Filing Analysis
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended June 30, 2026.
📋 Key Facts
- Report date: August 6, 2026
- Reporting period: Quarterly period ended June 30, 2026
- The filing includes a press release (Exhibit 99.1) detailing financial results.
- The information is furnished under Item 2.02 and not 'filed' for purposes of Section 18 liability.
Clipper Realty Inc. has entered into a Consent and Cooperation Agreement regarding a $125 million loan secured by its 250 Livingston Street property in Brooklyn. The agreement facilitates the joint marketing of the loan to third parties, with the lender retaining foreclosure rights at the end of the marketing period.
🚩 Red Flags
- Potential for loss of significant asset (250 Livingston Street) via foreclosure or deed in lieu.
- Lender has unilateral discretion to extend the marketing period.
- The agreement indicates a distressed situation regarding the servicing/ownership of the debt.
📋 Key Facts
- Loan principal amount: $125.0 million.
- Collateral: 250 Livingston Street property in Brooklyn, NY.
- Maturity date: June 6, 2029.
- Interest rate: 3.63% (interest-only payments).
- Marketing period for the loan: Commenced June 4, 2026, and ends approximately July 19, 2026 (subject to extension).
- Lender has the right to foreclose or take a deed in lieu of foreclosure at the end of the marketing period.
- Borrower retains the right to submit an offer to purchase the Loan.
Clipper Realty Inc. reported the results of its 2025 Annual Meeting of Stockholders held on June 17, 2026. All proposals, including the election of seven directors, the ratification of the accounting firm, and executive compensation, were approved.
📋 Key Facts
- Annual Meeting of Stockholders held on June 17, 2026.
- Seven director nominees were elected, including David Bistricer and Howard M. Lorber.
- PKF O’Connor Davies, LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
- Executive compensation was approved on a non-binding, advisory basis with 30,337,150 votes in favor.
Clipper Realty Inc. reported its financial results for the first quarter ended March 31, 2026. The results were announced via a press release furnished as an exhibit to the filing.
📋 Key Facts
- The filing was made on May 14, 2026, to report results for the quarter ended March 31, 2026.
- The company utilized Item 2.02 (Results of Operations and Financial Condition) to disclose the earnings release.
- The report was signed by David Bistricer, Co-Chairman and Chief Executive Officer.
Clipper Realty Inc. is facing a foreclosure lawsuit and a request for a court-appointed receiver after defaulting on a $125 million loan secured by its 250 Livingston Street property in Brooklyn. The lender, Wilmington Trust, NA, filed a complaint on March 25, 2026, seeking to sell the property to satisfy the debt, which includes approximately $6.3 million in unpaid interest and default interest.
🚩 Red Flags
- Active foreclosure litigation on a material $125 million asset.
- Lender seeking a court-appointed receiver, which would strip management of control over the property.
- The parent company and operating partnership are directly named in the lawsuit as guarantors.
- Accumulation of default interest ($6.3 million) indicates significant liquidity strain.
📋 Key Facts
- The loan in default has a principal amount of $125.0 million and was originally entered into on May 31, 2019.
- The property at 250 Livingston Street, Brooklyn, New York, serves as the primary security for the loan.
- A formal complaint was filed by the Lender on March 25, 2026, following a default notice previously issued on December 18, 2025.
- The Lender is demanding the appointment of a receiver to manage the property and a sale of the asset to satisfy the debt.
- Clipper Realty Inc. and its operating subsidiary, Clipper Realty L.P., are named as defendants and serve as guarantors for certain loan obligations.
- As of March 31, 2026, the company estimates it owes $6.3 million in interest and default interest, excluding other fees.
Clipper Realty Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2025. The announcement was made via a press release furnished as an exhibit to the filing.
📋 Key Facts
- Financial results announced for the quarter ended December 31, 2025.
- Filing includes Item 2.02 (Results of Operations and Financial Condition).
- Press release is included as Exhibit 99.1.
- The filing was signed by CEO David Bistricer on February 26, 2026.
Clipper Realty Inc. entered into a Loan Modification Agreement with Wells Fargo Bank to settle ongoing litigation and resolve foreclosure actions related to its 141 Livingston Street property. The agreement involves significant cash outflows for fees and the provision of a $10 million letter of credit.
🚩 Red Flags
- Resolution of 'ongoing litigation' regarding a $100M loan indicates significant prior distress or default.
- Requirement to provide a $10 million letter of credit represents a substantial liquidity commitment/encumbrance.
- Significant cash outflow ($2.2 million) for legal and servicer fees to settle the dispute.
📋 Key Facts
- The modification settles litigation between the Lender (Wells Fargo Bank, N.A.) and the Company/Borrower regarding a $100.0 million loan.
- Effective date of the agreement: December 30, 2025.
- The Borrower provided a $10 million renewal tenant reserve account letter of credit.
- The Company paid approximately $2.2 million in fees to the special servicer and legal counsel for the Lender.
- Lender agreed to dismiss pending foreclosure actions with prejudice.
- Lender waived claimed late charges and default interest.
- A five-year lease extension for the Property's NYC tenant was approved effective December 28, 2025.
Clipper Realty Inc. reports a formal notice of default on its $125 million loan for the 250 Livingston Street property, with approximately $3.4 million in unpaid interest and default interest owed as of December 22, 2025. The company is also negotiating a settlement regarding litigation and potential defaults related to its 141 Livingston Street property.
🚩 Red Flags
- Formal notice of default on a major $125M loan.
- Threat of foreclosure/reconveyance by the lender.
- Significant unpaid interest/default interest ($3.4M).
- Ongoing litigation with lenders regarding other properties (141 Livingston Street).
- Loss of a major tenant (City of New York) at 250 Livingston Street in August 2025.
📋 Key Facts
- Borrower (250 Livingston Owner LLC) received notice of default from Wilmington Trust, NA on December 18, 2025.
- The $125 million loan for 250 Livingston Street is in default due to failure to pay amounts when due; the company owes ~$3.4 million in interest and default interest as of Dec 22, 2025.
- Lender has threatened foreclosure or reconveyance actions to protect its interests.
- The Company is attempting to negotiate a Consent and Cooperation Agreement for the sale of the 250 Livingston Street property.
- Regarding 141 Livingston Street: The company anticipates an agreement with Wells Fargo Bank, N.A. to settle litigation, which would involve providing a $10 million letter of credit and paying up to $3 million in fees.
Clipper Realty Inc. filed an 8-K to furnish its quarterly financial results for the period ended September 30, 2025. The filing serves as a formal announcement of earnings via a press release.
📋 Key Facts
- The filing is pursuant to Item 2.02 (Results of Operations and Financial Condition).
- Financial results announced are for the quarterly period ended September 30, 2025.
- A press release dated November 13, 2025, is attached as Exhibit 99.1.
Clipper Realty Inc. successfully refinanced the $80 million mortgage debt on its 1010 Pacific Street property, replacing it with a new $84.5 million loan from Citi Real Estate Funding and Morgan Stanley Bank.
🚩 Red Flags
- Refinancing occurred after the previous debt's maturity date (Sept 15, 2025) vs. new loan date (Oct 1, 2025), suggesting a slight delay in closing.
📋 Key Facts
- New loan amount: $84.5 million
- Maturity date: October 6, 2030 (5-year term)
- Interest rate: 5.73% per annum
- Lenders: Citi Real Estate Funding Inc. and Morgan Stanley Bank, N.A.
- Security: Residential rental property at 1010 Pacific Street, Brooklyn, NY
- Refinancing replaced $80 million in debt from Valley National Bank N.A. that matured on September 15, 2025
- The company paid approximately $80.4 million to settle the prior loan and incurred $1.7 million in closing costs/prepaid interest
- Net proceeds from refinancing: approximately $2.1 million
Clipper Realty Inc. filed an 8-K to announce the release of its financial results for the quarterly period ended June 30, 2025.
📋 Key Facts
- The filing is a standard announcement of quarterly earnings (Item 2.02).
- Financial results cover the quarter ending June 30, 2025.
- The report was filed on August 7, 2025.
Clipper Realty Inc. reported the results of its 2025 Annual Meeting of Stockholders held on June 18, 2025. The primary outcome was the stockholder approval of two new compensation plans: the 2025 Omnibus Incentive Compensation Plan and the 2025 Non-Employee Director Plan.
📋 Key Facts
- Annual Meeting held on June 18, 2025.
- Stockholders approved the 2025 Omnibus Incentive Compensation Plan (Exhibit 10.1).
- Stockholders approved the 2025 Non-Employee Director Plan (Exhibit 10.2).
Clipper Realty Inc. reported the results of its 2024 Annual Meeting of Stockholders held on June 18, 2025. All proposals presented at the meeting, including director elections and auditor ratification, were approved by stockholders.
📋 Key Facts
- The 2024 Annual Meeting of Stockholders was held on June 18, 2025.
- All seven director nominees (David Bistricer, Sam Levinson, Howard M. Lorber, Robert J. Ivanhoe, Roberto A. Verrone, Harmon S. Spolan, and Richard N. Burger) were elected.
- Stockholders ratified the appointment of PKF O’Connor Davies, LLP as the independent registered public accounting firm for fiscal year 2025.
- The 2025 Omnibus Incentive Plan was approved (30,651,964 votes 'For').
- The 2025 Non-Employee Director Plan was approved (30,978,764 votes 'For').
Clipper Realty Inc. completed the sale of its property located at 10 West 65th Street in New York on May 30, 2025. The transaction involved the full repayment of a $31.2 million mortgage and resulted in gross proceeds of approximately $43.6 million after closing costs.
🚩 Red Flags
- Asset disposition reduces the company's real estate portfolio/asset base (though likely used to deleverage).
📋 Key Facts
- Completed sale of 10 West 65th Street property on May 30, 2025.
- Gross sale proceeds: $45.5 million.
- Closing costs: approximately $1.9 million.
- Repaid $31.2 million mortgage note to Flagstar Bank in full.
- Paid $0.8 million in accrued interest.
- Released $1.1 million in property tax escrow and debt reserves upon repayment.
- No prepayment penalties were incurred on the mortgage.
Clipper Realty Inc. provides an update regarding ongoing litigation involving its subsidiary, 141 Livingston Owner LLC, and the Company as guarantors. The Court denied a plaintiff's motion to appoint a receiver for the 141 Livingston Street property but also denied the Company's motion to dismiss the lawsuit.
🚩 Red Flags
- Ongoing litigation involving a major property asset (141 Livingston Street).
- Company and its operating partnership are named as guarantors in the lawsuit, creating potential contingent liabilities.
- The denial of the Company's motion to dismiss means the legal proceedings will continue through discovery/trial.
📋 Key Facts
- Plaintiff (Wells Fargo Bank, N.A., acting as trustee) filed a lawsuit against 141 Livingston Owner LLC and Clipper Realty Inc. in New York Supreme Court.
- The lawsuit concerns promissory mortgage notes secured by the 141 Livingston Street property.
- On May 13, 2025, the Court denied the Plaintiff's motion to appoint a receiver for the property.
- The Court noted that the likelihood of the Plaintiff prevailing on claims to appoint a receiver appears remote.
- The Court denied the Company's cross-motion to dismiss the lawsuit, stating that plaintiff's contentions raise questions of fact.
- The Company intends to continue defending against the meritless claims.
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended March 31, 2025.
📋 Key Facts
- The filing is a standard announcement of quarterly earnings (Item 2.02).
- Financial results pertain to the quarter ending March 31, 2025.
- The press release announcing these results was issued on May 12, 2025.
Clipper Realty Inc. has entered into new senior and mezzanine loan agreements totaling $160 million to refinance existing construction debt related to the Dean Street Property. The company also purchased an interest rate cap to mitigate SOFR volatility.
🚩 Red Flags
- Significant refinancing activity involving $126M in debt repayment/re-leveraging.
- Requirement of substantial cash reserves ($5.9M total) for interest, operating expenses, and construction completion.
📋 Key Facts
- Entered into a $115M senior Loan Agreement with MF1 Capital LLC (via subsidiary Dean Owner LLC).
- Entered into a $45M Mezzanine Loan Agreement with MF1 Capital LLC (via subsidiary Dean Member LLC).
- New loans have an initial maturity date of May 2027, with three one-year extensions available.
- Interest rate is 2.65% + 1-Month CME Term SOFR (floor of 2.25%).
- The Company purchased an interest rate cap with US Bank capping the SOFR portion at 6%.
- Repaid $126 million in principal and accrued interest to terminate prior loan agreements.
- Incurred approximately $3.1 million in closing costs for the new financing structure.
- Deposited $4.3 million into a shortfall reserve account and $1.6 million into a completion reserve.
Clipper Realty Inc. has entered into an agreement to sell its '10 West 65th Street' property in New York for $45.5 million. The sale will result in a significant non-cash impairment charge estimated between $32.0 million and $34.0 million.
🚩 Red Flags
- Significant asset impairment ($32M-$34M) relative to the sale price, indicating a substantial loss on the disposal of the asset.
- High level of uncertainty regarding final impairment amounts and closing costs.
📋 Key Facts
- Sale price of the property: $45.5 million.
- Estimated impairment charge for Investment in Real Estate: $32.0 million to $34.0 million.
- The transaction is expected to close within 30-60 days from April 2, 2025.
- Proceeds will be used to repay a $31.2 million mortgage with Flagstar Bank.
- Estimated net cash proceeds after debt repayment and closing costs: approximately $12.0 million.
- The buyer has deposited approximately $4.6 million into escrow.
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended December 31, 2024.
📋 Key Facts
- The filing is a standard announcement of quarterly earnings (Item 2.02).
- Reporting period: Quarter ended December 31, 2024.
- Filing date: February 14, 2025.
- The press release containing the actual financial data is attached as Exhibit 99.1.
Clipper Realty Inc. announced that its $100 million loan for the 141 Livingston Street property has been accelerated by a Special Servicer following an alleged failure to make required reserve payments. The company is currently disputing the default and is in pre-negotiation discussions with the lender.
🚩 Red Flags
- Acceleration of a $100 million debt obligation creates immediate liquidity and solvency risk.
- Dispute with a Special Servicer indicates significant distress regarding loan servicing/compliance.
- Potential for total loss of the 141 Livingston Street property if negotiations fail.
📋 Key Facts
- The Loan Agreement, dated February 18, 2021, involves a principal amount of $100.0 million secured by the 141 Livingston Street property.
- On November 11, 2024, the Special Servicer notified the Borrower that the loan has been accelerated due to an alleged event of default.
- The accelerated amount includes approximately $100M principal, $5.0M yield maintenance premium, $10.0M aggregate reserve deposit, and ~$1.6M in default interest/penalties.
- The dispute centers on whether monthly reserve payments were required starting July 7, 2024; the Company disputes this obligation.
- The company is currently engaged in good faith pre-negotiation discussions with the Special Servicer.
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended September 30, 2024. The filing serves as a formal notice that earnings results have been released via press release.
📋 Key Facts
- Report date: October 31, 2024
- Reporting period: Quarterly period ended September 30, 2024
- The filing includes Exhibit 99.1 containing the earnings press release
- Company is listed on the New York Stock Exchange (NYSE) under ticker CLPR
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended June 30, 2024.
📋 Key Facts
- The filing was made on August 1, 2024.
- The report pertains to the second quarter (quarterly period) ended June 30, 2024.
- Financial results were announced via a press release furnished as Exhibit 99.1.
Clipper Realty Inc. held its 2023 Annual Meeting of Stockholders on June 18, 2024, where stockholders approved all presented proposals.
📋 Key Facts
- The 2023 Annual Meeting of Stockholders was held on June 18, 2024.
- All seven director nominees were elected to the Board of Directors.
- Stockholders ratified the appointment of PKF O’Connor Davies, LLP as the independent registered public accounting firm for fiscal year ending Dec 31, 2024.
- Proposals to amend the 2015 Non-Employee Director Plan to increase share issuances were approved.
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended March 31, 2024. The filing serves as a formal notice that earnings press release has been issued.
📋 Key Facts
- Report date: May 7, 2024
- Reporting period: Quarterly period ended March 31, 2024
- The company furnished Exhibit 99.1 containing the earnings press release.
Clipper Realty Inc. filed an 8-K to announce its financial results for the quarterly period ended December 31, 2023.
📋 Key Facts
- Report date: March 14, 2024.
- Reporting period: Quarterly period ended December 31, 2023.
- The filing is a standard announcement of financial results via press release (Exhibit 99.1).
Clipper Realty Inc. announced that its tenant, the City of New York (NYC), intends to terminate its lease for 342,496 square feet of office space in Brooklyn effective August 23, 2025. This lease represents approximately $15.4 million in annual rent and is secured by a $125 million mortgage.
🚩 Red Flags
- Significant loss of anchor tenant: The NYC lease is a major revenue driver ($15.4M/year).
- Risk of vacancy: Company may be unable to find replacement tenants at comparable rates.
- Potential for high capital expenditures: Costs associated with improving vacated space or providing inducements to new tenants.
- Lender control: The mortgage lender is taking control of building cash flows via a cash management account due to the lease termination.
📋 Key Facts
- Tenant (NYC) notified the company of intention to terminate lease on February 23, 2024.
- Termination effective date: August 23, 2025.
- Leased space: 342,496 square feet at 240-250 Livingston Street, Brooklyn, NY.
- Annual rent value: ~$15.4 million.
- The building is encumbered by a $125 million mortgage note with Citi Real Estate Funding Inc., maturing June 6, 2029 (3.63% interest).
- Lender will establish a cash management account to capture all revenue from the Building due to the lease termination.