Bank On It: HSBC Bumps Off Valley National at Fifth Avenue and 21st Street

Fri, 16 Feb 2007 14:15:00 -0400

Mom 'n' pop shops aren't the only ones losing retail space to banks these days in New York City--even banks are losing space to banks.

On Feb. 23, Wayne, N.J.-based Valley National Bank will be moving out of its corner space at 145 Fifth Avenue.

And London-based global banking giant HSBC will be moving in.

A customer-service representative at the doomed Valley National branch suggested that the turnover in financial tenants might have something to do with the building going condo. (A bank spokesperson did not immediately return phone calls.)

Despite its loss, Valley National isn't going far, however. Jersey's so-called "super-community bank" has found a replacement space just one block away, on Broadway.

A sign outside the new location indicates that job opportunities are available, should any prospective tellers be willing to slum it with a mere regional bank.

- Chris Shott

Observer » Bank On It: HSBC Bumps Off Valley National at Fifth Avenue and 21st Street

Bank On It: HSBC Bumps Off Valley National at Fifth Avenue and 21st Street