Modern Bank heading to Boston Properties’ 250 West 55th

Financial firm is relocating from 667 Madison Avenue
February 26, 2014 06:27PM

Boutique financial service provider Modern Bank has inked a deal for nearly 15,000 square feet at Boston Properties’ 250 West 55th Street.

The bank is relocating from 667 Madison Avenue and will take 13,200 square feet on the 15th floor of 250 West 55th Street, at Eighth Avenue. Craig Reicher and Christie Harle of CBRE represented the bank, which specializes in leveraged finance, in the deal.

“If you consider that 667 Madison is among the crème de la crème of Manhattan trophy buildings, with great appeal to boutique financial firms, this move is a huge validation of 250 West 55th Street,” Peter Turchin, who leads CBRE’s leasing team for 250 West 55th Street, said in a release today from the firm.

The bank will join fellow tenants Soros Fund Management, which is relocating from 888 Seventh Avenue, and law firms Morrison Foerster and Kaye Scholer in the 38-story office tower. — Julie Strickland