On October 3, New York City did something very similar to what Toronto did on King Street. It restricted through traffic on 14th Street to only trucks and buses, and turned the street into the city's first "busway."
Under the new rules, cars, vans, and taxis are restricted every day of the week from 6am to 10pm, unless they're dropping off or picking someone up, or entering into a parking garage (i.e. local traffic only). But after this, they need to make the first available right and turn off the street. Again, it's pretty similar to the way things work here on King.
https://twitter.com/travis_robert/status/1179813054235721728?s=20
On the first day of the 18-month pilot program, the buses actually had to slow down in order to keep to their schedule. They were moving too quickly. Previously one of the slowest routes in the city, the M14 bus is now expected to increase its average speed by about 25%.
