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Gulaylar Group Secures 80% Occupancy of Gem Tower Mall

Jul 24, 2013 3:57 PM   By Jeff Miller
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RAPAPORT... The Gulaylar Group  secured tenants for 80 percent of its high-end mall at the International Gem Tower in Manhattan. The 16,000-square-foot Jewelry Shopping Mall, located on the first three floors of  Extell Development's Gem Tower, includes 80 linear feet fronting West 47th Street between Fifth and Sixth Avenues.

"We've been in the Diamond District for 15 years, and one of its drawbacks has historically been that the surroundings don't visually convey the quality of the merchandise available here," said Mehmet Gulay, the vice president of the Gulaylar Group. "It's a matter of image. Our mall addresses that, providing the tasteful luxury, comfort and security that clients demand when making an investment of this size and nature.

"We are creating a shopper's paradise, where fine-jewelry customers can find whatever they want under one roof, while enjoying the confidence that comes from dealing with the most qualified and trustworthy merchants in luxurious, secure surroundings," Gulay said.

The Gulaylar Group is based in Istanbul and it acquired the retail space in March. It expects to open  the mall in the first quarter of 2014.

Tags: Diamond District, gem tower, Jeff Miller, jewelry mall, manhattan, Real Estate
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