Bayport Funding, a direct portfolio lender for real estate investors, has provided a $4.95 million acquisition loan for a Williamsburg site in Brooklyn. Located on Metropolitan Avenue, the property consists of two existing mixed-use buildings that will be converted into four-story residential rental buildings with ground-floor retail spaces.
Marcia Kaufman, CEO of Bayport Funding commented on the investment opportunity: “Williamsburg has been an incredibly popular market for more than two decades and continues to drive Brooklyn’s real estate growth even during the pandemic. This property presents an excellent high-growth investment opportunity as people move back to this borough.”
