A man of property perhaps, but not for long (3,5)

'property perhaps but not for long' is the definition.
I know nothing about this answer so I can't tell whether it can be defined by this definition.

'a man' is the wordplay.
I cannot really see how this works, but
'man' could be 'owner' (I have seen 'Man of property' mean 'owner' so perhaps 'man' could also mean 'owner') and 'owner' is present in the answer.
The remaining letters 'new' is a valid word which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).

'of' acts as a link.

Can you help me to learn more?