print header

# 1 Commercial Real Estate Information Company

  • Find Properties 
  • Market Properties 
  • Analyze Properties 
Products
Commercial Real Estate News

Trump Accepts Gold Bullion as Lease Deposit

October 12, 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 Trump gold bullion as a deposit on a 10-year commercial lease for the entire 50th floor at 40 Wall St., also known as the Trump Building, in New York City.

APMEX CEO Michael Haynes gave Trump three, one kilo, .9999 pure gold bars, weighing in total approximately 96.45 troy ounces on lease signing last week.

"The Trump Organization has always strived to be 'the gold standard,'" Trump said. "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.

What's the most unusual lease payment you've encountered?

Keep up weekly on national news, trends and property leads with the Watch List Newsletter, a weekly pdf that includes other news and leads not found on the CoStar Group web news pages. Sign up for the Watch List E-Mail Alert. A new issue is published late each Wednesday.

 Find us on 

Welcome To CoStar's
Industry-Focused,
Award-Winning News

Winner of three Journalism Awards from the National Association of Real Estate Editors (NAREE)

Award-Winning News