What Precision Elevator does

Precision Elevator Corp. is a Brooklyn, New York-based independent elevator services contractor founded in 1992 that provides elevator maintenance, repair, modernization, installation, and testing/inspection services to commercial and residential customers across the New York City metropolitan area. The company operates under the American Elevator Group (AEG) umbrella — having joined in 2021 and completed the August 2022 acquisition of Consolidated Elevator — and fields a staff of more than 90 OSHA-certified technicians, several holding nationally recognized Qualified Elevator Inspector (QEI) licenses from NAESA. Its core technical position is a non-proprietary equipment model that enables it to service any elevator brand across hydraulic, traction, and machine room-less (MRL) systems, with cloud-based remote monitoring enabled through partner Claddagh Electronics Ltd. and full compliance to ASME 17.1 safety code and ADA accessibility standards.

The company generates revenue across five integrated streams: recurring maintenance contracts, project-based new installations, 24/7 emergency repairs, modernization upgrades, and city/state-approved testing and inspection. Pricing is quote-based with free estimates for all projects, and the go-to-market is sales-led — anchored on 24/7 phone availability (718-782-7800), website inquiries, and partner referrals from property managers, construction companies, consulting firms, and developers. The customer base spans commercial office buildings, residential multi-family properties, construction/development projects, and government/transit infrastructure, with marquee project work including the ADA-compliant elevator installation at New York Penn Station's 7th Avenue and 32nd Street entrance (completed November 2023 in a public-private partnership with Amtrak and Vornado Realty Trust).

The operating footprint is concentrated in NYC/Brooklyn with licensing by the NYC Department of Buildings, ASME 17.1 and ADA certifications, NAEC/NAESA affiliations, and a small set of technology and equipment supplier relationships (Canton Elevator, MCE, GAL, A&D Entrances, KONE). The company is privately held as a subsidiary of AEG, with no venture or private equity funding rounds disclosed and no public revenue figures available.

Name

Precision Elevator

Legal name

Precision Elevator Corp.

Website

https://precisionel.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

Precision Elevator Corp. is a Brooklyn-based elevator services contractor founded in 1992, providing maintenance, repair, modernization, installation, and inspection for commercial and residential buildings across the New York City metropolitan area.

Ownership category

akta.pro rank

Product category

Elevator Services

NAICS

Elevator and Moving Stairway Manufacturing (333921)

akta.pro primary industry

Elevator Modernization & Retrofit (Controllers, Drives, Door Systems) (BPABAIAE)

akta.pro secondary industries

Elevator Remote Monitoring & Predictive Maintenance (IoT/Connected Elevators) (BPABAIAH), Accessibility & Platform Lift Service (Wheelchair/Vertical Platform Lifts) (BPABAIAI), Traction/Machine-Room-Less (MRL) Elevator Service & Maintenance (BPABAIAL), Elevator Repair & Emergency Callout Services (BPABAIAG), Elevator, Escalator & Lift Maintenance (IMAIABAF), Elevator, Escalator & Vertical Transportation Installation/Service (IMAFALAI)

Keywords

• Elevator maintenance services
• Elevator repair services
• Elevator modernization
• Elevator installation
• Elevator inspection

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Elevator Maintenance Contracts: Ongoing maintenance services for elevator systems including preventive maintenance, inspections, and repairs. Professional supervised staff available 24/7 for service needs.
2. New Installation Services: Custom elevator installations for new construction and renovation projects for commercial and residential applications. Free estimates provided for all projects.
3. Repair Services: Skilled repair services for malfunctioning elevators, addressing issues from new installations and modernization projects. 24/7 availability for emergency repairs.
4. Modernization Services: Upgrading existing elevator systems including fixtures, controls, mechanical and hydraulic systems to improve safety, rideability, and reduce energy costs.
5. Testing and Inspection: City and state-approved elevator inspections with licensed inspectors working with third-party inspection providers to ensure compliance and safety.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Precision Elevator provides comprehensive elevator lifecycle services including construction (new installations), maintenance, modernization, repair, and testing/inspection for commercial and residential buildings. The company serves as a non-proprietary elevator contractor capable of servicing any brand of elevator with 24/7/365 emergency availability and a staff of 90+ OSHA-certified professionals in the New York City and Brooklyn market.

Product overview

Precision Elevator is a service-oriented elevator company offering a unified portfolio of elevator solutions. The core offerings consist of six integrated service areas: Construction (new elevator installations for construction projects), Installation (professional custom elevator installations), Maintenance (preventive maintenance programs), Modernization (equipment upgrades and system updates), Repair (24/7 repair services), and Testing & Inspection (certified inspections). These services collectively cover the full elevator lifecycle from new construction through ongoing maintenance and modernization. The company operates as a single unified service brand, serving both commercial and residential applications across New York City and Brooklyn, with the ability to work with all elevator manufacturers and non-proprietary equipment.

Differentiator

Problem solved

Functional benefit

Products and services

• Elevator Construction Custom elevator installations for new construction projects, serving both commercial and residential applications. Free estimates provided for all projects.

Quantifiable outcome

• 30+ years of continuous operation and top independent contractor status
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core, flagship and minor.

• AmtrakcoreImplementation/ SI/ Consulting Partner · 19 November 2023Precision Elevator installed an ADA-compliant elevator at New York Penn Station's busiest entrance at 7th Avenue and 32nd Street as part of a public-private partnership between Amtrak and Vornado Realty Trust. The project was part of a four-year renovation completed before the 2023 U.S. Thanksgiving holiday.
• Vornado Realty TrustcoreStrategic or Co-development Partner · 1 January 2023Partnered with Vornado Realty Trust on the Penn Station entrance transformation project, a public-private partnership focused on modernizing the station's accessibility and vertical transportation infrastructure.
• American Elevator Group (AEG)flagshipStrategic or Co-development Partner · 1 August 2022In August 2022, Precision Elevator became part of American Elevator Group (AEG), an elevator company. This partnership provides resources to support new service capabilities and strong future growth while maintaining the company's brand identity and commitment to customer service.
• KONEminorStrategic or Co-development PartnerKONE installed three new state-of-the-art escalators while Precision Elevator installed the ADA-compliant elevator for the Penn Station project. Both companies worked alongside multiple subcontractors on the accelerated schedule.
• National Association of Elevator Contractors (NAEC)minorOthersPrecision Elevator works directly with NAEC to promote and develop educational programs for elevator industry professionals.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• KONE: Global elevator OEM that installed escalators alongside Precision's elevator at Penn Station; competes for new construction and modernization projects throughout NYC.
• TK Elevator (ThyssenKrupp): Major elevator OEM with active NYC commercial and residential service portfolio; competes across the same maintenance, modernization, and installation services Precision offers.
• Schindler Group: Major global elevator OEM with significant NYC presence; directly competes with Precision on installation, modernization, and service contracts in commercial and transit properties.
• Mitsubishi Electric (Elevator/Escalator Division): Global elevator OEM serving NYC high-rise and commercial markets; competes on installation and service contracts, particularly where proprietary equipment creates switching costs.
• Otis Worldwide: Global elevator OEM and largest service provider; competes with Precision across NYC installation, maintenance, and modernization, particularly on OEM-installed equipment where switching costs favor Otis.

Regional players

• Metro Elevator Co. Regional independent elevator service provider in the NYC metro area; competes with Precision on similar maintenance, modernization, and emergency repair work for mid-sized commercial and residential buildings.
• Quality Elevator Company: Regional independent elevator contractor in the NYC/NJ area; provides directly comparable maintenance, repair, and modernization services to similar customer segments.

Others

• American Elevator Group (AEG): Parent conglomerate and strategic partner of Precision Elevator; provides shared resources, capital, and acquisition pipeline. Sister companies within AEG offer comparable elevator service offerings in other geographies, making them internal peers for benchmarking.

Direct peers

• Allied Elevator Inc. Independent NYC-area elevator service contractor offering maintenance, repair, and modernization; directly competes with Precision for the same property management and building owner customers in the metro area.
• Nationwide Elevator: Independent elevator contractor offering a comparable full-service portfolio (installation, maintenance, modernization, repair, inspection); operates in the Northeast and competes with Precision on regional contracts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/precision-elevator-corp

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Precision Elevator