Monetizes Value of Residential and Retail Components While Retaining Office
NEW YORK, March 16, 2026 (GLOBE NEWSWIRE) — SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that it has entered into a contract to sell the residential and retail components of 7 Dey Street for total consideration of $222.6 million to GO Residential (TSX: GO.U). SL Green will retain ownership of the 26,000 square foot office component of the property. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.
“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 Chief Investment Officer 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 consists of 17,000 square feet of flagship retail space across the basement, ground and second floors; 26,000 square feet of commercial space across floors 3–5; and 217,000 square feet of residential space, comprised of 209 rental residences, which were designed by FXCollaborative and feature a full spectrum of studio through three bedroom layouts, and are currently 99% leased.
Drew Isaacson and Rob Hinckley of JLL Capital Markets represented SL Green in the transaction and David Ash of Prince Realty Advisors represented the buyer.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of December 31, 2025, SL Green held interests in 56 buildings totaling 31.4 million square feet. This included ownership interests in 28.0 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments, excluding fund investments.
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