Bayport Funding, a direct private bridge lender for real estate developers, has closed a $2.87M construction loan to fund the acquisition and construction of an 8-unit multifamily development in the Crown Heights neighborhood of Brooklyn, New York. These market rate apartments, within close proximity to multiple subway lines, are designed to meet ever-growing demand for high-quality transit oriented housing in Brooklyn.
“Brooklyn’s enduring draw continues to stem from its unmatched lifestyle offerings paired with easy access to public transportation and Manhattan’s rich job market,” said Marcia Kaufman, CEO, Bayport Funding. “Delivering an eight unit multifamily housing in this location helps to meet the demand for denser housing, and Bayport remains committed to supporting developers in this strong rental market.”
Situated near vibrant retail, acclaimed dining, and abundant parking spaces, the property will offer residents an exciting balance of convenience, culture, and comfort.
For more information about Bayport Funding and its latest projects, visitwww.BayportFunding.com.
