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Sarin Buys New York Office Space in Intl. Gem Tower

Jun 30, 2011 11:47 AM   By Jeff Miller
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RAPAPORT... Sarin Technologies Ltd. entered into an agreement with Extell  to acquire approximately 500 square meters of office space, for $5 million, in the new International Gem Tower in Manhattan.  Sarin will make an initial deposit, with additional payments to be made through the closing in late 2012. Sarin expects to finance a portion of the purchase price via bank loans.

This acquisition allows Sarin to better establish  a base in New York City for expanding service offerings on polished diamonds, according to Uzi Levami, Sarin's chief executive.

''This building is especially suited to Sarin’s needs as it is being constructed especially for the 21st century requirements of the diamond and jewelry industry in this important trading center and will house leading local and international diamond trading companies and service providers," he added.


Tags: Jeff Miller, new, purchase, Real Estate, Sarin, york
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