SPANDREL PROPERTY SERVICES PARTNERS WITH PAYLEASE

New Service Allows Residents To Make Payments Online

NEW YORK, NY – October 5, 2010 – Spandrel Property Services, a division of The

Spandrel Group, LLC, which provides property management, brokerage and soup-to-nuts

developer related services, has partnered with PayLease Inc., an online payment

processing company that streamlines the process of lease collection.

The new service, offered to buildings managed by Spandrel Property Services, will allow

residents to make maintenance and other payments online via credit/debit card or an echeck

from a checking or savings account through PayLease.

“We are living in a digital world and fleeting are the days that people have to write a

check, put it in the mail and hope that it would get in on time,” said Spandrel Founder

and President Ian Levine. “We are incorporating the latest in today’s technology to make

everything about owning or renting a home simpler and hassle free.”

With such luxury buildings under management including One Brooklyn Bridge Park and

Loft 25 in the Tri-state area, the new service offers even more extras, including the ability

to make automatic payments, the flexibility to choose when to make a withdrawal and the

opportunity to earn more rewards/points through your credit card.

“All of the buildings within our portfolio already offer an array of amenities, and this is a

great addition to our list,” added Levine. “This will not only streamline the process for

our residents, but will also internally make the process much smother.”

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