Looking at their course offerings, there are a few this semester and next semester being offered that fit under the category of "modern and contemporary." You will likely take courses outside of your immediate field of research in an MA program, though. A big component of the degree is developing more advanced writing and research skills, especially if you look forward to pursuing a Ph.D. too, and working in an unfamiliar field can be helpful for this. As long as there are a couple of professors you could envision being your thesis advisor, then there is no harm in applying to UPenn. Also look at other 'lesser known' schools in the US. The College Art Association has a list of programs with MA and PhD offerings that can be useful.