New York, NY The Moinian Group has signed International Gemological Institute (“IGI”) to a long-term, 23,569 s/f headquarters lease at the owner/developer’s 545 5th Ave. IGI will occupy the entire 12th floor and partial 11th floor upon build-out, anticipated to be at the end of 2022.
This is the second lease IGI has signed in a property owned by The Moinian Group. IGI also has space at The International Jewelry Center in Los Angeles.
“IGI is an internationally renowned organization which required larger space to accommodate its growth while retaining a prestigious Fifth Ave. address,” said Ted Koltis, The Moinian Group’s head of commercial leasing. “We are providing a high-end custom build-out for their new space to match the quality of their tenancy. With this new lease and their existing space in L.A., we are thrilled that IGI is now a bicoastal tenant in our portfolio.”
Jarod Stern, Brad Wolk, and Meghan Marchini of Savills, represented IGI in the transaction. Mitchel Arkin, Omar Sozkesen, Peter Kerans, and Joseph Simon, of Cushman & Wakefield, and James Cassidy, of DHC, represented ownership.
IGI is the largest organization of its kind, operating 20 laboratory locations around the world grading finished jewelry, natural diamonds, lab-grown diamonds and gemstones, and 14 schools of gemology graduating thousands of new jewelry professionals each year.
IGI also has space at The Moinian Group’s International Jewelry Center, an iconic commercial building at 550 South Hill St. in Downtown Los Angeles’s famous Jewelry District. Designed by Skidmore, Owings, and Merrill with providing high-end amenities, oversized windows, and private offices.
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