Financial technology company Ramp has expanded its office presence at 28-40 West 23rd Street in New York's Flatiron District for the second time this year. The company secured an additional 175,000 square feet of office space in the building complex owned by Williams Equities. This long-term lease agreement follows a 153,300-square-foot expansion in March, which was among the largest deals by volume in Manhattan's office market during the first quarter.
Following the latest lease, Ramp's total space in the 12-storey complex now spans 460,300 square feet, representing full occupancy of the sixth to twelfth floors. During negotiations, the fintech company was represented by Ryan Alexander, Jared Isaacson and Jeff Frenkel of CBRE. Acting on the landlord side were Michael T. Cohen, Andrew Roos, Mac Roos, Rachel Kirkham and Jessica Verdi of Colliers. Cohen and Andrew Roos lead the family business Williams Equities alongside Robert Getreu.
Continuous expansion since 2023
Michael T. Cohen stated that Ramp's commitment reflects ongoing investment in prime pre-war properties in Midtown South, which attract leading technology firms and brands such as Netflix and Dazn. Exact lease terms and rental conditions were not disclosed. According to data from Colliers, the average rent for Class B office space in Midtown South stood at $80.85 per square foot in the third quarter of 2026.
For Ramp, the transaction marks its third expansion within the property since 2023. At that time, the company initially took on 66,000 square feet via a sublease from Microsoft, doubling its New York footprint. In mid-2024, this was converted into a direct, long-term lease, followed a few months later by a further expansion of 66,000 square feet.
Full occupancy in historic Flatiron ensemble
The 575,000-square-foot complex on West 23rd Street comprises two buildings between Fifth Avenue and the Avenue of the Americas. The property is known for its white cast-iron facade and a 120,000-square-foot Home Depot store. Other occupiers include cosmetics brand Aramis, part of the Estée Lauder group, and software company Legora.
Driven by leasing momentum in Midtown South, the owners report that the buildings are fully let. Recent physical improvements to the property include:
- —Comprehensively modernised lobbies and entrance areas
- —A renovated internal glass atrium
- —A new communal roof terrace for tenants
Representatives from Ramp and CBRE initially declined to comment further on the details of the latest transaction upon request.
