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TEI Group secures modernization of vertical transportation system at 1166 AOTA

TEI Group secures modernization of vertical transportation system at 1166 AOTA. TEI Group was contracted to modernize 28 elevators at 1166 AOTA. 1166 AOTA will be one of the largest generic destination based dispatching projects upon completion. The property is owned jointly by Minskoff Equities and Marsh & McLennan Companies. CBRE represented ownership and Citywide Elevator Consulting provided the technical specifications. President Mark Gregorio adds that the outstanding onsite preventative maintenance of our dedicated field technician Jeff Crosby was instrumental in securing this project.

The 1.6 million-square-foot, 44-floor, Class A office tower at 1166 Avenue of the Americas is one of the more prestigious buildings in Midtown, and a lot of that has to do with its tenant roster, which includes Bank of America, MetLife, American Express, Interpublic Group, JP Morgan Chase, Conde Nast, Morgan Stanley, Time Inc. and UBS.

The tower has quite the footprint, too, occupying the entire block front of Sixth Avenue from 45th to 46th streets (individual floors can run to more than 40,000 square feet). Skidmore Owings & Merrill designed it, and the predecessor to Tishman Speyer developed it; it was finished in 1974. The tower also goes by 1166 Sixth Avenue.

The ownership structure for 1166 Avenue of the Americas is a bit complicated. It is divided into three office condos, each hundreds of thousands of square feet. Owners with major stakes in the tower include RXR Realty, a privately held real estate investment firm; Edward J. Minskoff Equities; and Marsh & McLennan, a financial advisory firm.

Source: The Real Deal