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Bayport Funding Grants $3.6M Loan For Acquisition And Construction Of 8 Barnes Avenue, East Hampton

Property Image
FINANCED
$3,600,000

New York

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Single Family Residence6,000 SF
Financed 06/08/2023
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Property Image
FINANCED

Bayport Funding Grants $3.6M Loan For Acquisition And Construction Of 8 Barnes Avenue, East Hampton

8 Barnes Avenue East Hampton, New York 11937, USA

See Similar Deals
Single Family Residence6,000 SF
Financed 06/08/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Single Family Residence
Price Per Square Foot:$600
Total Square Footage:6,000 SF
Transaction Type:Loan

Bayport Funding, a direct portfolio lender, has granted a $3.6 million loan for the purchase and construction of 8 Barnes Avenue in East Hampton. The property, situated in Northwest Harbor on a one-acre plot, will be transformed into a 6,000-square-foot residential home with a pool and pool house.

Summary of transation details

  • Property Type: Single Family
  • Transaction Amount: $3,600,000
  • Market: East Hampton
  • Address: 8 Barnes Avenue
  • Asset Type: Single Family
  • Square Footage: 6,000

The loan for this acquisition and construction project was secured through Bayport Funding, with Marcia Kaufman serving as the lender's representative. Marcia Kaufman is associated with Bayport Funding.

Players

Marcia Kaufman
Bayport Funding
Marcia Kaufman
10 deals$34.1M volume
LENDER

Details

FINANCED
IMAGE: Marcia Kaufman DATE: 06/08/2023 ADDRESS: 8 Barnes Avenue MARKET: East Hampton ASSET TYPE: Single Family ~ SF: 6,000 LENDER: Bayport Funding - Marcia Kaufman LOAN AMOUNT: $3,600,000 LOAN TYPE: Acquisition and Construction NOTE: Bayport Funding, a direct portfolio lender, has granted a $3.6 million loan for the purchase and construction of 8 Barnes Avenue in East Hampton. The property, situated in Northwest Harbor on a one-acre plot, will be transformed into a 6,000-square-foot residential home with a pool and pool house.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,600,000.00

Monthly NOI$24,000.00
Monthly Debt Service$22,754.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00