Knicks give: Crawford, Richardson, Penny
Knicks get: Mike James, Mo Pete, Jalen rose

Why for Raps? Financial cap relief exchanging Rose for Penny. James will not return after his contract is up, so they'd be losing a quality player with no compensation (and the resulting cap relief isn't all that substantial). Maybe they believe in Craw & Q... who have talent, but are not performing well in NY / under LB.

Why for Knicks? Tougher players. Better defenders. Higher IQ players. Rose is a ball mover, a creater on O. Far better chance James returns to the Knicks (than the Raps) after his contract is up.

I haven't looked up the salaries, but I bet it's in the ballpark of even.

Toronto wants cap room. Jamal's and Q's salaries will mean they'll have no cap room for several years. Toronto wouldn't do a deal involving either let alone both of those players.
Maybe you can do Rose, Den #1 pick, and Mike James for Penny and Ariza.
Toronto's gonna get more desperate to trade Rose as the trade deadline approaches. This trade would give them a lot of cap room this summer.