The $24 Manhattan Deal That Changed Everything

Talk about the ultimate real estate steal. Back in 1626, Dutch official Peter Schaghen inked a deal with the Lenape people for Manhattan Island—paying just 60 guilders, roughly $24 at the time (or about $700 in today’s money). Yeah, you read that right.

From that tiny transaction, New Amsterdam was born. Within centuries, this modest settlement transformed into the financial powerhouse we know today. The Dutch didn’t just flip the land—they left fingerprints all over the city: Brooklyn, Harlem, Wall Street. The fur trade boom brought settlers from all over Europe, and things started moving fast.

By 1664, the English showed up and took over, rebranding it to New York (after the Duke of York). The Dutch lost control, but their DNA stayed embedded in the city’s DNA. Fast forward to 1910—Manhattan was already packed with over 2 million people.

Here’s the wild part: that $24 investment basically created one of the world’s most influential financial hubs. Wall Street, where billions flow daily, sits on the exact spot where Dutch traders once haggled over furs.

So next time you think about real estate ROI, remember: sometimes the best deals are the ones nobody thought were worth much at the time.