Richard E. Strauss
Richard E. Strauss has been a partner with Moses & Singer since 1979 and is Co-Chair of its Real Estate practice. Richard’s practice covers a broad range of real estate transactions, with an emphasis on representation of financial institutions in their internal real estate transactions.
Noteworthy leasing transactions include the lease up of a number of major office buildings in Manhattan on behalf of their institutional owners. These included an anchor tenant lease for 400,000 square feet with complex expansion options and the takeover of a 200,000 square foot lease obligation, and disposition through sublet and surrender. Tenant representations range from 200,000+ square feet of new construction to be anchored or for exclusive occupancy; specialty leases, such as a data center (which expanded to over 300,000 square feet of office space in the project); disaster recovery centers and retail space for banks and other financial institutions.
Sale and purchase transactions include the acquisition of a 1,600,000 square foot Wall Street office tower, followed by a sale leaseback (which represented the largest single building sale in Lower Manhattan history); the buy-out of the other partners and the sale by the general partner of a 30-story multi-tenant office tower in the Rockefeller Center area in New York City; the assemblage of ownership interests in a major Park Avenue office building, including the exercise of purchase options, and arbitration to determine its fair market value, and the ultimate disposition of the building in a tax-free exchange; and the sale (in lieu of eminent domain) of an environmentally compromised, 40-story office building.
Richard’s real estate background also includes financing transactions. Some major projects include the construction financing for the World Financial Center office complex in lower Manhattan and the permanent refinancing of the multi-tenanted portion of a new Times Square office building developed as a commercial condominium for the headquarters for a major newspaper publisher. He has also represented lenders in sports and entertainment facilities and hotel financings across the country. In addition, Richard has represented developers and lenders in rated, securitized financings backed by credit leases and tax exempt bond financings for industrial facilities, housing projects, and other public purpose projects.
He represents lenders in the renegotiation and workout of, or the foreclosure or taking of title to, numerous projects in default. These include commercial and mixed-use projects in development and hotel properties.
Richard has lectured and published on such subjects as real estate workouts, lending to REITs, corporate real estate disaster contingency planning, construction loans and lease issues. He was honored by Law & Politics in their listing of New York Super Lawyers® and rated AV Preeminent® in his field by Martindale-Hubbell™.
- American Bar Association (Member, Real Property Committee)
- New York State Bar Association
- CoreNet Global Association of Corporate Real Estate Executives
- Association of Foreign Investors in Real Estate
- Mortgage Bankers Association of New York
- Pi Tau Sigma
- Tau Beta Pi