New York was founded primarily as a Dutch colonial settlement called New Amsterdam in 1624-1625. The Dutch settled the area to establish a profitable fur trade with Native American tribes and to secure control over the strategic Hudson River. The island of Manhattan was purchased by the Dutch from Native Americans in 1626 to found the city. Later, in 1664, the English took control of the colony from the Dutch and renamed it New York after the Duke of York. The location's value was due to its advantageous position for trade and access between the Atlantic Ocean and the interior via the Hudson River. This foundation as a trading and strategic port set the stage for New York's growth into a major commercial hub in the following centuries.
