The Dutch settled in what is now referred to as NEW YORK State in 1624, and for 40 years they ruled over the colony of New Netherland. It was conquered by the English in 1664 and was then named New York in honor of the Duke of York. Existing as a colony of Great Britain for over a century, New York declared its independence on July 9, 1776, becoming one of the original 13 states of the Federal Union. The next year, on April 20, 1777, New York's first constitution was adopted. On July 26, 1788, New York State became the 11th state to ratify the Constitution of the United States. From 1785 to 1790, New York City served as the seat of the U.S. government and the nation’s first capital city. Today, New York City is home to the United Nations, and is widely regarded as the “capital of the world.”

Inaugurated in 1940, the NEW YORK Handicap was moved to the turf in 1955 when Belmont Park built its grass course. As such, the race became the first stakes event on the turf in modern-day racing in Metropolitan New York. The race was first run at the marathon distance of two and one quarter miles. Open to both sexes prior to 1962, it is now limited to fillies and mares.

The NEW YORK Handicap was run at two and a quarter miles prior to 1951; a mile and an eighth from 1951 to 1954, and in 1959 and 1960; a mile and three eighths in 1955, 1956, 1958, and 1961; a mile and three-sixteenths in 1963, 1964, and from 1968 to 1971; a mile and a sixteenth from 1965 to 1967, and from 1977 to 1979; and at seven furlongs in 1972. Not run in 1957, and from 1973 to 1975. Run in two divisions in 1960, 1963, 1965, 1966, 1969, 1970, 1971, and 1978. Run at Aqueduct from 1940 to 1960, and from 1963 to 1974. Restricted to three-year-old fillies in 1972. Run on the main track from 1940 to 1954, and in 1972.