Richard Strasser Email & Phone Number

New York, Ny, Us

New York, New York, United States

Operational turnaround and financial restructuring of, as well as exit from, two specific commercial real estate portfolios.

New York City Metropolitan Area

Advise borrowers, lenders and investors in the renegotiation of capital structures and the maximization of commercial real estate asset values in stressed market environments.

Greenwich, Connecticut, United States

Originated and managed private market and public market real estate investments in the United States and internationally.

New York, New York, United States

One of two principals leading an investment group brought in by Prudential Securities to acquire control of and turnaround 5 real estate ventures owning more than 800,000 square feet of office & retail space in midtown Manhattan and the Sheraton Hotel in Stamford, CT. Selected accomplishments:- Implemented the financial, operational and legal restructuring of the ventures through the severe real estate downturn of the early 1990s and directed and managed litigation flowing out of the $8 billion Prudential Securities scandal.- Reformulated leasing and marketing strategies and supervised third-party brokers with respect to four midtown Manhattan office buildings.- Personally showed space to hundreds of potential office tenants.- Personally negotiated new and renewal leases in more than 300 office and retail real estate transactions, representing more than $60 million in cumulative rental value.- Developed and implemented strategy to insert demolition clauses in the leases of one property with development potential, thereby unlocking long-term value.- Negotiated, costed-out and supervised tenant improvements associated with leases; dealt with contractors on a day-to-day basis.- Developed and implemented leasing & T/I CapEx strategies to mitigate risks posed by tenants with weaker credit.- Co-led the workout and bankruptcy of a midtown Manhattan office venture; succeeded in stretching out the single asset bankruptcy reorganization over 3 years.- Participated in the negotiation of a $150 million loan restructuring involving the Stamford Sheraton Hotel during the course of 3 years of litigation with lenders.- Planned -- with outside attorneys -- litigation defense strategy with respect to more than half a dozen investor/class action lawsuits flowing principally out of Prudential Securities scandal.- Developed and implemented -- with several leading New York law firms and a top U.S. crisis communications firm -- a press and investor relations strategy.

Mba

J.D.

Graduated cum laude (with honors).

Ab, Economics

Activities and Societies: Harvard Crimson; Center for International AffairsGraduated magna cum laude (with high honors).

High School

M.Sc., Economics