A new record low temperature was set in Central Park this morning with the mercury dropping below nil at around 7 a.m.
Temperatures will be mostly in the single digits Sunday morning.
The peak of the arctic blast came Saturday night and will continue through noon Sunday, when wind chills could go as low as 10 to 20 degrees below zero.
The Department of Emergency Management says the frigid temperatures can be life-threatening for seniors, infants, and people with chronic medical conditions.
Mayor Bill de Blasio says the city has activated its Cold Blue status through Sunday night to make sure the homeless are off the streets and indoors.
The mayor says New Yorkers should take every precaution necessary in the extreme cold.
"You should take this weather very, very seriously. We don't see these temperatures very often and they can be life threatening," De Blasio said.
At least one New Yorker who spoke with NY1 on Friday said being prepared is the best way to fight the cold.
"It's not the coldest that's it's been so far. I guess you just have to stay warm and brace for it. Can't really do much but bundle up and drink lots of tea or hot chocolate or coffee to keep warm," said the passerby.
Meanwhile, the Central Park Conservancy says its fifth annual Central Park Ice Festival scheduled to take place this Saturday has been canceled due to the expected sub-zero temperatures and high winds.
The event will not be rescheduled.
For more cold weather tips and information, visit nyc.gov.