Bayport Funding has provided a $4.7 million acquisition and construction loan for the development of two triplex townhomes in Manhattan’s Upper West Side. Located at 76 West 105th Street, the six-story property spans nearly 7,000 square feet and features an outdoor community garden as well as a roof deck with glass railings. Construction is expected to be completed by late 2023.
CEO Marcia Kaufman commented on the project: “Manhattan is the only New York borough to experience population growth following COVID-19, with roughly 30% more people compared to 2019 – particularly in its Upper West Side area which reflects this influx through appreciating fundamentals.”
This acquisition marks yet another successful investment from Bayport Funding that will contribute towards meeting increased demand within Manhattan’s real estate market due to recent population growth trends post pandemic.
