[Updated at 6:06 p.m.] Read the full CNN.com story

[Updated at 2:32 p.m.] Mayor Michael Bloomberg of New York acknowledged after that incident that terrorists have targeted New York.

"We have to take every precaution, as you know, because we remain a prime target for terrorists," he said. "That's something all New Yorkers understand and it's something that we need Washington to understand as well."

"We will continue to doing everything we possibly can to protect New Yorkers from terrorist attacks. We have, as you know, built the most comprehensive and sophisticated counter terrorism operation of any local police force in the world."

[Updated at 2:24 p.m.] An all-clear was declared Friday after authorities investigated a suspicious package left in front of a hotel in Times Square and determined that it contained water bottles, police said.

[Updated at 2:10 p.m.] The New York Police Department has deployed a robot to X-ray the cooler that was abandoned in front of the Marriott Marquis hotel in Times Square, police told CNN's Susan Candiotti.

[Updated at 2:15 p.m.] A bomb squad robot has completed its X-ray of the suspicious cooler left in Times Square, CNN's Susan Candiotti reported. But, the results were inconclusive.

Members of the bomb squad are now suiting up to get a closer look.

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[Updated at 2:01 p.m.] CNN's Ali Velshi who is on 47th Street and Broadway reports: "Times Square is entirely empty" on certain blocks.

[Updated at 1:58 p.m.] Kathy Duffy, who is in her office at the Marriott Marquis hotel, told CNN the Times Square Alliance said there was an abandoned cooler left outside. Duffy said officials told her that the bomb squad was trying to determine if it was a threat. She said that the hotel has not been told to evacuate.

[Updated at 1:51 p.m.] A spokesman for the Times Square Alliance says, according to the NYPD, the following streets are closed:

East bound on 46th Street from 8th Ave

West bound on 45th Street from 6th Ave.

And the Broadway and 7th Avenue plaza between 44th and 47th.

44th and 47th Streets themselves are not closed.

[Updated at 1:45 p.m.] The suspicious package that prompted evacuations in New York's Times Square is a white cooler that was left near the front of the Marriott Marquis Hotel, police told CNN.

The area is not far from where Faisal Shahzad left his SUV that had explosives in it.

[Posted at 1:24 p.m.] Times Square has been evacuated after a suspicious package was found near 45th street, a New York Police Department official said.

The package was found near 45th Street and Broadway, officials said.

The evacuation comes six days after an SUV with explosives was left in Times Square resulting in the arrest of Faisal Shahzad.

This story is developing. We'll bring you the latest information as we get it.