Bayport Funding, a direct private bridge lender for real estate developers, has closed on a $4.06M construction loan for a ground-up townhouse condominium project in the prime Greenpoint neighborhood of Brooklyn, New York. Comprising three expansive residences ranging from 1,580 to 2,500 square feet, the three-story development features terraces, a patio, a rooftop deck, and basement storage.
“Brooklyn continues to see immense housing demand, particularly in popular neighborhoods like Greenpoint, and there is ample opportunity for experienced developers who understand the complex built environment there to bring high-quality products to market,” said Marcia Kaufman, CEO, Bayport Funding. “We’re proud to continue to support these developers with strategic capital solutions that deliver on the need for more housing.”
The centrally located development offers easy access to subway and bus transit, as well as the Brooklyn and Queens Expressway. It is walkable to the abundance of neighborhood amenities that make Greenpoint a global destination, such as shopping, schools, dining, entertainment venues, and parks.
For more information about Bayport Funding and its latest projects, visitwww.BayportFunding.com.
