"This new title more accurately reflects the significance of his contribution," said H. Dale Hemmerdinger, owner of the firm's parent company The Hemmerdinger Corp. "In fact, Peter has been performing the duties and responsibilities of COO for many years now."

DiCapua, who has an equity position in the firm through a partnership of Atco's buildings, is now charged with overseeing the operation, management and construction of the company's owned and managed properties. Atco's portfolio ranges from high-rise office and multifamily towers to one-story industrial structures. He will also work to reposition and enhance the value of these assets.

In addition to his role at Atco, DiCapua serves on the board of governors for both the Real Estate Board of New York, and the Associated Builders and Owners of Greater New York. He is also the long-time president of the Owners Committee on Electric Rates Inc.