Well, it is going to be reviewed in court, but right now they are prosecuting any locking knife that can be opened with a wrist flick, including one where they hold it by the blade and use the weight of the handle as a gravity (butterfly) knife. I believe it is a felony charge. They also do random searches on people, so,concealment might not save you.
Hopefully this gets overturned soon, but in light of that, I would recommend a Spyderco UK Pen knife, especially an S30V one if you can get it, or a Spyderco Squeak as an EDC. Design makes it safer than most slipjoints, and they do EDC work very well. The lack of a like makes them much safer to carry as far as the law goes. Even safer, carry a nice SAK, which avoids almost all of the risk of prosecution.
*EDIT* There is a sticky on the front page that says it has already been overturned, still waiting to see if the NYC DA can get it temporarily blocked until appeal I believe.