New York City York metropolitan area produced a gross metropolitan product (GMP) of US$1.73 trillion. If greater New York City were a sovereign state, it would have the 12th highest GDP in the world. New York City traces its origins to a trading post founded by colonists from the Dutch Republic in 1624 on Lower Manhattan; the post was named New Amsterdam in 1626. The city and its surroundings came under English control in 1664 and were renamed "New York" after King Charles II of England granted the lands to his brother, the Duke of York. New York served as the capital of
New York City Board of Transportation New York City Board of Transportation The New York City Board of Transportation or the Board of Transportation of the City of New York (NYCBOT or BOT) was a city transit commission and operator in New York City, consisting of three members appointed by the mayor. It was created in 1924 to control city-owned and operated public transportation service within the New York City Transit System. The agency oversaw the construction and operation of the municipal Independent Subway System (IND), which was constructed shortly after the Board was chartered. The BOT later presided over the major transfers of public transit