The police also posted a photo of the ring that had been recovered - and cleaned - by their officers.
Comments by netizens have been largely positive, with many saying this is what they love about NY, and others praising the city's police force.
Emergency Service Unit officers responded but didn't immediately find the ring, so the couple left.
Investigators say the couple scrambled for help after the man, in an attempt to propose to his companion, dropped the ring eight feet down a utility gate near Times Square shortly before midnight.
Unfortunately for the couple, the NYPD does not have the couple's details, therefore it can't reunite them with the ring.
"Help us find the couple who's marriage proposal went horribly wrong after their engagement ring fell down the drain in Times Square".
According to a Tweet from NYPD, the woman said yes, but the man was reportedly "so excited" that it caused him to drop the ring.
Police released surveillance images and footage of the couple trying to retrieve the ring.