“De Smit’s Vly,” or “The Smith’s Valley.”
A road leading up to what is now the corner of Maiden Lane and Pearl Street, where Cornelis Clopper had a blacksmith shop.
Possibly Maiden Lane, and a short stretch of it.
A central stopping point for country people to stop and shod their horses and socialize.
One of New York's early landmarks.
See more details here:
https://clickamericana.com/topics/places/new-amsterdam-new-york-from-frontier-days
Additional colored rendering:
https://www.alamy.com/stock-photo-smiths-valley-with-a-dutch-blacksmith-shop-farm-and-shipyard-on-manhattan-18525667.html