As the video emerged just days after the deadly terror attacks in Paris, Mayor Bill de Blasio vowed that "New York City will not be intimidated."
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New York Police Department spokesperson Stephen Davis said authorities were aware of a newly-released IS video that "mentions Times Square."
"While some of the video footage is not new, the video reaffirms the message that New York City remains a top terrorist target," Davis said in a statement.
"While there is no current or specific threat to the city at this time, we will remain at a heightened state of vigilance and will continue to work with the FBI, the Joint Terrorism Task Force and the entire intelligence community to keep the City of New York safe."
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De Blasio praised the NYPD as the most capable police force in the country, "with a robust counterterrorism operation that was just strengthened with an investment of 500 additional officers."
"While Times Square and Herald Square appear in the video, the NYPD in conjunction with all of our partners are taking all necessary security precautions in these areas and areas across the City," the mayor said.
"New Yorkers won't live in fear and people should continue to go to work, live their lives, and enjoy the greatest city in the world," he added.
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