Officers responded to 251 W. 42nd St. for a reported stabbing around 5:30 p.m.
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They found a 17-year-old boy with a stab wound to the lower back.
Police say the victim and suspect got into an apparent dispute prior to the stabbing.
He was taken to NYC Health + Hospitals/Bellevue in stable condition.
Seven persons of interest have been taken into custody, and police are looking for 10 additional males, according to authorities.
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"I saw someone running and the cops follow him," said Belal Mohamed," a vendor nearby, who saw officers taking down a suspect and arresting him. "I was scared because I see someone with blood coming from everywhere, from the back."
Police later recovered the knife nearby and what appeared to be a part of a broom handle.
Meanwhile, less than two hours later, another dispute in Times Square took place around 7:25 p.m.
Police say a 28-year-old man was assaulted following a verbal dispute with three men outside the Hard Rock Café in front of 1501 Broadway.
They say the man was punched and kicked in the face and head.
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All three suspects were taken into custody at the scene.
The 28-year-old victim was taken to NYC Health + Hospitals/Bellevue, where he's expected to survive.
Police sources told Eyewitness News that the two incidents don't appear to be connected.
Investigations are ongoing in both attacks.
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