New York Loan Company, Manhattan’s premiere pawn shop opened this month after operating its sister location, Beverly Loan Company, in Beverly Hills for over 75 years. This family owned collateral lending institution, known as the “pawn shop to the stars,” caters to those who require a confidential short-term cash infusion ranging from $500 to well over a $1 million. New York Loan specializes in collateral loans against GIA certified diamonds, antique and modern jewelry, high-end watches, fine art and one-of-a-kind entertainment and sports memorabilia. New York Loan also buys and sells jewelry and watches from its discreet office on the 3rd floor of the International Gem Tower on 47th Street in New York City’s Diamond District. Jordan Tabach-Bank, CEO of New York Loan, explains, “I’ve had clients from Manhattan that would fly to Beverly Hills to conduct a pawn loan with us. Now that we’ve launched New York Loan, we’re available for our clients on the East Coast who previously had no resource like this at their disposal.”
New York Loan is not your typical pawn shop; all transactions are conducted in private offices, all employees are GIA trained gemologists, and all jewelry is stored in a Class 3 underground vault. New York Loan is located in the diamond capital of the world, since the vast majority of the collateral it loans against is jewelry often containing diamonds and colored gemstones, including signed pieces such as Graff, Van Cleef & Arpels, David Webb, Tiffany & Co., and Cartier.
New York Loan also has vast expertise in making pawn loans against luxury watches, often with complications, especially from the finest watchmakers, such as Rolex, IWC, Audemars Piguet, Hubolt, Paneri, Vacheron Constantin, and Patek Philippe.
And, New York Loan, is one of the few collateral lenders in the world with knowledge to make loans against fine art, whether it be original paintings and sculptures, or prints and photography. Clients know that when they hand their modern and contemporary art, including works by Basquiat, Lichtenstein, Warhol, Picasso and Chagall, to New York Loan they will be handled and stored with the utmost care.
Since New York Loan’s sister company is close to Hollywood, its employees are also well-versed in the world of memorabilia. New York Loan can authenticate and value both Hollywood collectibles, such as Oscars and celebrity worn costumes, and sports collectibles, such as Super Bowl rings and rare game worn uniforms.
“I am pleased to provide a discreet, no pressure location for our clients to quickly access cash for their valuable items,” said Tabach-Bank. “As we had suspected would be the case, our clients appreciate our location in the Manhattan’s Diamond District, the security offered by the International Gem Tower, and the expertise our employees are able to offer. But what they value most is our ability to fund large pawn loans in a matter of minutes.”
New York Loan caters to the business needs of celebrities, executives, socialites and other power players. Tabach-Bank explains, “While the economy is slowly recovering, there are still affluent Americans that find themselves in a cash crunch or unable to acquire a traditional bank loan, and New York Loan provides an opportunity to access cash with no credit checks and without putting one’s livelihood at risk.”