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
History of the New York City Subway after the opening of the first elevated line in New York City, which became the IRT Ninth Avenue Line. By the time the first subway opened, the lines had been consolidated into two privately owned systems, the Brooklyn Rapid Transit Company (BRT, later Brooklyn–Manhattan Transit Corporation, BMT) and the Interborough Rapid Transit Company (IRT). Many present lines were built under the Dual Contracts, and after 1913, all lines built for the IRT and most other lines built or improved for the BRT were built by the city and leased to the companies. The first line of the city-owned and operated