z's "Watch the Throne" album. Jay, Kanye and Frank had rented a bunch of rooms in the hotel and actually recorded part of the album there.

So Mac says in a new federal lawsuit -- obtained by TMZ -- a guy named Mike Dean bought one of his CDs in front of the hotel, and the next thing he knew his song -- Made in America -- was cut 11 on the album. Jay Z's song is also called Made in America, and gotta say ... they sound similar.

And the plot thickens ... Mike Dean is one of the producers of the album.

Mac had filed a similar case in New York State court a few months ago, but now he's gone federal.

Mac wants Jay, Kanye and Frank to pay him a cut of the profits.