---
title: "BridgeCity Lends $72M on Long Island City Apartments Build"
url: https://burnaze.com/article/2bf464a0-5f98-4bcd-9847-c89dbddc2ba7
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/06/bridgecity-long-island-city-queens-apartments/
author: "Andrew Coen"
category: "Real Estate"
published: 2026-06-30T19:08:20.000Z
modified: 2026-10-31T13:17:08.877Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/06/Louis-Lebovits-44-68-Vernon-Blvd-LIC-rendering-credit-BridgeCity-Capital.jpg?quality=80&resize=1200%2C630&strip=
---

# BridgeCity Lends $72M on Long Island City Apartments Build

**TL;DR:** Elmord Management has secured $72.3 million in acquisition and construction financing for a new multifamily development in Long Island City, Queens. The loan was originated by BridgeCity Capital for the developer's planned 161-unit project at 44-68 Vernon Boulevard.

*By Andrew Coen, originally published in Commercial Observer on 2026-06-30. [Read the original](https://commercialobserver.com/2026/06/bridgecity-long-island-city-queens-apartments/).*

## Story

Brooklyn-based developer **Elmord Management** has landed $72.3 million of acquisition and construction financing to build a multifamily development at a former industrial site in Long Island City, Queens, Commercial Observer has learned.

**BridgeCity Capital** originated the loan for the developer’s planned 161-unit project at **44-68 Vernon Boulevard** in Hunters Point. Elmord acquired the property for $28 million from an undisclosed seller, according to BridgeCity. A warehouse-style structure built in 1953 is currently on the site.

“This transaction is another example of our ability to structure and execute complex financing solutions efficiently, while continuing to support high-quality development projects across New York City,” **EJ Ehrlich**, director of originations for Brooklyn-based BridgeCity, said in a statement.

The 44-68 Vernon property is steps from a warehouse property that was formerly planned as **Amazon**’s New York City headquarter before the e-commerce giant pulled out of the project in 2019. Elmford plans a 16-story, 142,697-square-foot apartment building that also includes commercial space.

## Entities

- Amazon (company)
- Real Estate (sector)
- real estate (topic)
- Commercial Observer (publication)
- Andrew Coen (person)
- acquisition financing (topic)
- BridgeCity Capital (investor)
- multifamily development (topic)
- EJ Ehrlich (person)
- construction financing (topic)
- Elmord Management (company)
- 44-68 Vernon Boulevard (location)

---
Originally reported by Andrew Coen, Commercial Observer (https://commercialobserver.com/2026/06/bridgecity-long-island-city-queens-apartments/). Summarized by Burnaze (https://burnaze.com/article/2bf464a0-5f98-4bcd-9847-c89dbddc2ba7).