Fintech Startup Expands in Flatiron District
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Ramp, a New York-based fintech startup, is moving to a new office in the Flatiron District. The company will sublease 66,000 square feet on the entire second floor of the Home Depot building at 28-40 West 23rd Street. The space is currently occupied by Microsoft and Ramp’s long-term lease will go into effect once the tech giant’s deal expires in the second quarter of 2024.
Mac Roos, Andrew Roos, Michael Cohen and Jessica Verdi of Colliers brokered the deal on behalf of the landlord, Williams Equities, while Cushman & Wakefield’s Michael Mathias and Richard Johns represented Ramp.
The move is an expansion from the fintech startup’s current 30,404-square-foot office space in Manhattan, on the sixth floor of 71 Fifth Avenue.
“This relocation is a meaningful milestone,” Ramp CEO Eric Glyman said in a statement. According to talent head Jacob Wallenberg, the company’s workforce has grown by more than 50% over the past year, prompting the move to a large workplace that would accommodate their employee’s needs.
“Ramp is one of the fastest growing startups in New York,” Mac Roos said in a statement. “We look forward to their continued growth as they bring the kind of creative energy and workforce that thrive within the building.”
The mixed-use property at 28-40 West 23rd Street comprises two buildings totaling 561,000 square feet between Fifth and Sixth avenues. The current tenant roster includes the likes of Home Depot – which occupies the ground floor, lower level and mezzanine – as well as Estee Lauder brand Aramis.
Both properties have undergone improvements recently, with Williams Equities refurbishing the lobbies and adding new cooling towers on the roof. There are also plans to build a roof deck.
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