Olapido regained his starting role after the Magic bought out the contract of Glen Davis earlier in the day, and the rookie responded with a standout performance, barely missing a triple-double with nine rebounds.
Olapido scored seven of his total late in the second overtime and Arron Afflalo pumped in 32 points for Orlando, which rallied from a 14-point third-quarter deficit en route to a sixth win in seven home games.
Tobias Harris helped out with 22 points and eight rebounds.
The Knicks got 44 points and 11 rebounds from Carmelo Anthony but it wasn't enough to avoid their fourth loss in five contests.
2014: The Year in Music [PHOTOS]