The gray colt, ridden by Puerto Rico's Jaime Torres, handled the muddy track at Pimlico in Baltimore perfectly to hold off Kentucky Derby winner Mystik Dan, denying the Kenny McPeek-trained colt the chance of becoming just the 14th horse to complete US flat racing's coveted Triple Crown.
Justify, in 2018, remains the last horse to complete the treble.
"It’s like the first one, it really is," said Lukas, who was showered with congratulations from longtime rivals and peers as he made his way toward the winner's circle with the help of a cane.
"It never gets old at this level," added Lukas, who saddled his first Preakness winner, Codex, 44 years ago. "I love the competition."
Lukas claimed a seventh Preakness victory -- tied for second-most for a trainer behind Bob Baffert's eight. It was Lukas's 15th Triple Crown race win overall.
It was an emotional win for Seize the Grey jockey Torres, riding in his first Triple crown race two years after realizing a dream by attending jockey school.
"Very thankful to all the people that have been beside me, helping me," he said. "My family. I want to thank them. Like a lot of people, a lot of jockeys, we came from the bottom. To afford flights and all those things to support me I know is hard.
"And they still do it because they love me. And I appreciate that a lot."
Seize the Grey broke smartly and headed straight to the front of the eight-horse field.
The Baffert-trained Imagination, ridden by Italian great Frankie Dettori, settled into second, and Mystik Dan, ridden by Brian Hernandez Jr. made a move between the two as they rounded for home in the 1 3/16th-mile race.
Lukas said he was confident his horse would hang on.
"I thought his action down the back side was beautiful and I know he was handling the track," Lukas said. "I said 'Watch out, he's not gonna quit."
Seize the Grey is owned by MyRacehorse, which sells "microshares" in racing thoroughbreds to the public. Some 2,570 people from across the United States own at least one share in the colt.
"Can you imagine how many people are gonna relish in this and enjoy it?" Lukas said. "I don’t even know how many people own this horse ... It'll really be something."
Michael Behrens, founder and chief executive of MyRacehorse -- and one of those shareholders -- was overjoyed.
"We had some big expectations, but this exceeds all those expectations," Behrens said.
"I really don't have words," Behrens said. "I can't believe this. This is the race I've wanted to win, this is the race I've wanted to win for 2,570 people. It's 100% ours."
This year's final Triple Crown race, the Belmont Stakes, will be run on June 8 at Saratoga because of renovations at Belmont Park.
