Beasley missed a 3-point attempt with 1:44 remaining in the quarter. The ball bounced back out to the 3-point line to Kyle Korver.
Korver fell to the ground to secure the loose ball, before finding James on the right flank.
Beasley saw James at the opposing 3-point line and rushed into the paint in pursuit.
But as he saw the James was revving up for a big throw-down, he changed his mind. James picked up the ball and soared for the jam, but Beasley was already out of the picture, having rushed in front of James and out of the frame, in an effort to not get dunked on.
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Beasley was wearing James' signature shoes during the play, while James' kicks read: "I'm King."
James' flush gave the Cavaliers a 58-44 lead. He had 26 points, 11 assists, six rebounds and a steal in the win. Kevin Love scored a game-high 28 points and had five rebounds for the Cavaliers.
Beasley led the Knicks with 20 points.