In 1624, the historical beginnings of Manhattan were established. The city is one of the five boroughs that make up New York City. The original purchase of Manhattan was by Dutch colonists who received the land for payment to Native Americans. The city played a major role in the development of early American history. Many things have changed since the turn of the 19th century in Manhattan. At one point, the city was the capital of the United States. After the war of 1812 great interest was put into the city as businessmen around the world would take an interest. Buildings were starting to become erected in very quick developments.
The city would later feel the repercussions of the Great Depression. Businesses were closing and many of the local apartments that were developed multiple families would occupy previous years. Many projects were brought to the city with the intent of providing work for the local inhabitants. One such project was a monumental accomplishment. In 1931, the Empire State building was completed after two years of construction. It would stand as the tallest building in the world till 1970. After the Second World War, and major change occurred in Manhattan. Families were starting to move back with an interest in the area with intentions of permanently residing there. The effect would reflect on the property values in Manhattan. Joseph Armato is a licensed real estate developer in Manhattan. He is well known for his successful purchases of older buildings and renovating them to gain value.
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