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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.”

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