News: Brokerage

American Elevator Group promote Spinelli and Hoover

Gregg Spinelli

 

Michael Hoover

 

Eric Lazear

 

Bronx, NY According to Bryan Clairmont, president of American Elevator Group, two promotions have been completed, including that of Gregg Spinelli to the position of president of Bronx-based Eltech Elevator. 

Spinelli transfers to Eltech from Unitec Elevator, where he served as vice president of Operations. He succeeds Michael Hoover, who in addition to his previous role as president of American Elevator & Machine Corporation, accepted the additional responsibility for leading Eltech after the founders of the business retired at the end of 2021. 

Hoover joins AEG’s Corporate team as senior vice president of Business Development, reporting to recently promoted chief revenue officer Eric Lazear. Hoover will be tasked with accelerating AEG’s portfolio growth objectives, with a particular focus on strategic accounts. 

In accepting his new appointment, Hoover said, “I am delighted that Gregg will be driving Eltech’s success from this point. Eltech is a significant player in the New York independent service sector, and Gregg’s energy and determination will continue to improve their deserved reputation for quality of service. I look forward to supporting Gregg’s ambitions, and those of AEG’s other elevator companies, as I work to introduce new opportunities from our corporate center.” 

Clairmont said, “We are so fortunate to have this breadth of experienced leadership to draw from to drive our business. The promotions of Gregg, Michael and Eric to their new positions will continue to support our declared intent to deliver the highest service standard to our customers.”
 

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,