Capstone Equities, its partners Rugby Realty and Republic Investment Company and JLL announced that Conduct AI will open its first U.S. office at 140 Crosby St., a boutique Class A office building in Manhattan’s SoHo.
The lease encompasses the entire 6,705-square-foot third floor and represents the first transaction at the property since Capstone Equities took ownership. Founded in London in 2024, Conduct is building an AI operating system for enterprise software, using agentic AI to help businesses understand, operate and transform complex enterprise systems. The company raised $60 million in its Series A funding round in June and is expanding its engineering and go-to-market teams as it grows internationally. Its new SoHo headquarters will mark its first permanent U.S. location and accommodate more than 60 employees.
JLL Executive Managing Director Clark Finney, Director Alex Riguardi and Senior Associate Dana Goldman represented Capstone Equities in the transaction. Max Mond and John Brennan of Savills represented the tenant.
“Establishing a headquarters in New York was a crucial next step in building our U.S. presence,” said Will Sherman, head of U.S. operations at Conduct. “We needed a space that could accommodate our rapidly growing team and reflect our ambitious and collaborative culture. New York gives us access to an exceptional talent pool, with 140 Crosby providing the kind of environment that allows us to bring that talent together in a sleek, modern space as we continue to scale. Max and John understood these goals and identified a space that provides a strong foundation to build on the momentum we’ve established in London.”
The transaction comes as Capstone Equities prepares to make new investments in the property, including a renovation of its communal rooftop deck.
“Signing a fast-growing company like Conduct AI as our first new tenant speaks to the appeal of 140 Crosby and the kind of companies this property attracts,” said Daven Roshan, Director of Acquisitions at Capstone Equities. “With committed new ownership, a clear plan for the property and a strong partnership with JLL, we’re bringing a focused leasing and marketing strategy to a building that offers tenants a modern, purpose-built office at a scale that still feels intimate and distinctly SoHo.”
Developed in 2019 and designed by S9 Architecture, 140 Crosby St. is a six-story, 34,500-square-foot Class A office building located along Houston Street between Broadway and Crosby Street. It features bright, open floor plates ranging from approximately 4,648 to 7,623 square feet, and ceiling heights of nearly 18 ft.
The building has a dedicated Crosby Street office entrance, private outdoor space and a communal rooftop deck that Capstone plans to renovate to create an enhanced amenity for tenants. Its location at the intersection of SoHo and NoHo provides immediate access to restaurants, retail and multiple subway lines.
Asking rents in the building range from $150 to $165 per square foot.
“SoHo continues to benefit from companies that want an office environment that feels distinctive and connected to the neighborhood around it, and that is especially true at the boutique end of the market,” said Finney. “140 Crosby offers the combination of modern, efficient space, great natural light, high ceilings and a prime SoHo location. Conduct AI choosing the building for its first New York office is a strong endorsement of that offering.”
