Peter Strauss is a transactional real estate lawyer with over 30 years of experience whose practice focuses on the representation of both owners and tenants in complex lease transactions in New York City and throughout the United States. Peter has represented property owners in some of the largest office lease transactions in New York City in terms of square footage and with respect to the highest rents fetched. He also has significant experience in ground lease transactions.
Peter has a breadth of experience in other commercial real estate transactions including representing buyers and sellers of development sites and buyers and sellers of stabilized real estate assets. Peter also regularly represents lenders in secured and unsecured credit facilities, large construction loans, multi-state transactions and large loan workouts, borrowers in large mortgage loans, developers, equity investors, and parties to joint ventures. He also has significant experience with construction and development issues, including advising owners with respect to development management and construction management agreements, construction contracts and construction administration issues.
Peter has also served as a senior officer in business and legal affairs for the world’s largest diversified venue owner and operator and producer of live entertainment events.
Select examples of Peter's prior experience include:
- Represented a professional sports association with respect to the leasing of 400,000 rentable square feet of office space at 1271 Avenue of the Americas in New York City under a 15-year lease with the Rockefeller Group, including various expansion options.
- Represented a real estate investment trust company in connection with a long-term lease with Bloomberg L.P., covering approximately 350,000 rentable square feet, including ten floors and ground floor space at 919 Third Avenue.
- Represented the owner of 315 Hudson Street in a lease with Google covering 270,000 rentable square feet.
- Represented the New York City Economic Development Corporation on the leasing of approximately 220,000 rentable square feet of office space at 1 Liberty Plaza in New York City to serve as its headquarters.
- Represented the owner of 9 West 57th Street in New York City, in a $1.2 billion securitized loan and the defeasance of the existing $625 million loan, and on-going lease transactions, including recent lease transactions affecting more than 1,200,000 rentable square feet.
- Represented a real estate investment trust company in a joint venture with Jeff Sutton affiliates with respect to an expansion of their leasehold at 650 Fifth Avenue in New York City at 52 Street and a simultaneous lease transaction with Nike, Inc.; the new space lease comprises the building’s entire retail component consisting of the ground and five additional floors - an area of approximately 70,000 square feet.
- Represented a private client in a joint venture with General Growth Properties for the acquisition of Manhattan’s Crown Building at 730 Fifth Avenue for a reported $1.75 billion, setting a world record for price paid per square foot for an entire office building.
- Represented a real estate investment trust company in a lease transaction with an affiliate of Citigroup Inc. extending Citi’s triple-net leases of its world headquarters covering 2,634,670 square feet at 388-390 Greenwich Street through December 31, 2035 (subject to further options to extend). The agreement included an option for Citi to acquire the properties. The transaction is believed to be the largest lease transaction of its type in New York City history.
- Represented a government agency in connection with the $526 million financing of the construction of the Moynihan Train Hall Redevelopment Project in New York City, which will help transform the James A. Farley Post Office Building in Manhattan to include a modern, state-of-the-art train station and will deliver critical improvements and expansions to congestion and delays in the North East Corridor rail service.
- St. John's University School of Law, J.D.
- Washington University, B.A.
- New Jersey
- New York
- Named "Best Lawyer" in Real Estate Law by The Best Lawyers in America (2020)
- Member, New York City Bar Association
- Member, New York State Bar Association
- Member, American Bar Association: Real Property, Probate and Trusts Law Section
- Member, American Bar Association: Construction Law Forum
- Member, Empire State Counsel® (2008, 2010, 2012, 2016 and 2017)
- Adjunct Professor of Law, St. John’s University School of Law (2018)