<p>This work presents a novel system for placing insulation panels on building facades. The system consists of a cable-driven lifting and leveling manipulator suspended from a crane, to which insulation panels can be attached and guided to the desired placement position. Users can then perform fine planar displacement and leveling tasks compared to those of conventional methods. The system under study is a planar underactuated cable-driven parallel manipulator composed of two cables and a moving platform. Actuators are passively linked, and the control unit is embedded on the moving platform, unlike in classic cable-driven parallel robots. This architecture minimizes the complexity of anchor points, enabling rapid deployment and simple reconfigurability at the worksite. This paper develops a comprehensive mathematical model for the underconstrained cable-driven parallel manipulator being studied. It defines the manipulator geometry and formally states both the direct and inverse geometrico-static problems. The corresponding equations are derived using loop-closure equations and free-body diagrams. The paper provides representations for each problem. It also formalizes the static-feasible workspace and derives stability conditions. Finally, the theoretical results are validated by comparing them with measurements taken from a real-scale demonstrator.</p>