New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
SL Green Selling Majority Stake in Lower Manhattan Mixed-Use
SL Green Realty Corp. has entered into a contract to sell the residential and retail components of 7 Dey St. in Lower Manhattan for $222.6 million to Toronto-based GO Residential. SL Green will retain ownership of the 26,000-square-foot office component. The transaction is expected to close in the second quarter of 2026.
“This transaction continues the execution of a deliberate strategy to illuminate the value of selected assets and unlock embedded value,” said Harrison Sitomer, president and CIO of SL Green. “We are pleased to partner with GO Residential in a transaction that allows us to prove the value of best-in-class, new construction residential and retail properties, while retaining ownership of three office floors to realize future incremental value.”
Located directly across from the Fulton Transit Center, the 260,000-square-foot building includes 209 rental apartments. Drew Isaacson and Rob Hinckley of JLL Capital Markets represented SL Green. David Ash of Prince Realty Advisors represented the buyer.
- ◦Sale/Acquisition
