Good but you're over the cap

He would be over the cap if this was for the whole year. NYR can absorb almost 10M in cap space as of today.

Can you elaborate?

It's kind of a complicated system, but cap hits throughout the season become "pro-rated", so since the Rangers have had $1-3 million in cap space throughout most of the year, they can be over the cap at the end of the year and their daily average is still under the cap.

Or in a simpler explanation, let's say the Rangers bring in Shattenkirk without moving a roster player. His $4.25m cap hit would put us over. But because he played for St. Louis for ~2/3 of the season, the Rangers get him for 1/3, and the cap hit is 1/3 of $4.25m, allowing him to fit under the cap. Basically STL paid part of his cap hit already so there is less of a hit on the Rangers.

Did not know that thanks for the clarification. Very helpful when creating future armchair gm teams