A Brief History of New York City’s Real Estate Market
<p>Did you know that the island of Manhattan, whose current land value is estimated at $1.4 trillion, was first purchased for $24?</p>
<p>You read that right — just $24.</p>
<p>The long and rich history of New York City’s real estate market begins in 1609 with its<a href="https://en.wikipedia.org/wiki/History_of_New_York_City" rel="noopener ugc nofollow" target="_blank"> first European settlement</a>. In 1626, the Dutch purchased the island of Manhattan, then known to the Dutch as<a href="https://en.wikipedia.org/wiki/New_Amsterdam" rel="noopener ugc nofollow" target="_blank"> New Amsterdam</a>, from the indigenous Lenape tribe for 60 guilders’ worth of beads and buttons — famously estimated at about $24 in modern currency.</p>
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