Bayport Funding, a direct portfolio lender, has provided a $3.6 million loan for the acquisition and construction of 8 Barnes Avenue in East Hampton’s Northwest Harbor. Spanning over one acre, the property will be developed into a 6,000-square-foot for-sale home with pool and pool house.
Marcia Kaufman, CEO of Bayport Funding commented on the competitive housing market in East Hampton: “Investors are eager to stake or add to their footprint in this area due to its high volume of vacation and rental activity.”
