{"id":167679,"date":"2026-03-18T21:19:33","date_gmt":"2026-03-18T21:19:33","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/167679\/"},"modified":"2026-03-18T21:19:33","modified_gmt":"2026-03-18T21:19:33","slug":"sl-green-in-contract-to-sell-7-dey-street-to-go-residential-for-223m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/167679\/","title":{"rendered":"SL Green in Contract to Sell 7 Dey Street to GO Residential for $223M \u2013 Commercial Observer"},"content":{"rendered":"

SL Green Realty<\/a> has reached a deal to sell the residential and retail component of a 34-story luxury rental property in Manhattan\u2019s Financial District.<\/p>\n

GO Residential<\/a> is set to buy the 209-unit residential portion of the tower at 7 Dey Street, which sits just across the street from the Fulton Transit Center, for $222.6 million, SL Green announced<\/a> Monday. Meanwhile, SL Green will continue to hold the 26,000 square feet of commercial office space on the third, fourth and fifth floors.<\/p>\n

SEE ALSO: Two Trees Buys Development Site in Brooklyn\u2019s Gowanus for $37M<\/a><\/p>\n

The deal is expected to close in the second quarter.<\/p>\n

\u201cThis transaction continues the execution of a deliberate strategy to illuminate the value of selected assets and unlock embedded value,\u201d Harrison Sitomer, president and chief investment officer of SL Green, said in a statement. \u201c[The transaction] 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.\u201d<\/p>\n

Drew Isaacson and Rob Hinckley of JLL<\/a> Capital Markets negotiated on behalf of SL Green while David Ash of Prince Realty Advisors<\/a> handled the deal for GO Residential.<\/p>\n

\u201cAs New York\u2019s residential market continues to outperform expectations with its very strong fundamentals, capital is gravitating towards well-located, mixed-use properties that can deliver both durability and upside,\u201d Hinckley said in a statement. \u201cWith the residential component 99 percent leased and very strong retail fundamentals, 7 Dey Street offered a compelling combination of stabilized cash flow and long-term growth potential, which this very active buyer recognized as a unique opportunity.\u201d<\/p>\n

Prince Realty Advisors did not immediately respond to\u00a0 requests for comment.<\/p>\n

Along with the office component on the third, fourth and fifth floors, 7 Dey Street also has 17,000 square feet of retail space across the basement, ground and second floors, which SL Green said is suitable for flagship tenants.<\/p>\n

At the time when leasing began in the new development in 2021, the property was one of the first construction projects in Lower Manhattan built under the Affordable New York Housing Program, also known as the now-lapsed 421a.<\/p>\n

Mark Hallum can be reached at mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"SL Green Realty has reached a deal to sell the residential and retail component of a 34-story luxury…\n","protected":false},"author":2,"featured_media":167680,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[68807,68808,26964,4461,2664,9,11,10,68809],"class_list":["post-167679","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-7-dey-street","tag-david-ash","tag-drew-isaacson","tag-harrison-sitomer","tag-investments-sales","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-rob-hinckley-channel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/167679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=167679"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/167679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/167680"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=167679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=167679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=167679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}