News:
Spotlight Content
Posted: December 31, 2024
2024 Year in Review: Donald Gelestino, Champion Elevator
CEO / President
Champion Elevator
What noteworthy transactions or deals from this year best exemplified key market trends or shifts?
In 2024, Champion Elevator’s ability to close out major modernization projects as well as secure maintenance agreements with major clients, while simultaneously expanding our expertise in elevator and escalator testing, highlighted the industry's increasing demand for safety, efficiency, and sustainability. Notably, our collaboration with localized supply chains and innovation in fabricators have helped tremendously. These deals underscored a market shift toward comprehensive service providers capable of addressing both legacy and next-generation elevator technologies.What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024?
Champion Elevator’s milestone achievement was successfully servicing over 6,000 elevators monthly while delivering record-breaking Q1 and Q2 performance. Personally, I’m proud of spearheading partnerships with vendors and team mates. Additionally, leading Champion’s participation in impactful events, including the IEES 2024 kickoff, demonstrated our growing influence in the industry. These accomplishments are a testament to our team’s dedication and innovation.
What emerging trends will drive investment and development in 2025?
In 2025, the focus will be on integrating advanced elevator technologies, including IoT-enabled systems and AI-driven maintenance solutions, as safety and efficiency remain priorities. Supply chain localization and sustainability will drive investment, particularly as developers seek green solutions. Additionally, modernization projects will increase as clients look to upgrade aging infrastructure to meet compliance standards and enhance user experience. Champion Elevator is poised to lead in delivering these transformative solutions!!!
IREON Member Since: 201
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
.gif)