Bayport Funding Provides $6M for Brooklyn Property
Bayport Funding has provided a $6.3 million bridge loan for a 16-unit multifamily structure situated in Bedford-Stuyvesant, Brooklyn.
Nestled on Franklin Avenue, this building spans approximately 11,500 square feet, offering a mix of studios and two-bedroom residences. It boasts an array of amenities like a roof terrace, private decks, in-unit washers and dryers, and a backyard.
“As one of the city’s premier boroughs, Brooklyn continues to see significant demand for housing that can be addressed through increased vertical construction,” said Marcia Kaufman, CEO of Bayport Funding. “By developers building multifamily projects such as these, they are providing reasonable rental options for both existing New Yorkers and newcomers to the city.”
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.