New York & Tri-State + Outer + Finance | August 16, 2023

Bayport Funding Provides $3M for Brooklyn Single-Family Conversion

Bayport Funding has provided a $3.35 million acquisition and construction loan for the conversion of a multifamily brownstone into a single-family residence in Boerum Hill, Brooklyn.

The historic three-story property, built in 1899, will undergo restoration and transformation into a single-family home with four bedrooms and three bathrooms.

“Brooklyn’s multifamily market is performing well by the numbers year-over-year, which is aligned with the consistent demand that Bayport has seen throughout our continued activity in the area,” said Marcia Kaufman, CEO, Bayport Funding.

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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