Clipper Realty (CLPR) Company Report

Clipper Realty Inc.'s subsidiary, 141 Livingston Owner LLC, entered into a Loan Modification Agreement on December 24, 2025, effective December 30, 2025, with Wells Fargo Bank to settle ongoing litigation related to a $100 million commercial mortgage loan.
As part of the agreement, the Borrower provided a $10 million renewal tenant reserve account letter of credit and paid approximately $2.2 million in fees to the special servicer and Lender's counsel.
The Lender waived claimed late charges and default interest and agreed to dismiss pending foreclosure actions with prejudice.
The agreement also included the approval of a five-year lease extension for the 141 Livingston Street property with its New York City tenant, effective December 28, 2025.
The $100 million loan has a fixed interest rate of 3.21% per annum and a stated maturity date of March 6, 2031.

Jan 2, 2026, 9:01 PM

Clipper Realty Inc. Receives Default Notice on $125 Million Loan and Anticipates Settlement on Another $100 Million Loan

CLPR

Debt Issuance

Legal Proceedings

Clipper Realty Inc.'s subsidiary, 250 Livingston Owner LLC, received a default notice on December 18, 2025, for its $125.0 million loan secured by the 250 Livingston Street property, with approximately $3.4 million owed in interest and default interest as of December 22, 2025.
The company is currently negotiating a Consent and Cooperation Agreement with the lender for the sale of the 250 Livingston Street property following the loan default.
Separately, Clipper Realty Inc.'s subsidiary, 141 Livingston Owner LLC, anticipates reaching an agreement to settle ongoing litigation regarding $100 million mortgage notes on its 141 Livingston Street property. This potential agreement could involve the company providing a $10 million letter of credit and paying up to $3 million in fees, in exchange for the lender waiving penalties, dismissing foreclosure actions, and approving a five-year lease extension.

Dec 23, 2025, 9:45 PM

Clipper Realty Reports Q3 2025 Results with Flat Revenue and Strong Residential Leasing

CLPR

Earnings

Dividends

New Projects/Investments

Clipper Realty reported Q3 2025 revenues of $37.7 million, which were flat year-over-year compared to $37.6 million in the prior year. Net Operating Income (NOI) decreased to $20.8 million from $21.8 million, and Adjusted Funds From Operations (AFFO) decreased to $5.6 million from $7.8 million.
Residential properties demonstrated strong performance, achieving 99% overall occupancy across stabilized properties, with new rental rates exceeding previous rents by over 14% and renewals by 5%.
The newly completed Prospect House development, brought online in August, is currently 60% leased with pre-market rents over $88 per sq ft. The Pacific House property is now stabilized and contributing to cash flow.
The company announced a Q3 2025 dividend of $0.095 per share, consistent with the prior quarter, payable on December 4, 2025, to shareholders of record on November 26, 2025.

Nov 13, 2025, 10:00 PM

Clipper Realty Reports Q3 2025 Results

CLPR

Earnings

New Projects/Investments

Profit Warning

Clipper Realty Inc. reported strong Q3 2025 residential leasing, with new leases exceeding prior rents by over 14% and occupancy rates near 99%, notably at Tribeca House.
Despite strong residential performance, overall revenue remained flat at $37.7 million, and the company posted a Q3 net loss of $4.6 million, a significant increase from the $1.1 million net loss in the same period last year.
The company reported an adjusted funds from operations (FFO) of $0.13 per share, surpassing estimates, and has consistently beaten FFO consensus over the last four quarters.
Clipper Realty faces financial challenges, including a negative net margin, high leverage with a debt-to-equity ratio of -57.81, and a low Altman Z-Score of 0.11, suggesting potential financial distress.

Nov 13, 2025, 9:16 PM

Clipper Realty Inc. Announces Third Quarter 2025 Results

CLPR

Earnings

Dividends

New Projects/Investments

Clipper Realty Inc. reported quarterly revenues of $37.7 million for Q3 2025, compared to $37.6 million in Q3 2024.
The company experienced a net loss of $4.6 million ($0.14 per share) for Q3 2025, an increase from a net loss of $1.1 million ($0.05 per share) in Q3 2024.
Adjusted Funds from Operations (AFFO) decreased to $5.6 million ($0.13 per share) in Q3 2025 from $7.8 million ($0.18 per share) in Q3 2024.
These results were impacted by the initial lease-up of the new Prospect House residential property, the termination of the New York City lease at 250 Livingston Street, and the May 2025 sale of the 10 West 65th Street property.
The company declared a dividend of $0.095 per share for the third quarter of 2025.