The Troy and Greenbush Railroad was chartered in 1845 and opened later that year, connecting Troy south to Greenbush (now Rensselaer) on the east side of the Hudson River. The Hudson River Railroad was chartered on May 12, 1846, to extend this line south to New York City; the full line opened on October 3, 1851. Prior to completion, on June 1, it leased the Troy and Greenbush.
Cornelius Vanderbilt obtained control of the Hudson River Railroad in 1864, soon after he bought the parallel New York and Harlem Railroad.
In 1867, Cornelius Vanderbilt acquired control of the Albany to Buffalo-running NYC, with the help of maneuverings related to the Hudson River Bridge in Albany. On November 1, 1869, he merged the NYC with his Hudson River Railroad to form the New York Central and Hudson River Railroad. This extended the system south from Albany along the east bank of the Hudson River to New York City, with the leased Troy and Greenbush Railroad running from Albany north to Troy.
In 1866 St. John's Park was sold to Cornelius Vanderbilt's Hudson River Railway Company and became the location of St. John's Park Freight Depot, the railroad's southern terminus.