New York City consists of 5 boroughs and is home to over 8.5 million residents. It was purchased by the Dutch from native inhabitants in 1626 for $24. Some of New York's most iconic landmarks include the Statue of Liberty, given as a gift from France in 1884, Central Park which first opened in 1857, and the Empire State Building which was the world's tallest building from 1931 to 1970. New York is known as the city that never sleeps due to its bustling energy and as the Big Apple, a nickname derived from jazz musicians in the 1920s.