Logo was designed by Milton Glaser. You can find his portfolio here
In 1975, the New York commission asked Milton Glaser to create a suitable logo for a public relations campaign aimed at countering New York city’s reputation of being a crime-ridden, dirty and hostiles place to visit. The slogan was ‘I love New York’.
Glaser came up with a typographic solution-‘two lozenge shapes containing the words ‘I love’ in one and ‘New York’ in the other. The design was approved by the State commerce commission
But after a week of the design being approved, Glaser was doodling in a cab and he had another idea. When he told this to Bill Doyle, the assistant commissioner of commerce, Bill thought it will be very complicated to get it approved. But eventually the sketch was approved. Since then the logo has appeared on million of items sold in all over New York.