Trump's legal team had argued that a stay is necessary "given the new and important constitutional issues," the "special considerations arising from" their earlier request to dismiss the case, and to prevent "irreparable harm."
Trump's lawyer Marc Kasowitz did not immediately respond to a request for comment from CNN.
Former contestant, Summer Zervos, has accused Trump of sexually assaulting her in 2007. She claims that Trump kissed her twice on the lips during a lunch meeting in his New York office, and on a separate occasion in Beverly Hills, she claims he kissed her aggressively and touched her chest.
Trump has denied the allegations.
After the lawsuit was filed, Trump's lawyers filed a motion to dismiss the case. They have argued that the president has immunity from such lawsuits in state courts and that the case would run counter to Trump's official duties. They also said that Trump's frequent denials of accusations by Zervos and others were protected political speeches like statements.
In her ruling, she cited Clinton's sexual harassment lawsuit against Jones in 1997, where the United States Supreme Court held that a sitting president is not immune from being sued in federal court for unofficial acts.
Wang claimed that Zervo's account was confirmed "in close detail" by the calendar entries and itineraries from late 2007 to early 2008 – the period that includes the day Zervos says she met and was attacked by Trump. Wang says these documents "are consistent with Zervo's detailed public account with striking accuracy."
Zervos is one of more than a dozen other women who accused Trump of various forms of sexual misunderstanding. The president has vehemently denied all the accusations.
CNN's Lauren del Valle, Sonia Moghe and Brian Stelter contributed to this report.