N.Y. Comp. Codes R. & Regs. tit. 12, § 8-1.44 – Car and counterweight bumpers and buffers.

(a) All power driven elevators hereafter installed for speeds less than 350 feet per minute shall have provided for the car and counterweight suitable buffer springs or their equivalent.
(b) All power driven elevators hereafter installed for speeds of 350 feet per minute and over shall have provided for the car and counterweights substantial oil buffers.
(c) The function of bumpers or buffers shall be to absorb all of the energy of the fully loaded car and counterweight when descending at the governing tripping speed.
Exception:
Bumpers or buffers are not required for sidewalk elevators.