According to police, David Trotman, 38, of Queens, was arrested and charged with assault.
The incident happened Sunday around 11 p.m. as the victim was walking near the staircase to the 34th Street subway station.
Sources said the victim was approached by an aggressive panhandler who asked for money.
When the man refused to give up his money, the individual allegedly stabbed the victim in the chest with an unknown sharp object, causing him to fall to the ground.
The victim was transported by EMS to NYC Health & Hospitals/Bellevue in stable condition.
Passengers United Vice President Jack Nierenberg said it’s a known trouble spot.
"The mezzanine down there at 35th and 6th is largely forgotten overnight and as a result, is a haven for homeless individuals, many of them have mental health issues, and they start using drugs, and it becomes a dangerous situation," Nierenberg said.
NYC subway crime statistics
In the first six months of this year, the NYPD said subway crime declined by 4.4%.
For the month of June, subway crime was up 18.2% overall. Arrests by officers of edged weapons like knives were up by 67%.
Riders who spoke with FOX 5 NY that rely on the subway for their work aren’t taking any chances.
"I think it’s very unfortunate and there needs to be something done, especially with the amount of taxes that we pay in New York City," one resident said. "I also think we should be safe riding the trains as well."