SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office
landlord, and Douglas Elliman, one of the largest independent
residential real estate brokerages in the United States, today
announced the launch of leasing at 7 Dey Street. A 34-story,
mixed-use building in Lower Manhattan, the property will be the
neighborhood’s first development built under the Affordable New
York Housing Program.
“We were proud to keep this building on schedule through the
pandemic and are excited to bring 7 Dey to market as demand for
prime Manhattan residential properties is surging,” said
Brett Herschenfeld, Managing Director at SL Green.
“Centrally located in one of New York’s leading transportation and
economic hubs, 7 Dey brings world-class architecture and
much-needed housing to Lower Manhattan.” “Downtown is one of New
York’s most sought after residential locations, and 7 Dey provides
modern, sophisticated residences that are in high demand and short
supply,” said Matthew Villetto, Executive Vice President,
Douglas Elliman Development Marketing. “Combining first in
class design and robust lifestyle and amenity offering in a
boutique setting, 7 Dey is a standout address built for the way we
live today.”
Located directly across from the Fulton Transit Center, the
260,000-square-foot building will consist of 17,000 square feet of
flagship retail space at the base across the basement, ground and
2nd floors; 26,000 square feet of commercial space across floors 3
- 5 and 217,000 square feet of residential space. The column-free
ground floor retail sits directly on Broadway and features 22-foot
high ceilings. The Dey Street building frontage contains two
separate entrance lobbies for the residential and commercial
spaces.
FXCollaborative designed the 209-unit rental property, with a
mixture of studio, one-bedroom, two-bedroom and three-bedroom
units. Standing side by side with downtown classics, the stunning
residence is a new addition for a neighborhood on the move that
advances the architectural history of Lower Manhattan.
The building’s interiors were designed by INC Architecture &
Design, including three floors of amenities. Units boast oversized
living rooms, wall-to-wall windows, exceptional views and more. 7
Dey’s amenities include a co-working space, state-of-the-art
fitness center designed by fitness visionary Jay Wright of The
Wright Fit, club lounge, board room and abundant outdoor spaces via
sprawling multi-level terraces and loggia space.
As part of the Bilt Rewards Alliance, 7 Dey Street will also
offer residents access to Bilt Rewards and the Bilt Mastercard -
the new loyalty program and co-brand credit card that enables
residents to pay rent and earn points on their largest monthly
expense with no fees. By partnering with Bilt, 7 Dey residents can
redeem Bilt Rewards points towards travel with over 100 airlines
and hotel partners, fitness classes at the country’s top boutique
studios, a curated collection of art and home decor items through
the Bilt Collection and more. Bilt Rewards also offers the ability
for members to use points towards rent credits, or even towards a
down payment on a future home.The development was made possible in
part through the use of unutilized air rights purchased by SL Green
from the Metropolitan Transportation Authority (MTA), providing
discretionary funding to the MTA.
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 value of
Manhattan commercial properties. As of June 30, 2021, SL Green held
interests in 77 buildings totaling 35.3 million square feet. This
included ownership interests in 27.1 million square feet of
Manhattan buildings and 7.4 million square feet securing debt and
preferred equity investments.
About Douglas Elliman Real Estate
Established in 1911, Douglas Elliman Real Estate is the largest
brokerage in the New York Metropolitan area and one of the
largest independent residential real estate brokerages in the
United States. With approximately 7,000 agents, the company
operates approximately 100 offices in New York City, Long Island,
The Hamptons, Westchester, Connecticut, New Jersey, Florida,
California, Colorado, Massachusetts and Texas. Moreover, Douglas
Elliman has a strategic global alliance with London-based Knight
Frank Residential for business in the worldwide luxury markets
spanning 61 countries and six continents. The company also controls
a portfolio of real estate services including Douglas Elliman
Development Marketing, Douglas Elliman Property Management and
Douglas Elliman Commercial. For more information on Douglas Elliman
as well as expert commentary on emerging trends in the real estate
industry, please visit elliman.com.
About Douglas Elliman Development Marketing
(DEDM)Douglas Elliman Development Marketing, a division of
Douglas Elliman Real Estate, offers unmatched expertise in sales,
leasing, and marketing for new developments throughout New York
City, Long Island, Westchester, New Jersey, Florida, California,
Massachusetts, and Texas. The company’s new development hybrid
platform matches highly experienced new development experts with
skilled brokerage professionals who provide unparalleled expertise
and real time market intelligence to its clients. The firm is
heralded for its achievements in record breaking sales
throughout each of its regions. Drawing upon decades of experience
and market-specific knowledge, Douglas Elliman Development
Marketing offers a multidisciplinary approach that includes
comprehensive in-house research, planning and design, marketing,
and sales. Through a strategic global alliance with Knight Frank
Residential, the world’s largest privately-owned property
consultancy, the company markets properties to audiences in 61
countries, representing an over $87 billion global new development
portfolio. https://www.elliman.com/marketingAbout Bilt
Rewards
Bilt Rewards is the first-ever rewards program that allows
renters to earn points on rent and builds a path towards
homeownership. Through a June 2021 launch partnership with the
nation’s largest real estate owners including SL Green Realty
Corp., Avalon Bay Communities, Equity Residential, Related,
Starwood Capital Group and more, Bilt Rewards will enable renters
in more than two million units across the country to earn points
just by paying rent. Bilt Rewards boasts one of the highest value
rewards programs on the market today, including one-to-one point
transfers to 9 loyalty programs allowing travel across over 100
major airlines and hotel partners; fitness classes at the country’s
top boutique studios including SoulCycle, Rumble and Y7;
limited-edition and exclusive collections of art and home decor
through the Bilt Collection, and the ability to use Bilt points for
rent credits or towards a future down payment. Bilt has also
partnered with Mastercard to create the Bilt Mastercard - the first
and only credit card that can be used to pay rent with no fees.
Bilt Rewards is a Kairos company. For more information, visit
BiltRewards.com.
Forward Looking Statement
This press release includes certain statements that may be
deemed to be “forward-looking statements” 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, are forward-looking statements. 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 “may,” “will,”
“should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,”
“project,” “continue,” or the negative of these words, or other
similar words or terms.
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 related
to the on-going COVID-19 pandemic and the duration and impact it
will have on our business and the industry as a whole and the other
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.
Matt DiLibertoChief Financial Officer212.594.2700
SL Green Realty (NYSE:SLG)
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