SL Green Realty divests Manhattan asset.

SL Green Realty divests Manhattan asset. SL Green Realty has agreed to sell the residential and retail components of 7 Dey Street in Manhattan to GO Residential for $222.6 million. The real estate investment trust will retain ownership of the building's 26,000 square foot office section. This strategic divestiture reflects ongoing portfolio optimization in the commercial real estate sector as companies adapt to changing market dynamics. The transaction is expected to close during the second quarter, allowing SL Green to focus on its core office holdings while monetizing underperforming residential and retail assets. This move demonstrates how major REITs are repositioning their portfolios in response to shifting tenant demand and market conditions in the New York City real estate market.