Peapack-Gladstone Bank of Bedminster has executed on its previously announced plans to move to New York City with its Tuesday statement that it finalized its lease on both office and retail space at 300 Park Ave.
Its Peapack Private unit has been actively recruiting from the tri-state area and beginning to build a presence in Manhattan since news of its relocation was made public last July.
“We are seizing the opportunity to grow our private banking business into New York after the volatility of 2023,” Doug Kennedy, CEO and president, said. “There’s no better place to do that than on Park Avenue, and we are excited to begin this chapter of our journey.”
The flagship location features 10,000 square feet of office space on the 13th floor and 6,000 square feet of luxury retail space on the first floor.
Jeanne Scungio, president of the New York market, commented: “The space on Park Avenue is stunning and puts us on equal footing with our competitors. We are excited for the challenge that New York represents and even more excited to welcome new clients to private banking with Peapack Private.”
