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.”