For two hundred years, New York City has been the largest metropolis in the United States and continues to outpace its competitors. The city is one of the oldest and most prosperous in the country. Its metropolitan area produces goods and services equivalent in monetary terms to half of Brazil's total GDP. Its urban structure, productive capacity, and high per capita income reflect its privileged global standing. One of the keys to understanding its rise lies in the very beginning of its history and its long developmental path. In 1624, the land of Manhattan Island was purchased from the indigenous Lenape people by Dutchman Peter Minuit of the Dutch West India Company, who founded New Amsterdam. The island is an extensive, flat 59-square-kilometer area situated at the mouth of the Hudson and East rivers. The bay allowed large ships to anchor and offered a strategic, easily defensible position.
