And the transit officials warned people to "avoid below-ground subway stations".
The Twitter account for NY subways said the agency is working to keep trains moving and will bypass affected stations.
The outages come 42 years to the day of an extensive blackout that affected much of the city.
The city's subway system said it was working with the utility and that the outage was affecting Midtown and the Upper West Side.
NYPD and FDNY are on scene, the NYPD announced on Twitter.
Authorities were scrambling to restore electricity to Manhattan following a power outage that knocked out Times Square's towering electronic screens and darkened marquees in the theater district and left businesses without electricity, elevators stuck and subway cars stalled.
It said the outage extended from Fifth Avenue west to the Hudson River, and from the west 40s north to 72nd Street.
Con Edison did not immediately respond to phone messages, and it was not clear how far the outages reached.
Manhattan residents and visitors took to Twitter to post photos of the city without power, including eerie photos and video of pitch-black subway stations.
It has been reported that the NY Fire Department responded to a transformer fire at West 64th St and West End Ave.
While trains are still running despite the outage, the stations without power are being bypassed by trains until power is restored.
Police officers waved people out of the Columbus Circle subway station around 7:30 p.m.
The power outage comes on the 42nd anniversary of the 1977 Blackout which plunged most of New York City into two days of darkness.
13th July 1977: A restaurant with only liquor left after the NY blackout.
Street lights and traffic lights have been put out of action.
NBC News correspondent and anchor, Kate Snow, tweeted a picture of a dark hallway at the network's headquarters, and said staffers were forced to use backup generators to broadcast Saturday's edition of Nightly News.
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