Final answer:
New Amsterdam was renamed New York after the English captured it from the Dutch in 1664 to honor the Duke of York. It was initially established as a trade center by the Dutch and later grew into a major city due to its advantageous location and transportation developments.
Step-by-step explanation:
The city once known as New Amsterdam was renamed to New York after it was captured by the English from the Dutch in 1664. The English military expedition that took over the city renamed it in honor of the Duke of York. This historical event reflected the English's goal to expand their overseas empire and to assert their dominance over the Dutch presence in the region.
Founded by the Dutch in 1624, New Amsterdam became a hub for trade and commerce at the southern tip of what is now known as Manhattan. This strategic location, along with developments like the opening of the Erie Canal, played a significant role in New York City's growth into a major trading and transportation center, surpassing its early competitors on the East Coast.