"The term New York minute relates to the fact/idea that New York City is very busy; a lot happens, people are busy and impatient. The term means a period much shorter than a minute, which in New York is supposed to be equivalent to a minute elsewhere.
It is an old joke in New York City that a New York Minute is defined as the amount of time between the light in front of you turning green and the taxi behind you honking (which may be half a second or so).
The expression New York Minute was used as the title of a popular song by The Eagles. "
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