Bayport Funding, a leading direct portfolio lender for real estate investors, has provided a $3.6 million loan for the acquisition and ground-up construction of 8 Barnes Avenue in East Hampton. The Northwest Harbor property lot encompasses more than one acre and will allow for the creation of an approximately 6,000-square-foot home with pool and pool house.
“The East Hampton housing market remains incredibly competitive,” said Marcia Kaufman, CEO, Bayport Funding. “Investors are eager to stake or add to their footprint in the area due to the high volume of vacation and rental activity.”
East Hampton remains a highly coveted location for short and long-term renters, and 8 Barnes Avenue will offer a modern design and the privacy that Northwest Harbor homes, set in the woods, are known for among local owners.
“This newly acquired property in a rapidly emerging locale presented a compelling opportunity for us,” expressed Hezi Mena, Managing Partner of DeUna Holdings. “Recognizing the significance of this potential, we sought agile financing, and Bayport delivered with impressive efficiency. Their unwavering support has empowered DeUna Holdings to confidently advance our plans to create an exceptional residential experience in this thriving market.”
