BridgeCity Capital Launches Note-on-Note Platform
By Andrew Coen November 25, 2025 11:43 am
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Nearly a decade after its launch, BridgeCity Capital is expanding its lending arsenal with a note-on-note platform, Commercial Observer has learned.
The bridge lender, which has been largely focused on loans in the New York City and South Florida markets, is looking to extend its national reach with note-on-note financing opportunities for other lenders.
“This gives us the appetite to go out and really take the dip into all 50 states,” said BridgeCity CEO Louis Lebovits. “This gives us that competitive nature and that competitive balance with banks we’re now competing with.”
The platform enables BridgeCity, which was founded in 2017, to be lower in the capital stack and will differentiate the lender from the private bridge lenders it competes with, said Lebovits. He added that the new leverage product will also provide a competitive edge over banks since it can close deals in more expedited frames without regulatory hurdles.
BridgeCity rolled out the new note-on-note offering at a time of increased demand for bridge debt, according to Lebovits, with the lender often filling the void from banks that have more obstacles and executing loans in a 30-day time frame when needed. A $45 million construction loan from BridgeCity Capital in August for Century Development Group’s 66-unit condominium project at 45-28 21st Street and 46-21 21st Street in Long Island City closed in 17 days from the term sheet process, CO first reported at the time.
Brooklyn-based BridgeCity is on track to close more than $1 billion of lending volume this year and is nearing the $5 billion origination mark since its inception in 2017.
“We’re seeing a major, major shift in terms of overall demand toward bridge debt, especially on the construction side,” Lebovits said. “A lot of old timers that were accustomed to going strictly bank financing now, with bridge opportunities, instead will come with less cash to the table and increase our return levels from an internal rate of return basis.”
Andrew Coen can be reached at acoen@commercialobserver.com.
