The incident comes amid a reported increase in hate crimes against a number of minority groups since the nation threw its lot behind President-elect Donald Trump.
Yauch, the Jewish rapper, died of cancer in 2012 at the age of 47. The park was named after him one year later.
The incident is just one in a string of similar recent occurrences which have caused concern for the Jewish community over the last few days.
Indeed, a swastika was also recently sprayed on the door of Jewish student dormitories in one of the universities in the city while another one was drawn on the entrance of a building in Manhattan in which a Jewish senator lives.
Despite the fact that Trump condemned these incidents and often expresses his pride that his daughter Ivanka is Jewish, his actions have irked many in the Jewish community, particularly his recent appointment of Stephen Bannon as his chief strategist in his embryonic administration. Bannon has been criticized in the past for comments carrying anti-Semitic undertones.
The perpetrators of the vandalism are not yet known to the authorities.