Ramp Expands to 460,300 SF at Williams Equities’ Flatiron Office Buildings

• Ramp leased another 175,000 square feet at 28-40 West 23rd Street in the Flatiron District.
• The fintech now holds 460,300 square feet, all of floors six through 12.
• It is Ramp's third expansion since moving in during 2023.
• Williams Equities' 575,000-square-foot complex remains fully leased.

Ramp Takes Floors Six Through 12 in Its Third Expansion

Ramp continues to expand in the Flatiron District. The financial operations platform signed a long-term lease for an additional 175,000 square feet at 28-40 West 23rd Street, bringing its footprint to 460,300 square feet and giving it the entirety of floors six through 12 at the Williams Equities complex.

This is Ramp's third expansion since it moved into the building in 2023. It added 66,000 square feet in 2024 and 153,300 square feet in March 2026. In roughly three years, the company has grown its presence at the property about sevenfold.

Michael T. Cohen, Andrew Roos, Mac Roos, Rachel Kirkham and Jessica Verdi of Colliers represented ownership. Ryan Alexander, Jared Isaacson and Jeff Frenkel of CBRE represented Ramp.

Cohen, a principal at Williams Equities, framed the deal as validation of the firm's bet on prewar Midtown South product.

"Ramp's commitment to 28-40 West 23rd Street reflects our continued investment in trophy-quality, pre-war Midtown South assets that have attracted the city's leading technology companies and consumer brands including Netflix and DAZN. Midtown South continues to be the destination of choice for tech, creative, and service companies. It is home to many of the city's finest restaurants, green spaces, and plazas. It offers buildings with distinct character and combines the best of work and leisure."

A Former Stern Brothers Department Store, Now 100% Leased

The 12-story, roughly 575,000-square-foot complex sits on West 23rd Street between Fifth Avenue and Avenue of the Americas. It was originally home to the Stern Brothers department store, and the department-store bones show: ceiling heights reach 17 feet 6 inches and floor plates run up to 66,000 square feet, the kind of space a fast-growing tenant can stack without splitting teams across buildings.

Williams Equities has restored the white cast-iron façade and recently upgraded the property with a renovated glass atrium and skylight, a communal roof deck and three staffed lobbies.

Ramp shares the building with Netflix, sports streamer DAZN, Estée Lauder brand Aramis, and legal tech company Legora. Home Depot, the property's longtime retail anchor, occupies all of the retail frontage, about 120,000 square feet. The complex is fully leased.

Midtown South Posts Its Best Third Quarter on Record

The deal lands during a strong run for the submarket. Midtown South recorded 4.75 million square feet of office leasing in the third quarter of 2026, its strongest third quarter on record, according to Colliers. Availability fell to 11.6%, and average asking rents reached $79.57 per square foot.

Manhattan as a whole posted 10.06 million square feet of third-quarter leasing, the first time since 2002 the borough topped 10 million square feet for four straight quarters. Availability dropped to 12.4%, and average asking rents rose to $78.36 per square foot. Manhattan also leads the nation in net absorption year-to-date, with 8.8 million square feet, more than a quarter of the U.S. total.

What Comes Next at 28-40 West 23rd Street

With Ramp now holding seven full floors and the complex at 100% leased, Williams Equities has no vacant office space left to market at the property. The next test for the building is the tenant roster itself: four of its office tenants are tech and media companies, and Ramp has now expanded three times in about three years.