Conduct AI opens first U.S. office at Capstone Equities’ 140 Crosby St. in SoHo

• Conduct AI has leased 6,705 square feet at 140 Crosby St. for its first U.S. office.
• Capstone plans new investments to enhance the tenant experience at its boutique SoHo property.
• JLL serves as exclusive leasing agent for 140 Crosby St.

NEW YORK, Sept. 24, 2026 – Capstone Equities, its partners Rugby Realty and Republic Investment Company, and JLL announced today that Conduct AI will open its first U.S. office at 140 Crosby St., a boutique Class A office building in Manhattan’s SoHo neighborhood.

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.

“Establishing a headquarters in New York was a crucial next step in building our U.S. presence,” said Will Sherman, head of US 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.

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. 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.”

“Conduct approached this search with a clear objective: a workplace that reflects the caliber of its team and supports its next phase of growth,” said Mond. “Capstone’s vision for 140 Crosby and the way they have positioned the building set it apart from every comparable asset we evaluated in the submarket. The result is a headquarters that reinforces Conduct’s brand and culture and strengthens its ability to recruit and retain the best talent in artificial intelligence.”

The SoHo submarket continues to benefit from strong demand for high-quality, well-located office space. The submarket recorded more than 81,600 square feet of positive net absorption during the first half of 2026, according to JLL Research, while Class A vacancy stood at just 6.6% at the end of the second quarter.

Other tenants at 140 Crosby St. include retail tenants Citizens Bank and JBL Electronics.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

For more news, videos and research resources visit JLL’s newsroom.

Capstone Equities is a New York City-based real estate private equity and investment firm founded in 2006. The firm specializes in opportunistic property acquisitions, distressed assets, and non-performing loans (NPLs) across major domestic US markets, as well as throughout Europe. Led by founder Joshua Zamir and Partner Avi Kollenscher, Capstone Equities utilizes a hands-on, vertically integrated approach to execute asset management strategies, debt investments, and equity transactions. Visit www.capstonecm.com

Rugby Realty is a privately held commercial real estate investment, development and management firm with decades of experience acquiring, repositioning and operating properties in New York and key markets throughout the United States. Through a hands-on, entrepreneurial approach to ownership, Rugby creates value through strategic investment, active leasing and asset management across office, retail, industrial and mixed-use properties.

Republic Investment Company is a commercial real estate-specialized family office founded in 1983 by Ben Nehmadi, with an active real estate portfolio comprised of over 25 properties, including hotels, offices, multifamily buildings and land.