This is New York City in 1993... in HD

This footage was captured from a demo tape used by home entertainment dealers showing off the high quality of the new D-Theater (D-VHS) digital video recording. Enabling the recording and display of HD content, D-Theater/D-VHS was the VHS videocassette format's last gasp. From Youtube Pedant:

In 2002 D-Theater launched in the US - the dealers needed a demo tape of HD footage. JVC reused some HD video that had been shot as a demo for the Japanese HD market back in 1993. This footage would have most likely been originally used for a HiVision MUSE demo (an HD Broadcast, Tape & Laserdisc format).

You can determine that the year is 1993 by the adverts in Times Square - The Radio 501 CD that's advertised on a billboard came out in 1993 and Paper Moon is playing at the Marquis Theater.

(Thanks, UPSO!)