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New York advances to Las Vegas where it will face the Orlando Magic on Saturday.
Karl-Anthony Towns, who was a game-time decision, had a double-double with 14 points and 16 rebounds as New York (17-7) won its fourth straight.
Brandon Ingram had 31 points, seven assists and six rebounds as Toronto (15-11) dropped its fourth game in a row. Scotty Barnes added 13 points, five rebounds and four assists.
This is the first time the Raptors have reached the knockout stage of the tournament this season.
Starting point guard Emmanuel Coakley missed the game with an undisclosed illness. Swingman RJ Barrett of Mississauga, Ont., remains out Monday after receiving a platelet-rich plasma injection in his right knee.
Jamal Shead, who was listed as questionable with a right quad contusion, started in Coakley’s place and was in the lineup for senior Agbaji Barrett.
Shade had a season-high 18 points and dished out seven assists, but Agbaji managed just three points.
Knicks: New York’s offensive defense troubled Toronto in the second quarter, taking advantage of the Raptors’ depth. The Knicks day was particularly tough on Toronto’s reserves with only Jacob Walter (13 points) and Colin Murray-Boyles (four points) scoring off the bench in the first three quarters.
Raptors: Head coach Darko Rajkovic said before the game that a fast start was critical if Toronto was going to win. Ingram delivered 17 points in the first quarter alone as the Raptors led 39-37 after 12 minutes. Barrett and Coakley’s offense clearly missed the mark in the second quarter, however, as Toronto only managed to score 13 points.
Former Raptors forward OG Inobi blocked AJ Lawson’s field goal 4:30 into the second quarter to keep New York’s momentum going for a 12-2 run that swung the game in favor of the Knicks.
Toronto was 5-for-21 (23.8 percent) on field goals in the second, with all six Raptors reserves playing in the quarter.
New York: Travel to Las Vegas to face the Orlando Magic in the NBA Cup semifinals on Saturday.
Toronto: Visit the Miami Heat, who lost to the Orlando Magic in their quarterfinals on Monday.