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.”
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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Read MoreConnect CREBayport 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 …
The post Bayport Funding Provides $6M for Brooklyn Property appeared first on Connect CRE.