New York would only reopen once the play is down to one part.
The basic idea is that HP will have to be completely re-etched anyway, because of what a monster the show is, so they might as well wait to re-tech it until they have it down to a one-performance show. Doing that work in SF seemed more cost effective than doing it in NY.
The other piece of the puzzle, at least last fall, was that HP would load out of The Lyric in order to make it easier to reconfigure for the shorter version, and the theater might be used for a different limited run play while HP was being reworked. But that was back when Broadway was talking about social distancing and selling at limited capacity, so I don’t know if that is still on the table.
I haven’t heard anything new since last fall, so I can’t tell you what their current plans are.