Financial technology firm Ramp is expanding its footprint at 28-40 West 23rd Street for the second time this year. The company has secured an additional 175,000 square feet of office space in the Williams Equities building complex in Manhattan's Flatiron District.
The long-term space expansion follows an agreement signed in March for 153,300 square feet, which was among Manhattan's largest office lettings in the first quarter. Following this latest deal, Ramp's total presence across the 12-storey complex now reaches 460,300 square feet, spanning the entirety of floors six to 12.
Continued growth in the Midtown South portfolio
In the transaction, Ramp was represented by Ryan Alexander, Jared Isaacson, and Jeff Frenkel of CBRE. Acting on behalf of the landlord were Michael T. Cohen, Andrew Roos, Mac Roos, Rachel Kirkham, and Jessica Verdi of Colliers. Cohen and Andrew Roos, alongside Robert Getreu, are partners in the family-run firm Williams Equities.
Cohen stated that Ramp's commitment to the West 23rd Street property reflected sustained investment in high-quality pre-war properties across Midtown South. He noted that such buildings have proved to be an attraction for prominent technology firms and consumer brands, including Netflix and Dazn.
The exact lease term and rental rate were not disclosed. According to Colliers, average asking rents for Class B office space in Midtown South stood at $80.85 per square foot in the third quarter of 2026.
Historic building fabric fully let
The agreement marks Ramp's third expansion at the location since 2023. At that time, the company initially took 66,000 square feet under a sublease from Microsoft. In mid-2024, this arrangement was converted into a direct lease, followed by a further 66,000-square-foot expansion several months later.
Totalling 575,000 square feet, the complex spans two buildings between Fifth Avenue and the Avenue of the Americas. The property is distinguished by its white cast-iron facade and accommodates a 120,000-square-foot Home Depot store, alongside occupiers such as Estée Lauder brand Aramis and software company Legora. According to the owners, the asset is fully let on the back of robust demand in Midtown South.
- —Comprehensively modernised entrance areas
- —A refurbished, glass-covered atrium
- —A shared roof terrace for tenants
