The New York City subway is a core part of the infrastructure and transportation in the city. The subway is owned by the city of New York and leased to the New York Transit Authority. It is one of the oldest subway systems and one of the largest in the world, with about 472 stations in operation.

No, the New York City Subway is not privately owned; it is a public entity managed by the Metropolitan Transportation Authority (MTA), which is a New York State public-benefit corporation. While the subway's origins in the early 20th century involved private companies—the Interborough Rapid Transit Company (IRT) and the Brooklyn–Manhattan Transit Corporation (BMT)—the city took over all private operations in 1940 to unify the system. Today, the infrastructure, tracks, and rolling stock are owned by the City of New York but are leased to the New York City Transit Authority (a branch of the MTA) for operation. Although it is a public service, the MTA often faces criticism for its complex governance structure, as it is controlled by a board appointed by the Governor of New York, the Mayor of NYC, and surrounding county executives. This "public-benefit" model allows the subway to operate as a non-profit utility, though it relies heavily on a mix of passenger fares, dedicated tax revenues, and government subsidies to function.