SL Green to Sell 7 Dey Street Residential and Retail for $222.6M
SL Green Realty has contracted to sell the residential and retail components of 7 Dey Street for $222.6 million to GO Residential, closing in Q2 2026. The company will retain the 26,000-square-foot office portion for future value realization.
1. Transaction Details
SL Green Realty 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. The deal is expected to close in the second quarter of 2026, subject to customary closing conditions.
2. Property Composition
The 260,000-square-foot building comprises 217,000 square feet of residential space across 209 units (currently 99% leased), 17,000 square feet of flagship retail spread over the basement, ground, and second floors, and a 26,000-square-foot office component which SL Green will retain.
3. Strategic Rationale
This transaction aligns with SL Green’s strategy to illuminate standalone asset values and unlock embedded equity. By monetizing the residential and retail portions while holding the office floors, the company aims to realize future incremental value from a best-in-class Manhattan property.