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Hint: The Branch Has Moved From Here, But Persists Elsewhere

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Welcome to Cornerspotter, Curbed's game in which you try to identify the location and/or identity of a particular building or streetscape in a historic photograph. Impress us and your fellow Curbed readers with your uncanny insight into New York City and its past!

This building is no longer the home of this institution, which has since moved to (and from) a building that was recently heralded as the apex of Modernism in architecture by a leading publication. By 1925, the institution that once occupied this building was the 29th largest in its industry in the United States. Funny enough, this building currently houses the same kind of operation these days, albeit a different establishment. Where is the building pictured and to what institution did it belong? Extra points if you can guess the location of the group's former, heralded headquarters.
· Cornerspotter archives [Curbed]