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Ramp Expands Office Space, Acquires 66,000 SF On West 23rd Street

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LEASED
Michael Cohen
Michael (Mike) Mathias
+ 3

New York

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Mixed-use132,000 SF
Leased 09/27/2023
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Property Image
LEASED

Ramp Expands Office Space, Acquires 66,000 SF On West 23rd Street

28 West 23rd Street & 40 West 23rd Street

See Similar Deals
Mixed-use132,000 SF
Leased 09/27/2023
Michael Cohen
Michael (Mike) Mathias
+ 3
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$0
Total Square Footage:132,000 SF
Transaction Type:Lease

The property involved in this lease transaction is located at 28-40 West 23rd Street in the Flatiron District of Manhattan. It is a mixed-use asset spanning a total of 66,000 square feet.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: Not applicable (lease)
  • Address: 28-40 West 23rd Street
  • Market: Flatiron District, Manhattan
  • Square Footage: 66,000

Ramp, represented by Michael Mathias and Richard Johns of Cushman & Wakefield, is the tenant in this lease agreement. They are expanding their office space by moving to a larger location eight blocks uptown. The new space is situated on the entire second floor of the Home Depot building at 28-40 West 23rd Street. This move allows Ramp to occupy Microsoft's previous 66,000 square feet of office space in the Flatiron District of Manhattan.

On the landlord's side, Williams Equities, headed by Michael Berger, owns the property at 28-40 West 23rd Street. They were represented by Andrew Roos, Jessica Verdi, and Michael Cohen from Colliers International. Through this lease transaction, Ramp and Williams Equities have entered into an agreement that facilitates Ramp's expansion into the Flatiron District.

Players

Andrew Roos
5 deals
BROKER

Michael (Mike) Mathias
Cushman & Wakefield
11 deals(212) 709-0703
BROKER




LANDLORD

Eric Glyman
Ramp
7 deals
TENANT

Details

LEASED
IMAGE: Andrew Roos, Jessica Verdi, Michael Berger, Eric Glyman, Michael Cohen & Michael Mathias DATE: 09/27/2023 ADDRESS: 28-40 West 23rd Street MARKET: Flatiron District, Manhattan ASSET TYPE: Mixed-use ~ SF: 66,000 LANDLORD: Williams Equities - Michael Berger TENANT: Eric Glyman (@Eric.Glyman) - Ramp (@TryRamp) LANDLORD'S REP: Andrew Roos, Jessica Verdi & Michael Cohen - Colliers International (@ColliersInternational) TENANT'S REP: Michael Mathias & Richard Johns - Cushman & Wakefield (@CushWake) NOTE: Ramp is expanding its office space by moving to a larger location eight blocks uptown, taking over Microsoft's 66,000 square feet on the entire second floor of the Home Depot building at 28-40 West 23rd Street in Manhattan's Flatiron District.

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Deal Type
Effective Rent (Annual)

$7,566,160.35

Total Lease Value

$75,661,603.46

Net Landlord Cash Flow$7,566,160.35