It comes just days after ISIS, which has claimed credit for the Paris attacks that left 129 dead, threatened to target Washington in another video.
Mayor Bill de Blasio said New York City will not be intimidated after a new ISIS video emerged on Wednesday showing images of Times Square.
"Stoking fear is the goal of terrorist organizations, but New York City will not be intimidated," de Blasio said at a news conference on Wednesday. "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."
The five-minute video shows a suicide bomber making preparations, zipping up a jacket and holding what appears to be a trigger. Other scenes show Times Square and Herald Square, two of New York's busiest crossroads.
It comes just days after ISIS, which has claimed credit for the Paris attacks that left 129 dead, threatened to target Washington in another video.
Stephen Davis, deputy commissioner of public information for the NYPD, said in a statement that some of the New York video footage is not new but "the video reaffirms the message that New York City remains a top terrorist target."
He continued: "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."
Police Commissioner William Bratton said that the video appeared to be "hastily produced."
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"Be aware, but do not be afraid. The NYPD will protect you," Bratton assured residents. "We cannot be intimidated, and that's what terrorists seek to do. They seek to create fear. They seek to intimidate. We will not be intimidated, and we will not live in fear."
Governor Andrew Cuomo added in a statement: "Remember that the terrorists' goal is to let fear win - New Yorkers never have, and we never will."
Next week, tens of millions of visitors are expected to start flooding into the city for holiday celebrations, such as the Macy's Thanksgiving Day Parade and the Christmas tree lighting in Rockefeller Center.
Watch Below: Chilling New ISIS Video Threatens Washington After Paris Attacks