Canvas, a vertically integrated real estate investment and services firm, recently announced the launch of Canvas Leasing, its newly created in-house leasing division. The addition of this vertical is Canvas’ entry into the residential leasing sector, enabling the multidimensional owner, operator and investor to provide additional complementary services to its robust roster of investors and clients with over $1.3B of managed AUM throughout New York City.
Canvas Leasing will initialize its leasing mandates at two premier New York City properties; 11 Greene and 60 Duffield. Located in Manhattan’s Downtown SoHo neighborhood, known for its historic properties and luxury shopping, 11 Greene comprises 31 expansive one and two bedroom loft-style homes, with a spectacular three bedroom penthouse. Expanding Canvas’ leasing efforts across the river in Downtown Brooklyn, 60 Duffield boasts the design and style of a boutique hotel, with 64 spacious, open layouts and top-of-the-line condo-level finishes.
“We saw a real value-add opportunity for Canvas in expanding into the leasing sector,” says Robert Morgenstern, founder and CEO of Canvas. “With the synergies and intelligence from our internally developed proptech service, Juliet, we generate proprietary data to maximize revenue, increase retention and reduce vacancy. Our 360-degree residential suite of services, which now includes leasing, differentiates Canvas within the industry and directly benefits our clients.”
To co-lead Canvas’s new initiative with the Daniel Cooper, the current Director of Leasing, and to spearhead efforts at 11 Greene and 60 Duffield, Canvas recently hired industry veteran Molly Spears as Co-Director of Leasing. Drawing upon a decade of leasing, property management, and residential rental experience, Spears most recently successfully served at Stonehenge NYC.
The addition of Canvas Leasing under the Canvas umbrella further builds upon the company’s broad range of services and expertise, which includes institutional investment, property, construction and asset management and customized financial reporting solutions. Canvas’ internally developed proptech solution, Juliet, allows the organization to better utilize its significant access to data and to better serve its robust multifamily clientele and management portfolio. To best support Canvas Leasing, Canvas and Juliet are able to produce real-time reports as well as a unique rental algorithm. These tools will enable Canvas Leasing agents to gain market insight and optimize rental strategies specific to each property with the goal of maximizing revenue and retention.
“Canvas has carved an incredible niche within the City’s residential market by developing an expertise across a range of services and businesses,” says Molly Spears, co-director of leasing at Canvas Leasing. “This wealth of knowledge paired with the company’s continued investment in relevant technology to better support its team, including leasing agents, is a true asset in today’s competitive market. I couldn’t be more excited to drive this division’s growth and success.”
For more information regarding Canvas Leasing please visit canvaspg.com or email leasing@canvaspg.com.
