NEW YORK, March  16, 2026  (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan&#39;s largest office landlord, today announced that it has entered into a contract to sell the residential and retail components of 7

SL Green Announces the Sale of 7 Dey Street

SL Green Realty to sell $222.6 million property, reinforcing office focus

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  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK, March  16, 2026  (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan&amp;#39;s largest office landlord, today announced that it has entered into a contract to sell the residential and retail components of 7</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>SL Green Realty Corp. has contracted to sell the residential and retail components of 7 Dey Street for $222.6 million, allowing it to concentrate on its office properties. This strategic move is anticipated to close in Q2 2026, likely boosting SLG&#039;s financial health and reinforcing its position as Manhattan&#039;s largest office landlord.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>SL Green Realty sold retail and residential parts of 7 Dey Street for $222.6 million.</li><li>The sale allows SLG to focus on its Manhattan office space strategy.</li><li>The transaction is expected to close in Q2 2026, enhancing SLG&#039;s financial position.</li><li>Management emphasizes unlocking embedded value in selected assets through this deal.</li><li>The 260,000-square-foot property is nearly fully leased, enhancing its attractiveness.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>GO Residential (GO)</strong>: Buying the residential and retail components, enhances SLG&#039;s liquidity.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it reflects a strategic asset sale to optimize SLG&#039;s portfolio and concentrate on its office real estate strategy, which is crucial for enhancing investor confidence and future growth potential.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Retention of valuable office component may enhance SLG&#039;s future revenue growth.</li><li>Closing of sale could unlock immediate incremental cash for reinvestment.</li><li>Strong leasing statistics (99% occupancy) add confidence in asset value.</li><li>Partnership with GO Residential may enable further collaborative projects, increasing market presence.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Sale price for 7 Dey Street is $222.6 million.</li><li>SLG retains 26,000 square feet of valuable office space.</li><li>The building has 217,000 square feet of residential space, 99% leased.</li><li>Transaction close anticipated in Q2 2026.</li><li>SL Green is Manhattan&#039;s largest office landlord, managing 31.4 million square feet.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>SLG shares are likely to appreciate as the transaction strengthens the balance sheet in the near term.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>NEW YORK, March  16, 2026  (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SLG">SLG</a>), 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:<a class="ticker" href="https://www.benzinga.com/quote/GO">GO</a>). 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.</p>  <p>"This transaction continues the execution of a deliberate strategy to illuminate the value of selected assets and unlock embedded value," said <strong>Harrison Sitomer, President and Chief Investment Officer of SL Green</strong>. "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."</p>  <p>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.</p>  <p>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.</p>  <p><strong>About SL Green Realty Corp.</strong><br></br>SL Green Realty Corp., Manhattan&#39;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.</p>  <p><strong>Forward Looking Statement</strong><br></br>This press release includes certain statements that may be deemed to be &#34;forward-looking statements&#34; within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words &#34;may,&#34; &#34;will,&#34; &#34;should,&#34; &#34;expect,&#34; &#34;anticipate,&#34; &#34;estimate,&#34; &#34;believe,&#34; &#34;intend,&#34; &#34;project,&#34; &#34;continue,&#34; or the negative of these words, or other similar words or terms.</p>  <p>Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.</p>  <p>PRESS CONTACT<br></br><a href="https://www.globenewswire.com/Tracker?data=b8a6lHFgTN6YNcC2qLcMTTtjFTtwajKweoANfSFkusxzveU6vbAMRKyCe1Rda5-RfyZPa0SYBGPWkPOfTGNWGB7J_Q58R24cyMTF3Cwukto=" rel="nofollow" target="_blank">slgreen@berlinrosen.com</a></p>  <p>SLG-A&amp;D</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY3MzEyMiM3NDg4NjUzIzIwMDgyNDM="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MDMwMTlkOTAtZDY2MC00MDlkLWE5MDYtMmRiNDEyMWFjZDliLTEwMTk4MTYtMjAyNi0wMy0xNi1lbg==/tiny/SL-Green-Realty-Corp.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/fd1a857e-5838-406f-a5e3-1ee8f6d83bb1"><img src="https://ml.globenewswire.com/media/fd1a857e-5838-406f-a5e3-1ee8f6d83bb1/small/slglogo-png.png" border="0" width="150" height="43" alt="Primary Logo"></img></a></p>

SL Green Realty Corp. has contracted to sell the residential and retail components of 7 Dey Street for $222.6 million, allowing it to concentrate on its office properties. This strategic move is anticipated to close in Q2 2026, likely boosting SLG's financial health and reinforcing its position as Manhattan's largest office landlord.

SL Green Announces the Sale of 7 Dey Street

AI Summary

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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