Canvas Investment Partners and Tokyu Land US have closed on the $112.8-million acquisition of 436 Albee Square, a 150-unit multifamily property located in Downtown Brooklyn. The seller was Spencer Equity, Less than a month ago, the partnership between Canvas and Toyku Land US purchased 210-220 E. 22nd St. in Manhattan for $104.5 million from PGIM…
Canvas Investment Partners and Tokyu Land US buy 436 Albee Square Robert Morgenstern shelled out $113 million for a big rental tower in Downtown Brooklyn — his second nine-figure deal in the past few weeks. Morgenstern’s Canvas Investment Partners and partner Tokyu Land US paid $112.8 million for the 150-unit Azure tower at 436 Albee…
Canvas Property Group is taking over The Azure, a luxury residential tower in Downtown Brooklyn. The property management company bought the 28-story, 150-unit building at 436 Albee Square West in a joint venture with Tokyu Land U.S. from Spencer Equity Group for $112.8 million, according to broker Rosewood Realty Group. The transaction closed at a…
The partnership between Canvas and Toyku Land US has been active in Manhattan recently as well. Canvas Investment Partners and Tokyu Land US have acquired 436 Albee Square, a 150-unit mixed-use high-rise in Brooklyn, for $112.8 million. The property, also known as The Azure, was sold by Spencer Equity Group. The 28-story property on 3.6…
Robert Morgenstern’s Canvas Property Group sold four properties in Chelsea for $23 million. PincusCo reported the buyer is a collection of wealthy individuals. Meadow Partners, which held a stake in the buildings prior to this transaction, will retain an ownership stake. The four buildings combine for 21,000 square feet, 17 residential units, three commercial units…
Relationships are key. I can’t stress this enough. Success in real estate boils down to unrelenting hard work and strong, lasting relationships. Having founded multiple successful companies in the multifamily business over the years, I am still continuing to invest with the same equity partners that I worked with on my very first deals. Repeat capital…
Apollo Global Management co-founder Josh Harris is teaming up with multifamily investor Robert Morgenstern to buy more than $1 billion worth of apartments. The private equity titan’s family firm, HRS Management, joined Morgenstern and his partner at their Canvas Property Group, Al Tylis, to launch a new investment vehicle targeting multifamily buildings in New York…
Canvas Property Group, an entrepreneurial, tech-focused property, construction and asset management firm specializing in New York City multifamily real estate, recently announced that INSTRATA Brooklyn Heights and INSTRATA Park Slope are officially 100 percent leased. The two full-service luxury buildings have seen steady demand and generate rents above pre-pandemic rates. INSTRATA Brooklyn Heights, at 75…
Robert Morgenstern wears many hats. He is the founder and strategic leader of Canvas Property Group, a property, construction and asset management firm with a portfolio of 40 mixed-use properties in New York City plus third-party management assignments. He is also the managing principal of Morgenstern Capital, where he leads multifamily acquisitions and operations. Since…
New York City’s real estate market boomeranged in the second half of 2021: Renters and buyers returned to the city and snapped up apartments. Thanks to that burst of demand, Covid discounts and concessions nearly evaporated as owners and sellers gained the upper hand. Now that Omicron infections are skyrocketing, it feels like New Yorkers…