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40 West 23rd Street

Office

Ramp Expands Office Lease At 40 West 23rd Street In Flatiron To 285303 Square Feet

40 West 23rd Street

Building Size

285,303 SF

Asset Type

Office

Closing

Mar 15, 2026

AI

The property involved in this transaction is an office asset located at 40 West 23rd Street in the Flatiron District, comprising a total square footage of 285,303. The lease agreement represents a significant expansion for the tenant with the details of the deal finalized in early March 2026.

Summary of transaction details:

The deal showcases Ramp's strategic expansion within the interconnected buildings located at 28 and 40 W. 23rd St., bringing its overall footprint to a substantial total. The transaction was facilitated by the collaboration of the landlord's and tenant's representatives, who played pivotal roles in finalizing the lease agreement.

Players

Andrew Roos

Colliers

Broker

5 deals

Broker
WE
Williams EquitiesLandlord

New York Office Market Snapshot

Boundary boundary · Office · All transaction types transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93