Capstone Equities and its partners Rugby Realty and Republic Investment Company have secured a new technology tenant for 140 Crosby St., a boutique Class A office building in Manhattan’s SoHo neighborhood. Conduct AI, a UK-based artificial intelligence company, has signed a lease for the entire third floor, marking the firm’s first office in the United States and the first lease transaction at the property since Capstone Equities took ownership.
The lease covers 6,705 square feet on the third floor, positioning Conduct AI in a full-floor office setting within the SoHo asset. The transaction underscores new leasing activity at 140 Crosby St. following its change in ownership and highlights continued demand from technology and AI users for high-quality office environments in established urban neighborhoods.
Conduct AI was founded in London in 2024 and focuses on developing an AI operating system for enterprise software. The platform uses agentic AI to help businesses understand, operate and transform complex enterprise systems. The company raised $60 million in a Series A funding round in June and is currently expanding both its engineering and go-to-market teams as it scales internationally.
The new SoHo office will serve as Conduct AI’s first permanent U.S. location and will function as its headquarters in the market. According to the announcement, the space is expected to accommodate more than 60 employees, aligning with the firm’s ongoing hiring plans as it builds out its global presence.
Capstone Equities is planning additional investments at 140 Crosby St., including a renovation of the building’s communal rooftop deck. The owner views the Conduct AI lease as indicative of the property’s appeal to growing, innovation-oriented companies. Daven Roshan, Director of Acquisitions at Capstone Equities, noted that securing a fast-growing firm as the first new tenant reflects the type of occupier the asset is attracting.
JLL Executive Managing Director Clark Finney, Director Alex Riguardi and Senior Associate Dana Goldman represented Capstone Equities in the transaction. Conduct AI was represented by Savills professionals Max Mond and John Brennan. The parties did not disclose lease economics or term length.
