Officials say the 28-year-old female victim and the 22-year-old suspect were both inside a building on East 85th Street at the time of the incident on Monday.
They say neither the victim or the suspect lived there and that they were visiting a mutual friend.
Police say the two women got into a fight and the suspect slashed the victim in the leg with a hatchet.
They say the suspect then fled to the roof of the building and climbed down the fire escape.
According to officials, the suspect then got on a bus, along First Avenue. She then gets off at East 86th Street and barricades herself inside a freight elevator.
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NYPD ESU then responds to the scene and removes the suspect from the elevator.
Police say the charges against the woman are pending.
A hatchet was recovered at the scene.
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