In this part of town, it's not unusual to come across a crew working on a TV or motion-picture production. My first thought, then, was reasonable for New York: An inverted Coca-Cola billboard must the backdrop for a goofy scenario being recorded nearby, product placement in some alternative reality.
But no — reportedly the billboard was hung the right way 'round in December, when it was the season, and only later remounted in this odd orientation. If this is a gag, I don't have a handle on it.
"Tis the Season"
Inverted Coca-Cola billboard on Broome St. (seen from Mulberry St.), New York