The Diamond Dealers Club (DDC) to Move Into State-of-the Art Diamond District Tower
Extell Development Company and the Diamond Dealers Club (DDC), the largest and oldest diamond trade organization in the United States, announced today that it has closed on the purchase of its new headquarters on the 11th floor at the International Gem Tower (IGT) on West 47thStreet in Manhattan’s famed diamond district. The DDC will relocate its offices this June.
As the anchor of New York’s Diamond District, DDC members will have the opportunity to conduct their business out of a beautifully designed open trading space with state-of-the-art technical facilities, a relaxing cafeteria and break area and gorgeous views from floor-to-ceiling windows.
“We are excited to welcome the Diamond Dealers Club to the building,” said Gary Barnett, the founder of Extell. “Having DDC at the International Gem Tower completes our vision for a modern industry center in New York.”
“The International Gem Tower is critical to the future success and stability of the diamond industry on 47th Street in New York. I believe that this new facility and trading floor will be an incredible benefit to our members," said DDC President, Reuven Kaufman. “Our members will enjoy the modernity, prestige and value that IGT has to offer. We are confident that the Club's presence will enhance the experience for IGT owners, visitors and tradesmen. Now is an excellent opportunity for DDC members to secure office space still available from Extell Development and be in the same location as the DDC and other major companies in the industry.”
“There were many people on both sides who worked tirelessly to make this possible,” Kaufman added. “Gary Barnett gave the DDC this incredible opportunity, made us feel welcome, and has been exceedingly gracious in his dealings with us. Elliot Krischer, Secretary of the DDC, is an invaluable asset to the Club and was instrumental in bringing this opportunity to fruition. Raizy Haas, Senior Vice President of project management and development at Extell, has been a pleasure to work with in leading the effort to ensure that the new space will meet the unique needs of the DDC and its members. The DDC's Officers and Board Members have dedicated themselves throughout this process to ensuring that our members are given the best opportunities to succeed in today's market. DDC’s Managing Director, David Lasher, and General Counsel, William Lerner spent countless hours to make this deal possible and have worked diligently to ensure that the DDC remains the ‘Beating Heart’ of the diamond trade in New York, the epicenter of the diamond industry.”
Designed by Skidmore, Owings and Merrill, the ultramodern tower was developed specifically for the global diamond, gem and jewelry industry. In addition to a cutting-edge security system, which includes iris recognition scanners at the lobby turnstiles, owners will also benefit from on-site underground parking and a private health and fitness center.
Diamond and gem industry heavyweights including Gemological Institute of America (GIA); DeBeers; Smolensk; Leo Schachter & Company; Dalumi Diamonds; SB Diamonds; Schmuel Schnitzer; Ben Mellen & Company; Esskay; Christopher Designs; Isaac Davidowitz; Eurostar; Kuperman Bros. Diamonds USA; Malca-Amit USA; and Manfra Tordella & Brookes are part of the impressive roster of buyers at IGT.
About IGT:
Extell Development Company’s International Gem Tower is a 34-story, state-of-the-art industry center designed specifically for the gem and jewelry trades. The tower, designed by Skidmore, Owings & Merrill, is located in the heart of New York City’s Diamond District at 50 West 47th Street. Its signature, crystal lined curtain wall and façade of embedded diamond shaped medallions offers floor to ceiling windows and 360 degree views. The industry condominium portion of IGT is situated on the first 21 floors of the tower.
About Diamond Dealers Club (DDC):The Diamond Dealers Club (DDC) is the largest diamond trade organization in the U.S. and one of the leading diamond exchanges in the world. The DDC works diligently to support and encourage the growth of the U.S. diamond industry. The mission of DDC of New York is to foster the interests of the diamond, colored stone and jewelry industry by providing, regulating and maintaining a facility as a DDC; promoting just and equitable principles in trade; establishing industry-wide standards of disclosure; disseminating accurate and reliable information; and carrying out the activities and objectives of the organization in accordance with the laws of the State of New York and the U.S.
