SAG HARBOR, NY - Bayport Funding, a leading direct portfolio lender for real estate investors, has provided a $3.7 million acquisition and construction loan for a single-family home in Sag Harbor, New York. Located on Millstone Road, this property is located in one of the Hamptons’ most desirable neighborhoods and will include an in-ground pool with pool-house, tennis court and state of the art fitness and entertainment room on the lower level.
The property is situated on a 1.8-acre plot of land within proximity of three popular beaches as well as several world-class restaurants, shops, and art galleries. The area is home to some of the Hamptons’ most prominent homes, located in a tranquil coastal landscape offering a serene retreat from the bustle of city life. These aspects make the property and its surrounding landscape a popular destination for visitors and homebuyers alike.
“This property is situated in a prime location and holds great value-add potential once renovations have been executed,” said Marcia Kaufman, CEO, Bayport Funding. “We’re confident that our borrower will be able to transform this home into a truly exceptional Hamptons residence as more properties continue to be delivered throughout New York.”
This transaction represents a significant milestone in continuing to enhance Sag Harbor’s existing natural beauty and vibrancy, both of which have led to the neighborhood becoming a beloved destination for visitors and new residents alike. In facilitating this project, Bayport Funding continues to contribute to the preservation of the area’s unique character while fostering its continued growth. To learn more about Bayport and its activities, visit www.bayportfunding.com
About Bayport Funding: Bayport Funding is a balance sheet lender that provides bridge financing to real estate investors for single family, multifamily, mixed-use, and ground-up construction projects. Bayport has originated more than $1.3 billion. The firm is dedicated to the real estate investor community that depends on immediate availability of capital for funding projects. Bayport Funding understands the real estate investor business model and will tailor a customized Smart Money Loan Program to meet each lender’s specific needs. Bayport Funding offers several types of loan structures for investors who fix and flip properties, an opportunity to achieve significant return on investments and revitalize communities. For more about Bayport Funding, please visit: www.bayportfunding.com