NEW YORK, NY--(Marketwire - Sep 15, 2011) - For the first time in the history of The Trump Organization, Donald J. Trump will be accepting Gold Bullion as a security deposit. APMEX, one of the largest U.S. precious metals dealers, will give Mr. Trump Gold Bullion today as a deposit on a 10 year commercial lease for the entire 50th floor at 40 Wall Street, also known as the Trump Building.
40 Wall Street, formerly the tallest building in the world in 1930, is known as the "crown jewel" of lower Manhattan and was purchased and restored to its original grandeur by Trump in 1995. At the signing of the lease today at 11:00 AM ET at Trump Tower on 725 Fifth Avenue, APMEX CEO Michael Haynes will present Donald Trump with three, one kilo, .9999 pure Gold bars, weighing in total approximately 96.45 troy ounces.
Donald Trump said, "The Trump Organization has always strived to be 'the gold standard.' We welcome APMEX as our tenant at 40 Wall, a prestigious and historical location. The legacy of Gold as a precious commodity has transcended to become a viable currency and an accepted universal monetary standard. Central Banks around the world are holding Gold as a reserve asset. It is also a terrific, potentially lucrative diversifier in a portfolio, especially with such volatility in the stock market."
APMEX will take occupancy of approximately 10,000 square feet at 40 Wall Street in about 90 days, and plans to have 25 employees at the site initially, with an option to increase space to accommodate as many as 200. APMEX will retain its distribution headquarters in Oklahoma City, with key finance and marketing management stationed in New York. Cushman Wakefield acted as the broker on the lease.
Michael Haynes, CEO of APMEX commented, "New York is one of the major financial and precious metal capitals of the world and 40 Wall Street is a landmark building that has all the amenities necessary to expand our operations. We are experiencing significant growth as more and more investors realize that precious metals such as Gold, Silver, Platinum, and Palladium, may provide balance to a portfolio as a part of the asset allocation. We are excited to be at 40 Wall, a premier location and pleased that Mr. Trump has agreed to accept Gold as a deposit on this lease, and in doing so expresses his confidence in Gold as a valuable, long term asset."
Founded in 2001, APMEX has one of the world's largest selections of precious metals in bar and coin. APMEX offers more than 3,500 items sold mostly through its web site at www.APMEX.com. APMEX is a direct buyer of Gold and Silver from most of the world's Sovereign mints.
About 40 Wall Street
40 Wall is a world renowned, landmark 72 story office building and formerly the tallest building in the world. Known as the "Crown Jewel of Wall Street," the building is located in the heart of the financial and business district of New York City, and providing 360º views of Downtown Manhattan. With 40 Wall Street, the Trump Organization provides the utmost in design, management, security and service in commercial property.
* High resolution photos available on request.