The 14-year-old German pitbull mix, named Eli, was injured at around 8.30pm on Saturday near East 106th Street and East Drive.

The dog's owner, a 43-year-old woman, was walking with her partner when the attack is alleged to have taken place.

She told police "an unknown individual stabbed her dog after a verbal dispute," according to officials.

The New York Daily News reported the attacker was walking three unleashed dogs, who allegedly bit both the pitbull mix and a Chihuahua the owner was also walking.

The assailant is then said to have fled shortly after the stabbing.

The dog was rushed to a local animal clinic, where it was euthanised due to its injuries - the Chihuahua was not hurt during the altercation.

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No one has been arrested and the investigation continues, police said on Sunday.

According to NBC News, a police spokesperson did not immediately respond to questions about whether police had a description of a possible suspect or what kind of charges he or she could face if apprehended.