The city is expected to get snow overnight, and the wintry mix and strong wind gusts could bring some transit service disruptions and power outages.
All five boroughs are under a winter weather advisory until noon Friday
A coating to an inch of snow is expected to accumulate overnight in some areas, but many areas may not see any accumulation at all.
Winds were expected to continue to gust up to 40 miles per hour, reaching as high as 50 miles per hour in some areas, through the rest of Wednesday evening and into Thursday.
A wind warning will remain in effect until 6 p.m. Thursday.
The area is expected to see a mixture of light rain and snow both Thursday and Friday as the storm remains in the area.
The city announced that Rockaway Seastreak ferry service will be suspended Thursday as a result of a marine forecast for gale force winds.
The combination of wind and wet snow could bring down trees and cause power outages. Con Edison has already started to mobilize hundreds of crews to deal with downed wires and other issues.
City officials said preparations are well underway.
"Sanitation is preparing for the worst case, for up to six inches or more of snow, just to be ready for it," said Sanitation Commissioner John Doherty. "Right now, we have 40 spreaders ready to go out tonight when it starts snowing and there's a need to do any salting and treating the roadways."
Governor Andrew Cuomo said the Office of Emergency Management is monitoring the storm and advised New Yorkers to charge cellphones and keep flashlights and other emergency supplies handy in homes and cars.
Metro-North, Long Island Rail Road and above-ground subway service could be affected. Visit mta.info for the latest transit updates.
A flood warning was in effect at the coasts of northern Manhattan and Queens and the Bronx through 8 p.m.
Water levels at the Kings Point gauge in the Bronx recorded tides near 10 feet Wednesday evening.
The storm, and the snow, rain and coastal flooding that was projected to come with it, didn't seem to scare folks on City Island.
"It will stay like this," said Charles Evers, a City Island resident. "I don't think it's going to get much worse. A little snow, maybe."
"Bring it on," said Eileen Fox, a City Island resident. "I've been waiting all day for it to happen. I'd like to see some weather for a change."
Resident who have lived on City Island for years said they have a hunch for when things will get really bad and when it won't.
"Heavy winds coming out of the northeast because the sound is shaped like a funnel, so when you get heavy winds blowing down the sound, it pushes all the water down, too," said Dylan Lutomski, a commercial fisherman.
In the Rockaways section of Queens, some residents who endured Hurricane Sandy are concerned that the routine nor'easter could cause more beach erosion, but others are not worried about storm preparation.
"We have candles and flashlights and things like that, portable radios and things. So we're prepared. We've been through it a few times so we know what to do now," said a man in Rockaway Beach.
Scattered snow showers and strong wind gusts are expected throughout Thursday, though no accumulation is expected during the day. A second round of moderate snowfall could come Thursday night and bring accumulations of two to three inches.