Sag Harbor, NY Bayport Funding provided a $3.7 million acquisition and construction loan for a single-family home located on Millstone Rd. This property is located in a neighborhood and will include an in-ground pool with pool-house, tennis court and fitness and entertainment room on the lower level.
The property is situated on a 1.8-acre plot within proximity of three beaches as well as several restaurants, shops, and art galleries. The area is home to some of the Hamptons’ most prominent homes, located in a coastal landscape offering a retreat from city life. These aspects make the property and its surrounding landscape a destination for visitors and homebuyers alike.
“This property is situated in a prime location and holds great value-add potential once renovations have been executed,” said Marcia Kaufman, CEO, Bayport Funding. “We’re confident that our borrower will be able to transform this home into a truly exceptional Hamptons residence as more properties continue to be delivered throughout New York.”
This transaction represents a significant milestone in continuing to enhance Sag Harbor’s existing natural beauty and vibrancy, both of which have led to the neighborhood becoming a beloved destination for visitors and new residents alike. In facilitating this project, Bayport Funding continues to contribute to the preservation of the area’s unique character while fostering its continued growth.
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