Gotham's Diamond District is composed of more than 300 retailers, wholesalers, and craftsmen of jewelry and gemstones and precious metals. It is one of the oldest diamond districts in America, and second in size only to the one in Philadelphia. Many of the area's retail, jewelrymaking and appraisal businesses have been owned by the same families for generations.

This district started as a series of well-to do homes in the early 19th century, but as Gotham grew they became businesses and were zoned differently. These magnificent buildings are now being converted into jewelry shops as well as other white-collar businesses such as clinics, dentists, and law offices.