Bowling Green is New York City`s oldest park. According to tradition, this spot served as the council ground for Native American tribes and was the site of the legendary sale of Manhattan to Peter Minuit in 1626. It was first designated as a park in 1733, when it was offered for rent at the cost of one peppercorn per year. By the late 18th century, Bowling Green marked the center of New York`s most fashionable residential area, surrounded by rows of Federal-style townhouses. Since December 1989 the statue of Charging Bull (1987-89) has been on display at the north end of the park. Its sculptor, Arturo DiModica, says the three-and-a-half-ton bronze figure represents "the strength, power and hope of the American people for the future." It has also been linked to the prosperity enjoyed by Wall Street in the past decade.