Gasp as bottom removed from trousers in New York (4)
I believe the answer is:
pant
'gasp' is the definition.
(I know that gasp can be written as pant)
'bottom removed from trousers in new york' is the wordplay.
'bottom removed from' means to remove the last letter.
'trousers in new york' becomes 'pants' (the American word for trousers).
'pants' with its last letter taken off is 'PANT'.
'as' is the link.
(Other definitions for pant that I've seen before include "Gasp for breath (like a hot dog?)" , "Breath noisily from exertion" , "Long" , "Breathe heavily" , "Breathe hard" .)