Soaring to New Heights
May 01, 13
In 2009, at the height of the financial crisis, building a luxury tower in the heart of Manhattan seemed to be little more than a fantasy. The International Gem Tower (IGT) project, Extell Development’s vision for a world-class commercial and retail condominium serving the gem and jewelry trades, was mired in the recession that hit both the real estate and diamond industries.
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Fast forward to 2013 and that tower is now a reality that its developers believe will change the face of the international gem and jewelry industries. Located in New York’s historical diamond district, spanning 46th to 47th Street between Fifth and Sixth Avenues, the IGT was designed specifically to meet the needs of a unique industry.
The tower was designed by internationally renowned architectural firm Skidmore Owings & Merrill and features a crystalline curtain wall with embedded steel “diamond-shaped” medallions. The glass walls offer 360º views of Midtown Manhattan and allow for an abundance of natural light to enter the office spaces. Perhaps the most important feature of the building is the state-of-the-art security system provided by G4S, which it believes is like nothing the industry has seen before.
“Working with Extell Development, we wanted to create a security paradigm that instills a high level of tenant confidence in the building security. The screening process begins with credentials and biometric readers to verify identity,” explains Michael Perlow, vice president of sales and marketing for G4S Technology.
“We have incorporated iris scanners in the lobby turnstiles to allow for a quick and effective security check without the need to pull out an ID card. The building credentials provide access rights and elevator assignments to visitors, vendors, and staff members that ensure they only go to their designated floors through the destination dispatch elevator system.” Perlow explains that the iris scanners are unique not only to the IGT, but also to commercial security turnstile installations in general.
The building is managed by G4S’s OneFacility security platform, which integrates day-to-day security tasks and disparate technologies. All visitor, vendor, staff, employee and owner data is provided to the various security applications from a single database, which is backed up offsite.
“OneFacility is a security platform that allows all program modules to integrate into a single database. Most typical businesses choose their security applications a la carte and only later find out that the various software applications are difficult or impossible to integrate with one another. Here all applications are designed to communicate and produce custom results to meet the client’s needs,” said Perlow.
Perlow and his team are aware of the inherent challenges of securing a high-profile office tower.
The Integrated Security Management System surveillance monitors all areas of the building using high-definition cameras that can apply zoom and analysis features in video review. OneFacility is also designed as a flexible platform, allowing for customization within the system to adapt to any future building needs.”
According to Perlow, G4S interviewed a number of IGT condominium owners before designing the building’s security system. “The response from owners was that they chose to move into the IGT because of the state-of-the-art security system. We listened to tenants’ individual security concerns and, together with Extell, worked to make sure we captured their needs throughout all aspects of the security design. We have also installed a redundant system that can adapt to future technological innovations and tenant requirements. This is the best strategy for alleviating the issues of today and tomorrow.”
Norbert Padt, marketing manager for Eurostar Diamonds, whose company has purchased an office on the 19th floor of the building, said one of the advantages of being in the IGT – other than being centrally located in the diamond district – is the state-of-the-art building security. Padt added that the tower offers other amenities beyond the critical security system, including numerous service providers, such as GIA, courier services and security providers such as G4S and Malca Amit.
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The desire for space in a city that is always short on it is only one of the reasons that Eurostar and others are moving into the IGT. “Now we have a large enough space to factor in expansion in the future,” he adds
One of the other businesses moving into the tower is GIA, which has purchased sufficient space in the IGT for its grading lab as well as its entire campus. The organization says consolidating operations and having students share a facility with the laboratory will enhance students’ educational experience in an enriching learning environment. The new and expanded facility in New York, with its more efficient allocation of space, will also enable GIA to better serve its clients.
“GIA has made a substantial investment on 47th Street, ensuring our long term commitment to serving clients and reemphasizing our dedication to New York’s diamond district – one of the jewelry industry’s most vibrant hubs – which we have been a part of for more than 60 years,” says a spokesperson for GIA.
“The industry is changing so rapidly that we need to plan for the future to accommodate research and new products as the demand arises, and our new space in the IGT gives us a better vantage point to do so.”
Another large tenant is the Gulaylar Group, a Turkish jeweler and property management company, which purchased the 12,000 square-foot retail condominium at the base of the building on the West 47th Street side of the tower. The Turkish company is planning to use the space to create a “world-class jewelry exchange,” says vice president Mehmet Gulay. “We have been on 47th Street for 15 years, and we know the street very well.”
In addition to its security system, a big draw for those dealing with highly valuable items such as diamonds, the IGT also has other draws for companies looking to do business in these challenging times. The Foreign-Trade Zones Board of the U.S Department of Commerce has approved the IGT as a Foreign Trade Zone (FTZ). This means that items brought into the tower can be held without being subject to customs duties and other taxes until they are imported into the U.S.
Joe Lipton, a partner in the development, projects that the IGT will eventually become a brand. “As the economy continues to improve, the market will shift its perception and the features and benefits of the tower will set a new industry standard,” he says.