BROOKLYN, NY – Bayport Funding, a direct private bridge lender for real estate developers, has closed a $1.16 million acquisition and construction loan for a two-family property on Greene Avenue in Brooklyn. This 2,400 square-foot property is centrally located in the Bushwick submarket, which continues to see strong demand in the rental market.
Bushwick’s real estate market remains particularly desirable due to its status as a major New York creative and cultural hub, abundance of dining, bars, and entertainment establishments, and multiple public transportation options. These factors, in addition to competitive rental rates relative to other popular Brooklyn neighborhoods, have been instrumental in attracting rental consumers.
“Overall, Brooklyn’s enduring popularity stems from its combination of world-famous lifestyle offerings and ease of commuting into Manhattan,” said Marcia Kaufman, CEO, Bayport Funding. “Bushwick in particular is a neighborhood with wide appeal, from families to young professionals and creatives. Bayport is proud to support projects throughout the neighborhood, including this latest property on Greene Avenue, and looks forward to continuing to serve Brooklyn’s financing needs throughout 2025 and beyond.”
Greene Ave is ideally positioned within Brooklyn, with ample green spaces and a thriving local economy. The property itself is also within walking distance of Maria Hernandez Park, Wyckoff Heights Medical Center, and several K-12 schools. The nearby retail and culinary offerings provide residents with easy access to both urban conveniences and natural beauty in a prime location.
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.wpenginepowered.com
