Cool & Dre produced the track for rapper Fat Joe, who initially turned it down. Jadakiss was said to be interested in the track; however, Ja Rule grabbed it almost immediately. When Irv Gotti learned of the history behind who was to have the track, he mentioned it to Ja Rule, and then they offered for both Fat Joe and Jadakiss to be featured on the track.
The song, or at least Ja Rule's verse, is a diss track aimed at gangster rapper50 Cent and his group G-Unit. In the song Rule raps: Apprentice you're fired, you're no longer desired/So take off them silly chains, put back on your wire/I'm on fire. 50 Cent later attacked Fat Joe and Jadakiss for being a part of the song in his 2005 song "Piggy Bank".
There is a sequel to the song, "New York is Back" in DJ Khaled's Album, We the Best (2007).