El Mundo said the manual sketch and data were on a computer disk seized about two weeks after last year's March 11 train bombings in Madrid which killed 191 people.
Spanish police turned the disk over to the FBI and CIA in December when they understood the scope of the technical data, the newspaper said.
A U.S. Embassy official confirmed that U.S. law enforcement authorities received information related to Grand Central Terminal from Spanish authorities in December. The official declined to give details.
However, CBS News Correspondent Sheila MacVicar reports one Spanish source has said that neither Spanish authorities or U.S. officials put much credence in the sketch, saying it doesn't look very much like Grand Central Terminal.
The police source confirmed the sketch was found in the home of Mouhannad Almallah, a Syrian who was arrested in Madrid on March 24 but later released, although he is still considered a suspect.
Almallah was questioned over his alleged ties to two suspects who are in jail over the Madrid train attacks after witnesses placed them aboard trains targeted in the string of 10 bombs, El Mundo said.
A total of 24 people are in jail over the attack, although at least 40 more who were arrested and released are still considered suspects.
Authorities in New York have from time to time raised security around the train station, and other important New York landmarks. It's not known if there is a link between any of those alerts and the discovery in Madrid.