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…
The NYC-based firms will remain separate entities but will collaborate to find the best solutions in multifamily technology, reporting and management. Canvas Property Group, an entrepreneurial, tech-focused property and asset management company specializing in multifamily real estate in the Northeast with a focus on New York City, today announced that it has entered a partnership…
Always accept feedback. Allow for a transition period but also take into account what is working and what is not. This understanding of how one process may not be what is best will allow for your company to gain greater insight into what can be fundamental and what is only a distraction. While digital transformation…
Utilizing technology, we’ve changed the entire way we operate multifamily real estate, and therefore how our investors and clients interact with the reporting we produce. We have spent the last 18 months designing software that allows a look into the performance of multifamily real estate that helps everyone on the deal team from portfolio to…
Expect battles over real estate taxes, an influx of younger renters and bulk buyers Housing markets in other parts of the country have been seeing record high prices and an increase in demand in 2020 — but not so in New York City, where the residential market has taken a beating from the pandemic. Rents…