2025 Year in Review: Donald Gelestino, Champion Elevator

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? The SL Green purchase of Park Ave. Tower was the clearest sign of where New York CRE is heading. Seeing a major investor step in with confidence showed the market has stabilized and that strong, well-located assets are leading the recovery. Quality buildings with real tenant demand are winning again, and this deal signaled that capital is ready to re-enter the market with conviction.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? For Champion, 2025 was defined by several major modernization milestones, but three projects truly stood out. Our work at 2 Wall St. and 125 West 46^th St. showcased our team’s ability to engineer complex, high-profile modernizations in some of New York’s most demanding environments. At the same time, our continued progress with NYCHA represented something equally meaningful delivering reliable, code-compliant vertical transportation to the communities that depend on it most. Together, these projects reflected our growth, our technical capability, and our commitment to serve NYC

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? In 2026, the biggest opportunities will come from the continued push toward modernization, stricter safety and code requirements, and the demand for more energy-efficient, reliable elevator systems. Building owners are moving away from patchwork repairs and investing in full modernizations to improve performance, reduce downtime, and meet new compliance standards. At the same time, public agencies and large portfolios are prioritizing long-term reliability, creating opportunities for firms that can deliver consistent quality, transparency, and speed.