It happened on a northbound C train in Midtown just before 1:30 a.m.
Police say the 48-year-old victim was slashed in the neck.
He was able to exit the train at the 50th Street Station and was taken to Bellevue Hospital, where he is expected to recover.
Meanwhile, the suspect stayed on the train and exited at the 59th Street Columbus Circle station.
He has not yet been charged and is being treated for a hand injury.
There is no word on what led to the incident.
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