The Diamond District is an area of New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

 located on West 47th Street

47th Street (Manhattan)

47th Street is an east-west running street between First Avenue and the West Side Highway in the borough of Manhattan in New York City. Traffic runs one way along the street, from east to west, starting at the United Nations Headquarters....

 between Fifth Avenue

Fifth Avenue (Manhattan)

Fifth Avenue is a major thoroughfare in the center of the borough of Manhattan in New York City, New York, United States. The section of Fifth Avenue that crosses Midtown Manhattan, especially that between 49th Street and 60th Street, is lined with prestigious shops and is consistently ranked among...

 and Sixth Avenue

Sixth Avenue (Manhattan)

Sixth Avenue – officially Avenue of the Americas, although this name is seldom used by New Yorkers – is a major thoroughfare in New York City's borough of Manhattan, on which traffic runs northbound, or "uptown"...

 (Avenue of the Americas) in midtown Manhattan

Midtown Manhattan

Midtown Manhattan, or simply Midtown, is an area of Manhattan, New York City home to world-famous commercial zones such as Rockefeller Center, Broadway, and Times Square...

, within walking distance of many New York attractions. It is located one block south of Rockefeller Center

Rockefeller Center

Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...

, three blocks south of Radio City Music Hall

Radio City Music Hall

Radio City Music Hall is an entertainment venue located in New York City's Rockefeller Center. Its nickname is the Showplace of the Nation, and it was for a time the leading tourist destination in the city...

 (along the Avenue of the Americas), three blocks south of St Patrick's Cathedral

St. Patrick's Cathedral, New York

The Cathedral of St. Patrick is a decorated Neo-Gothic-style Roman Catholic cathedral church in the United States...

 (along Fifth Avenue), and one block east of the Broadway Theater District

Theatre District, New York

The Theater District is an area in Midtown Manhattan where most Broadway theaters are located, as well as many other theaters, movie theaters, restaurants, hotels and other places of entertainment. It extends from 40th Street to 54th Street, and from west of Sixth Avenue to east of Eighth Avenue,...

. The Plaza Arcade, lined with shops, connects the street to Rockefeller Center.

The district was created when dealers moved north from an earlier district near Canal Street

Canal Street (Manhattan)

Canal Street is a major street in New York City, crossing lower Manhattan to join New Jersey in the west to Brooklyn in the east . It forms the main spine of Chinatown, and separates it from Little Italy...

 and the Bowery

Bowery

Bowery may refer to:Streets:* The Bowery, a thoroughfare in Manhattan, New York City* Bowery Street is a street on Coney Island in Brooklyn, N.Y.In popular culture:* Bowery Amphitheatre, a building on the Bowery in New York City...

 that was created in the 1920s, and from a second district located in the Financial District

Financial District, Manhattan

The Financial District of New York City is a neighborhood on the southernmost section of the borough of Manhattan which comprises the offices and headquarters of many of the city's major financial institutions, including the New York Stock Exchange and the Federal Reserve Bank of New York...

, near the intersection of Fulton

Fulton Street (Manhattan)

Fulton Street is a busy street located in Lower Manhattan. It is in New York City's Financial District, a few blocks north of Wall Street. It runs from Church Street at the site of the World Trade Center to South Street, terminating in front of the South Street Seaport...

 and Nassau Street

Nassau Street (Manhattan)

Nassau Street is a street in the Financial District of the New York City borough of Manhattan, located near Pace University and New York City Hall. It starts at Wall Street and runs north to Frankfort Street at the foot of the Brooklyn Bridge, lying one block east of Broadway and east of Park Row...

s, which started in 1931. The move uptown started in 1941. The district grew in importance when the German Nazis invaded the Netherlands

Netherlands

The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...

 and Belgium

Belgium

Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...

, forcing thousands of Orthodox Jews in the diamond business to flee Antwerp and Amsterdam

Amsterdam

Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...

 and settle in New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

. Most of them remained after World War II

World War II

World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...

, and remain a dominant influence in the Diamond District.

A notable, long-time anomaly of the district was the famous Gotham Book Mart

Gotham Book Mart

The Gotham Book Mart, in operation from 1920 to 2007, was a famous midtown Manhattan bookstore and cultural landmark. The business was located first in a small basement space on West 45th Street near the Theater District, it then moved to 51 West 47th Street, then spent many years at 41 West 47th...

, a bookstore, which was located at 41 West 47th Street from 1946 to 2004.

The area is one of the primary centers of the global diamond industry (along with London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

 - rough stones; the Antwerp diamond district

Antwerp diamond district

Antwerp's diamond district, also known as the Diamond Quarter , and dubbed the Square Mile is an area within the city of Antwerp, Belgium. It consists of several square blocks covering an area of about one square mile. Over 12,000 gemcutters and polishers work within the district...

 in Belgium

Belgium

Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...

 - historical but waning; Mumbai

Mumbai

Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...

, India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

 - increasing in significance, Ramat Gan, Israel

Israel

The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...

 - also growing, and Johannesburg

Johannesburg

Johannesburg also known as Jozi, Jo'burg or Egoli, is the largest city in South Africa, by population. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa...

, South Africa

South Africa

The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...

 - the major historical source), as well as the premier center for jewelry shopping in the city. An estimated 90% of diamonds in the United States enter through New York.

Operation

It has been reported that total receipts for the value of a single day's trade on the block average $400 million. There are 2,600 independent businesses located in the district, nearly all of them dealing in diamonds or jewelry. Most are located in booths at one of the 25 "exchanges" in the district. Many deals are finalized by a simple, traditional blessing (mazel und brucha) and handshake. The Diamond Dealers Club — also known as the DDC — is an exclusive club that acts as a de facto

De facto

De facto is a Latin expression that means "concerning fact." In law, it often means "in practice but not necessarily ordained by law" or "in practice or actuality, but not officially established." It is commonly used in contrast to de jure when referring to matters of law, governance, or...

 diamond exchange and has its own synagogue

Synagogue

A synagogue is a Jewish house of prayer. This use of the Greek term synagogue originates in the Septuagint where it sometimes translates the Hebrew word for assembly, kahal...

. Retailers with shops line the streets outside. Above the bazaar is the Gemological Institute of America

Gemological Institute of America

The Gemological Institute of America, or GIA, is a nonprofit institute dedicated to research and education in the field of gemology and the jewelry arts. Founded in 1931, GIA's mission is to protect all buyers and sellers of gemstones by setting and maintaining the standards used to evaluate...

which trains gem dealers.