Members of the New York Police Department's Counterterrorism Bureau stand watch outside U.S. Republican presidential nominee Donald Trump's Trump Tower ahead of the U.S. presidential election in Manhattan, New York, U.S., November 7, 2016.

New York City is spending big on protecting President-elect Donald Trump and his family, and those costs may top $1 million each day, according to a new report.

CNN reported that figure on Monday, citing three city officials. The high tally is in part explained by the next U.S. president living "in the most densely-populated neighborhood of the nation's biggest city," the report said.