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The bank tied to the new leaseholders for Boston’s Quincy Market retail complex has filed to open its first location in Boston, among the applications by banks to open new branches last month.

Safra National Bank of New York, part of private banking and real estate conglomerate J. Safra Group, sought permission from the Office of the Comptroller of the Currency on March 22 to open an office on the fourth floor of 30 Rowes Wharf.

Safra National Bank had loaned Ashkenazy Acquisition Corp. $70 million in 2015, the same year the latter bought the 99-year lease on Faneuil Hall Marketplace. J. Safra Group’s real estate arm agreed to buy the lease from Ashkenazy in January for an undisclosed sum after Boston officials pressured Ashkenazy to sell amid disputes over deferred maintenance and leasing strategy. The city owns the retail property, but since it was redeveloped in 1974 has leased it out to a series of operators.

The only other publicly available branch applications filed with federal banking regulators in March: JPMorgan Chase’s requests to open a branch at the corner of Central and Washington streets in Stoughton and the corner of Ipswich and Boylston streets in Boston’s Fenway neighborhood.

 

Safra Filed to Add Boston Branch in March

by James Sanna time to read: 1 min
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