How to rewrite custom post type with custom taxonomy urls?

When you are adding a custom taxonomy you are able to declare a rewrite slug –

$labels = array(
    'name' => _x('Name', 'taxonomy general name'),
    'singular_name' => _x('Singular Name', 'taxonomy singular name'),
    'search_items' =>  __('Search Items'),
    'all_items' => __('All Names'),
    'parent_item' => __('Parent Item'),
    'parent_item_colon' => __( 'Parent Ites:'),
    'edit_item' => __('Edit Item'), 
    'update_item' => __('Update Item'),
    'add_new_item' => __('Add New Item'),
    'new_item_name' => __('New Item Name'),
);

register_taxonomy(
    'ad_category',
    array('post-type1', 'post-type2'),
    array(
        'hierarchical' => true,
        'labels' => $labels,
        'show_ui' => true,
        'query_var' => true,
        'rewrite' => array('slug' =>'new-york-city')
    )
);