Hundreds of New Yorkers crowded Chinatown on Monday to celebrate the first day of Chinese New Year by detonating ear-splitting firecrackers.

A traditional dance troupe performs during Chinese New Year celebrations in New York's Chinatown January 23, 2012. [Agencies]

Revelers were covered in confetti and a thick cloud of smoke as they watched fireworks experts lit a string of fireworks in the Sara D. Roosevelt Park to welcome the Year of the Dragon.

Meanwhile, New York City Mayor Michael Bloomberg offered his best wishes on Monday to the city's Asian-American community for the Lunar New Year.

"As families come together to exchange red envelopes and commemorate the promise of a new beginning, I want to wish everyone a happy and prosperous Lunar New Year,"said Bloomberg.

"This New Year is especially exciting because it represents the Year of the Dragon - an auspicious symbol of optimism and promise. That's exactly the type of future that - together - we've helped build for our City," he added.

The Empire State Building in New York celebrated the Lunar New Year by lighting up its tower red and gold Monday night, which has been an annual tradition since 2001.