Fintech Firm Current Moves to 62K SF at Vornado’s Penn 2

Fintech firm Current is moving its New York City offices to right above Penn Station.

Current, which provides users with mobile banking services such as early paycheck access and credit building, has signed a 10-year lease for more than 62,000 square feet on the 23rd floor of Vornado Realty Trust’s Penn 2, The Real Deal reported. Asking rent was $125 per square foot.

The deal represents a relocation and a bit of a downsizing for Current, which will leave its current 71,692-square-foot office at RXR’s 620 Avenue of the Americas in Chelsea for its new building one mile away at the intersection of Seventh Avenue and West 32nd Street.

Current Real Estate Advisors’ Adam Henick and Rob Kluge brokered the deal for the tenant, while Vornado was represented in-house by Josh Glick and Jared Silverman, along with Cushman & Wakefield’s Bruce Mosler and Josh Kuriloff.

Current Real Estate Advisors and Current declined to comment, while spokespeople for Vornado and C&W did not immediately respond to requests for comment.

News of the deal comes after a successful third quarter of leasing for Vornado, which on Tuesday reported New York office occupancy of 88.4 percent during the period, “primarily due to leasing activity at Penn 2,” Michael Franco, president and chief financial officer at Vornado, said during an earnings call.

Following a $750 million renovation, the 31-story tower is also now 78 percent leased, according to TRD.

Other tenants at Penn 2 include stakeholder strategy firm FGS Global, Verizon, Universal Music Group and Major League Soccer.

Isabelle Durso can be reached at idurso@commercialobserver.com.