
Contents
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What Is Land? What Is Land?
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The Founding of New Amsterdam The Founding of New Amsterdam
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Early Development Early Development
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Dutch Land Grants: The Birth of the Land Market Dutch Land Grants: The Birth of the Land Market
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The Dongan Charter and Water Lots The Dongan Charter and Water Lots
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Eliminating Nature Eliminating Nature
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Subdivisions before the Grid Plan Subdivisions before the Grid Plan
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Land Values before the Revolutionary War Land Values before the Revolutionary War
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How Much Was Manhattan Land Worth? How Much Was Manhattan Land Worth?
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The Grid Plan of 1811 The Grid Plan of 1811
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What the Plan Omitted What the Plan Omitted
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The Physical Consequence of the Grid Plan The Physical Consequence of the Grid Plan
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The Economic Consequence of the Grid Plan The Economic Consequence of the Grid Plan
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Did the Grid Plan Create Artificial Land Scarcity? Did the Grid Plan Create Artificial Land Scarcity?
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2 Mannahatta to Manhattan: Settlement to Grid Plan
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Published:June 2016
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Abstract
Before the skyline could be built, New York had to create its land and the land market: hills had to be flattened, marshes drained, land distributed, subdivided, and prices assigned. The skyline emerges based on Manhattan’s early history of land formation. This chapter recounts the creation of New Amsterdam and the earliest real estate decisions. Next, the chapter discusses the 1686 Dongan Charter and the sale of water lots, which led to the expansion of the island. The chapter also discusses the emergence of the land market and land prices in colonial New York. Following that is the history of land subdivisions and the rise of the 25 x 100 square foot lot size during the Dutch period. The chapter then discusses the creation of the Grid Plan of 1811, and how it impacted Manhattan’s real estate and its land values.
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