According to the latest coverage from the Commercial Observer, Brooklyn-based developer Elmord Management has secured $72.3 million in acquisition and construction financing to construct a brand-new multifamily development in the premier Hunters Point neighborhood of Long Island City (LIC), Queens . The transaction was originated by prominent real estate lender BridgeCity Capital, providing critical capital for the planned 161-unit mixed-use project at 44-68 Vernon Boulevard

According to the latest reports from the New York Business Journal, prominent developer CW Realty, led by Cheskie Weisz, has finalized a $9.7 million, 99-year ground lease for the prime development site located at 21-02 44th Drive in Long Island City’s Court Square neighborhood . The parcel spans 48,240 square feet and is projected to come online by 2028 . Long Island City (LIC) continues to solidify its status as New York City's fastest-growing residential hub. CW Realty's s