The strip steak is a cut of beefsteaks from the short loin. It consists of a muscle that does little work, making the meat particularly tender, though not as tender as the nearby rib eye or tenderloin. Fat content of the strip is somewhere between the two cuts. Unlike the tenderloin, the short loin is a sizable muscle, allowing it to be cut into the larger portions.
According to the National Cattlemen's Beef Association, the steak is marketed under various names, including Ambassador Steak, Boneless Club Steak, Hotel-Style Steak, Kansas City Steak, New York Steak, and Veiny Steak.
In Australia it is known as a porterhouse steak or sirloin steak. 
When still attached to the bone, and with a piece of the tenderloin also included, the strip steak becomes a T-bone steak or a porterhouse steak, the difference being that the Porterhouse has a larger portion of tenderloin included. The strip steak may be sold with or without the bone. Strip steaks may be substituted for most recipes calling for T-bone and porterhouse steaks, and sometimes for fillet and rib eye steaks.