Peter Siegel ’86: The Power of Relationships

“For many decades, we were told in school, in jobs, and in lots of different parts of society, to be an expert, to be the best at one thing, and to excel at one thing,” Peter explained. “I really disagree with that. I think we need to be extremely good at a lot of different things because the world requires that of us.”

Business owner and founder of Siegel Capital, Peter Siegel ’86 shows that anyone can be an entrepreneur with the right mindset and focus on building relationships.

From an early age, Peter was close to the George School community through two of his older brothers, Hank Siegel ’76 and Jeff Siegel ’79. He grew up in nearby Yardley, PA, and would attend George School assemblies, graduations, and concerts, so when it was time for him to be a student himself, he already felt at home.

“When I got to George School, some of my brother’s classmates were then teachers, including Bruce DiMicco ’75 and Carter Sio ’76, and I’m still very close with these people today,” Peter shared.

Before becoming a successful business leader, Peter remembers being an average student who, like many high school students, did not know exactly what he wanted to do as a career.

“I think I succeeded in other areas of the George School experience, but my academics were average,” Peter recalled. “At the time, I didn’t really understand why I would say to someone ‘I want to be an entrepreneur’ because back then it wasn’t something that you aspired to be.”

While entrepreneurship is embraced today, the career had a different connotation when Peter was in high school. “When I was a kid, the word ‘entrepreneur’ was a bit of a dirty word,” he explained. “It meant that you were unemployable or undesirable.”

The common trajectory for students was to attend college and graduate school in trusted fields after high school to become as employable as possible. Peter found himself naturally breaking that mold based on his strengths and interests.

“I realized that it wasn’t just one thing that I found interesting, and it wasn’t just one thing that was the probable path for me,” said Peter. “I had to have limitless options. And limitless options are what entrepreneurs chase.”

Peter received his MBA in Real Estate, Finance, and Economics at American University in Washington, D.C. Shortly after, he moved to New York City and found himself quickly involved in his first business venture.

“My first business out of college was a multi-unit food restaurant company in New York,” shared Peter. His first apartment was on the same street as a successful soup shop. “I would stand outside with hundreds of other people in February with whipping winds, snow, and rain to pay 15 or 20 bucks for soup. It sounds crazy—but it was so good!”

Throughout the years, Peter became friendly with the shop’s owner, who was content with his solo location for the restaurant. Knowing the value of the business, Peter had ideas to expand it to new locations. While the owner was not interested, Peter politely asked, “OK, do you mind if I do?” The shop owner replied, “knock yourself out.”

At the age of 22, Peter emptied his savings account to open a new and successful location of the beloved soup restaurant on a vacant storefront on East 41st Street by the New York Public Library. He went on to open over 25 locations across New York, Philadelphia, Boston, and D.C.

After the success of his first business, he parlayed his experience in sourcing restaurant space into investment real estate. Now, Peter runs Siegel Capital, a company that owns real estate, businesses, and investments across a broad spectrum of industries throughout the country from residential multi-family apartment buildings and cannabis-related properties to construction and construction trades.

Throughout his career, Peter relied on his network of relationships for mentorship and support along the way. “I always encourage people to seek out those who are older, wiser, and more successful, and be around them as much as possible,” remarked Peter.

“There is a lot to be gained by having great people skills. Be a great listener, a great speaker, and have great eye contact. It is so important to build relationships, which we need for everything in life, not just for entrepreneurship and business.”

Peter is closely connected to the George School Class of 1986 and even hosted everyone at his farm in New Hope, PA for a weekend of “glamping” for their 36th reunion in 2022. He looks back on happy moments at George School like being a part of Dusty Miller’s golf team, playing in a rock band at assemblies, and singing at graduation with friend Joe Rogers ’86.

“Forming relationships is the most powerful thing we can do as people, whether you want to be an entrepreneur or not,” said Peter. “You can’t do anything alone, you need people. My relationships with my people at George School are among the longest lasting and enduring in my life.”