Ex-Salomon Brothers President Strauss Sells Park Avenue Co-op for $22M

Tom Strauss, who served as president of Salomon Brothers before the firm’s 1997 merger into what became Citigroup, and his wife Bonnie Strauss have sold their Park Avenue co-op for about $22 million, Crain’s New York Business reported. The buyer is a trust tied to financier George Rohr.

Why it matters

A Wall Street figure cashing out of a Park Avenue co-op at this scale is a data point on where Manhattan’s prewar co-op market sits heading into year end. Strauss built his career at Salomon Brothers, one of the defining bond-trading houses of the 1980s, before the firm was absorbed into what is now Citigroup. His exit from a trophy Park Avenue address adds to a steady run of Wall Street-linked co-op sales on the avenue this year, and the buyer side, a trust connected to financier George Rohr, keeps the building’s roster of ownership inside the same world of finance that has long defined Park Avenue’s co-op boards.

The numbers

The reported price of roughly $22 million lands the Strauss sale among the larger Park Avenue co-op trades of 2026, a year that has seen a steady run of trophy-level exits on the avenue, according to Crain’s reporting on the broader market. The sale comes as the 30-year fixed mortgage rate sits at 7.3 percent as of October 2026 and New York metro home values are up 4.9 percent year over year, per Freddie Mac and Zillow data, a backdrop under which all-cash trophy co-op deals like this one continue to trade largely outside the financed market that rate shapes.

What’s next

Crain’s did not report a closing date beyond the late October sale, and co-op boards rarely disclose financing terms, so there is no public timeline yet for when Rohr’s trust takes occupancy. The next filing to watch is the deed itself in New York City property records, which will confirm the exact unit and any financing attached to the trust’s purchase. For more on how Manhattan’s luxury resale market is moving, see the New York market hub.