7 Dey Street: New FiDi tower offers two months free rent and the chance to earn points for paying rent

By CityRealty Staff | From Financial District/BPC Monday, January 3, 2022

7 Dey Street (courtesy of SL Green)

At the height of the coronavirus pandemic in 2020, New York City rents plunged to levels thought to be left in yesteryear, and landlords and managers tripped over themselves to offer rent concessions, signing gifts, and other incentives. However, in spite of the Omicron variant, New York City remains such in high demand - the Census Bureau found that the city's population went up nearly 8 percent since 2010 - that the concessions and incentives are not nearly as widespread anymore.

In the midst of all this, the Financial District's transition from a 9-5 neighborhood to 24/7 vibrancy and livability has not been disrupted. A new crop of residential buildings with extensive amenities has sprung up in rencent years, with the latest entrant being 7 Dey Street, a 209-unit mixed-income tower on the corner of Dey Street and Broadway. It is almost exactly centered between the Fulton Center and the World Trade Center's Oculus, Lower Manhattan's largest transit hubs.

In fall 2021, as part of the Affordable New York Housing program, the building had an affordable lottery for 63 studio through three-bedroom units from $1,329/month. Market-rate availabilities start at $4,689/month for one-bedrooms, and a two-bedroom is also listed for $7,956/month. All prices are net effective to reflect a rent concession of two months free rent on an 18-month lease. This puts them more closely in line with the Financial District median rent of $4,696/month and $6,988/month for similarly sized units (per CityRealty listings).

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7 Dey Street in the distance seen from Fulton Street

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Fitness center

SL Green Realty, New York City’s largest office landlord, is at the helm of the 260,000-square-foot project. The mixed-use tower features street-level retail, several floors of offices, and apartments on floors 6-30. Floors 31 and 32 are dedicated to residential amenities, which include co-working areas, a conference room, a fully equipped fitness center and hot yoga studio, two indoor lounges with outdoor terraces, and a roof deck with grilling stations and glimpses of City Hall Park and the Midtown skyline. The design by FXCollaborative uses glazing and brick to combine old and new design, and a commercial podium allows for the full zoning allowance, as well as elevating the apartments for better light and air.

Interiors via Douglas Elliman

Studio for $3,124/month with 2 months free

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Studio for $3,613/month with 2 months free

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1-bed for $4,389/month with 2 months free

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2-bed for $6,317/month with 2 months free rent

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Select apartments have private terraces, and all units come with wall-to-wall windows, white oak flooring, and in-unit Bosch washer/dryers. Custom kitchens feature warm wood cabinetry, quartz countertops, counter-to-cabinet porcelain backsplashes, and integrated appliances. Baths are designed with porcelain tiles, glass-enclosed showers and tubs, and light wood custom vanities. In addition to the upper-level amenities, further conveniences at 7 Dey Street include an attended lobby, concierge service, valet service, and bike room.

Most interestingly, 7 Dey Street is a participant in Bilt Rewards, a loyalty program for renters founded on the idea that rent is one of the single biggest monthly expenses for many people, yet most get nothing out of it. Bilt Rewards changes that by allowing members to earn points with each monthly rent payment. These points may be used to take boutique fitness classes, embark on travel adventures, or even put towards a down payment on a home.