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NYLogo would be better. Not sure this one is completely worthless, but I don't see a lot of potential. Somebody doing online logo work would lean toward something brandable or more global IMHO.
Why does it matter if they are in NY if it is an online service. Worth a shot at trying to sell to end user in the mid XXX range, but not sure I'd renew this one.
In Germany people using often the word "LOGO" for the example, "sure", "or there you go", "let's go". So why not offer in the German-speaking countries, "lets go to NewYork"