Southern Jewelry News

Institute purchases full floor in Extell’s new industry tower on 47th Street

(NEW YORK) - The Gemological Institute of America (GIA) has announced plans to relocate its New York Laboratory to Extell’s International Gem Tower (IGT).

GIA has signed a contract to purchase an entire floor in the tower under construction on 47th Street. The nearly 30,000 square foot space will enable GIA to organize its staff and equipment in a more efficient way and continue to develop new services and enhanced business processes to benefit its clients and the gem and jewelry industry.

“We are very excited about our move to the International Gem Tower,” said Donna Baker, president and CEO of GIA. “We look forward to relocating our New York Laboratory operations into a single floor of the IGT. This purchase will increase our efficiency and help GIA manage its long term costs. The move will reinforce our commitment to the New York and U.S. marketplace.”

“GIA is the world’s foremost authority on diamonds, colored stones and pearls. It’s presence in the building will unequivocally establish the Gem Tower as New York’s center for the international trade,” said Gary Barnett, president of Extell Development Company. “This prestigious Institute clearly recognizes the value the development brings to New York’s Diamond District, and we’re thrilled to have them on board.”