NEW YORK CITY-The World Gold Council, which runs the ETF SPDR Gold Shares, is taking 11,500 square feet at 510 Madison Ave. The deal will give the council the entire 9th floor in the building and more than double the size its US headquarters.
As the economic downturn took hold, and investors flocked to safer, tried and true investment opportunities, gold--and ETF trading of the metal--took off.
“It’s a pretty interesting story,” Zev Holzman a Studley managing director who represented the council in the deal, says. “We moved them a few years ago into 5,000 square feet and everybody thought that would be the home for the World Gold Council for at least the next ten years.” Holzman and Studley’s executive managing director Paul Revson represented the tenant.
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