You could probably expect to get a C&D letter from NY State for designing a logo like that. At least, plenty of other people have. Google for "i heart nyc trademark infringement" and read the top few links. Apparently they have sent out over 3000 such requests since registering the mark.
Sometimes the claims of infringement are upheld, sometimes not. The more important thing, legally, is that NY needs to show that they are actively defending the mark to prevent trademark dilution.