The plan allows for non-essential retailers to reopen with curbside or in-store pickup.
It permits operations in construction, manufacturing, wholesale trade and agriculture, forestry, fishing and hunting to resume.
Transit authorities will begin service for subway trains and resume regular weekday/closed school service in Brooklyn, the Bronx Queens and Staten Island.
Buses in Manhattan will be allowed to return to 75 percent service.
The reopening allows about 400,000 people to return to work and tens of thousands of construction projects will be revived.
There had been 72 new hospitalizations for suspected coronavirus cases, a fraction of the figure the city was reporting in March and April. More than 300 remain in intensive care units and about 4 percent of the city is currently testing positive for COVID-19.