CLPR on NYSE
Clipper Realty Inc.
American real estate investment trust, incorporated in Maryland. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerCLPR on NYSE1
- IndustryReal Estate Investment Trusts1
- HeadquartersBrooklyn, New York1
- Incorporated inMD2
- Business address4611 12Th Avenue, Suite 1L, Brooklyn, Ny 112192
- Filer categoryNon-accelerated filer, Smaller reporting company2
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Clipper Realty Inc. is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. We were formed to continue and expand the commercial real estate business of the 50/53 JV LLC, a Delaware limited liability company, Renaissance Equity Holdings LLC, a Delaware limited liability company, Berkshire Equity LLC, a Delaware limited liability company, and Gunki Holdings LLC, a Delaware limited liability company (collectively referred to as, the "Predecessor” or the "predecessor entities”). These predecessor entities were formed by principals of our management team from 2002 to 2014. Our primary focus is to continue to own, manage and operate our portfolio, and to acquire and re-position additional multifamily residen…3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Residential Rental brought in 78% of the revenue Clipper Realty Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Residential Rental | $109.9M | $118.9M |
| Commercial Real Estate | $38.9M | $34.3M |
Business segments
Residential brought in 78% of the revenue Clipper Realty Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Residential | $109.9M | $118.9M |
| Commercial | $38.9M | $34.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue74¢$149.0M
- Interest26¢$53.0M
Out of $153.2M in revenue.4 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid82¢$18.5M
- Kept or used elsewhere18¢$4.1M
Out of $22.6M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| TOTAL REVENUES | $153.2M | $148.8M |
| Property operating expenses | $38.0M | $34.2M |
| Real estate taxes and insurance | $30.4M | $29.8M |
| General and administrative | $15.5M | $14.2M |
| Transaction pursuit costs | -$10.0K | $0 |
| Depreciation and amortization | $31.3M | $29.9M |
| Loss on impairment of Long-Lived Assets | $33.8M | $0 |
| TOTAL OPERATING EXPENSES | $149.0M | $108.0M |
| Litigation settlement and other | -$26.0K | -$269.0K |
| INCOME (LOSS) FROM OPERATIONS | $4.2M | $40.5M |
| Interest expense, net | -$53.0M | -$47.1M |
| Loss on disposal of long-lived assets | -$857.0K | $0 |
| Loss on modification of debt | -$2.6M | $0 |
| Net loss | -$52.3M | -$6.6M |
| Net loss attributable to non-controlling interests | $32.4M | $4.1M |
| Net loss attributable to common stockholders | -$19.9M | -$2.5M |
| Basic and diluted net loss per share (in dollars per share) | -$1.38 | -$0.25 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Land and improvements | $559.4M | $572.0M | |
| Building and improvements | $836.4M | $736.4M | |
| Tenant improvements | $6.4M | $3.4M | |
| Furniture, fixtures and equipment | $13.7M | $13.9M | |
| Real estate under development | $0 | $146.2M | |
| Total investment in real estate | $1.4B | $1.5B | |
| Accumulated depreciation | -$267.0M | -$243.4M | |
| Investment in real estate, net | $1.1B | $1.2B | |
| Cash and cash equivalents | $30.8M | $19.9M | $22.2M |
| Restricted cash | $27.3M | $18.2M | $14.1M |
| Tenant and other receivables, net of allowance for doubtful accounts of $320 and $258, respectively | $8.7M | $6.4M | |
| Deferred rent | $2.1M | $2.1M | |
| Deferred costs and intangible assets, net | $5.3M | $5.7M | |
| Prepaid expenses and other assets | $11.1M | $6.2M | |
| TOTAL ASSETS | $1.2B | $1.3B | |
| Notes payable, net of unamortized loan costs of $8,712 and $9,019, respectively | $1.3B | $1.3B | |
| Accounts payable and accrued liabilities | $18.1M | $18.7M | |
| Security deposits | $9.5M | $9.1M | |
| Other liabilities | $9.9M | $7.1M | |
| TOTAL LIABILITIES | $1.3B | $1.3B | |
| Preferred stock, $0.01 par value; 100,000 shares authorized (including 140 shares of 12.5% Series A cumulative non-voting preferred stock), zero shares issued and outstanding | $0 | $0 | |
| Common stock, $0.01 par value; 500,000,000 shares authorized, 16,146,546 and 16,146,546 shares issued and outstanding, at September 30, 2025, and December 31, 2024, respectively | $160.0K | $160.0K | |
| Additional paid-in-capital | $90.7M | $89.9M | |
| Accumulated deficit | -$121.5M | -$95.5M | |
| Total stockholders equity | -$30.7M | -$5.4M | |
| Non-controlling interests | -$50.0M | -$8.8M | |
| TOTAL EQUITY (DEFICIT) | -$80.8M | -$14.2M | $7.2M |
| TOTAL LIABILITIES AND EQUITY (DEFICIT) | $1.2B | $1.3B | |
| Allowance for doubtful accounts | $317.0K | $258.0K | |
| Unamortized loan costs | $8.7M | $9.0M | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 100.0K shares | 100.0K shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | |
| Common Stock, Shares, Outstanding (in shares) | 16.1M shares | 16.1M shares | |
| Common Stock, Shares, Issued (in shares) | 16.1M shares | 16.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Land and improvements | $559.4M | $572.0M | |
| Building and improvements | $836.4M | $736.4M | |
| Tenant improvements | $6.4M | $3.4M | |
| Furniture, fixtures and equipment | $13.7M | $13.9M | |
| Real estate under development | $0 | $146.2M | |
| Total investment in real estate | $1.4B | $1.5B | |
| Accumulated depreciation | -$267.0M | -$243.4M | |
| Investment in real estate, net | $1.1B | $1.2B | |
| Cash and cash equivalents | $30.8M | $19.9M | $22.2M |
| Restricted cash | $27.3M | $18.2M | $14.1M |
| Tenant and other receivables, net of allowance for doubtful accounts of $320 and $258, respectively | $8.7M | $6.4M | |
| Deferred rent | $2.1M | $2.1M | |
| Deferred costs and intangible assets, net | $5.3M | $5.7M | |
| Prepaid expenses and other assets | $11.1M | $6.2M | |
| TOTAL ASSETS | $1.2B | $1.3B | |
| Notes payable, net of unamortized loan costs of $8,712 and $9,019, respectively | $1.3B | $1.3B | |
| Accounts payable and accrued liabilities | $18.1M | $18.7M | |
| Security deposits | $9.5M | $9.1M | |
| Other liabilities | $9.9M | $7.1M | |
| TOTAL LIABILITIES | $1.3B | $1.3B | |
| Preferred stock, $0.01 par value; 100,000 shares authorized (including 140 shares of 12.5% Series A cumulative non-voting preferred stock), zero shares issued and outstanding | $0 | $0 | |
| Common stock, $0.01 par value; 500,000,000 shares authorized, 16,146,546 and 16,146,546 shares issued and outstanding, at September 30, 2025, and December 31, 2024, respectively | $160.0K | $160.0K | |
| Additional paid-in-capital | $90.7M | $89.9M | |
| Accumulated deficit | -$121.5M | -$95.5M | |
| Total stockholders equity | -$30.7M | -$5.4M | |
| Non-controlling interests | -$50.0M | -$8.8M | |
| TOTAL EQUITY (DEFICIT) | -$80.8M | -$14.2M | $7.2M |
| TOTAL LIABILITIES AND EQUITY (DEFICIT) | $1.2B | $1.3B | |
| Allowance for doubtful accounts | $317.0K | $258.0K | |
| Unamortized loan costs | $8.7M | $9.0M | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 100.0K shares | 100.0K shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | |
| Common Stock, Shares, Outstanding (in shares) | 16.1M shares | 16.1M shares | |
| Common Stock, Shares, Issued (in shares) | 16.1M shares | 16.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$52.3M | -$6.6M |
| Depreciation | $31.2M | $29.8M |
| Amortization of deferred financing costs | $2.7M | $2.1M |
| Amortization of deferred costs and intangible assets | $583.0K | $587.0K |
| Loss on modification of debt | $2.6M | $0 |
| Loss on Impairment of long-lived assets | $33.8M | $0 |
| Loss on disposal of long-lived assets | $857.0K | $0 |
| Gain on termination of lease | $0 | |
| Deferred rent | $41.0K | $251.0K |
| Stock-based compensation | $4.3M | $2.7M |
| Bad debt (recovery) expense | $47.0K | $30.0K |
| Tenant and other receivables | -$2.4M | -$1.2M |
| Prepaid expenses, other assets and deferred costs | -$5.0M | $4.5M |
| Accounts payable and accrued liabilities | $4.1M | -$948.0K |
| Security deposits | $450.0K | $302.0K |
| Other liabilities | $1.6M | $345.0K |
| Net cash provided by operating activities | $22.6M | $31.9M |
| Additions to land, buildings, and improvements | -$31.3M | -$68.8M |
| Proceeds from sale of real estate, net | $43.5M | $0 |
| Purchase of interest rate caps | -$97.0K | $0 |
| Net cash provided (used) in investing activities | $12.1M | -$68.8M |
| Payments of mortgage notes | -$244.1M | -$2.0M |
| Proceeds from mortgage notes | $254.9M | $58.3M |
| Dividends and distributions | -$18.5M | -$17.6M |
| Loan issuance and extinguishment costs | -$7.0M | $0 |
| Net cash provided (used) by financing activities | -$14.6M | $38.7M |
| Net increase in cash and cash equivalents and restricted cash | $20.1M | $1.8M |
| Cash paid for interest, net of capitalized interest of $5,902 and $4,760 in 2025 and 2024, respectively | $49.0M | $44.0M |
| Non-cash interest capitalized to real estate under development | $1.9M | $2.3M |
| Additions to investment in real estate included in accounts payable and accrued liabilities | $3.4M | $8.2M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Clipper Realty Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerDavid Bistricer Feb 10, 2017 to now12
- ChairDavid Bistricer Feb 10, 2017 to now12
- Chief financial officerMichael Charles Frenz Jul 2, 2019 to Mar 16, 202113
- Chief financial officerLawrence E. Kreider Feb 9, 2017 to Jul 2, 201914
- Chief operating officerJacob Bistricer Feb 9, 2017 to now15
Board members and other officers (7)
- Chief Property Mgmt OfficerJacob Schwimmer Feb 9, 2017 to now16
- Board memberHarmon Spolan Feb 12, 2018 to now17
- Board memberRichard N. Burger Feb 12, 2018 to now18
- Board memberHoward M. Lorber Feb 9, 2017 to now19
- Board memberRobert Jay Ivanhoe Feb 9, 2017 to now20
- Board memberRoberto Angelo Verrone Feb 9, 2017 to now21
- Board memberSam Levinson Feb 10, 2017 to now22
Timeline
- Feb 10, 2017New chief executive David Bistricer becomes CEO12
Filings
161 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 40 major events, 68 insider forms, 15 large holders, 18 other. The latest 20:
- Oct 2, 2026SCHEDULE 13D/A EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Sep 30, 20264 EDGAR
- Sep 25, 20264 EDGAR
- Sep 17, 2026SCHEDULE 13G EDGAR
- Sep 16, 20264 EDGAR
- Sep 10, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Aug 20, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13D/A EDGAR
- Aug 14, 20264 EDGAR
- Aug 6, 20268-K EDGAR
- Aug 6, 202610-Q EDGAR
- Jul 2, 20268-K EDGAR
- Jun 18, 20268-K EDGAR
- May 14, 20268-K EDGAR
- May 14, 202610-Q EDGAR
- Apr 30, 2026DEFA14A EDGAR
- Apr 30, 2026DEF 14A EDGAR
The 161 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
20 open-market trades by officers, directors and large owners since October 2021: 20 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 28, 2026 | Bistricer JacobChief Operating Officer | Buy | 73,500 | $3.35 | $246.2K | Form 4 |
| Sep 24, 2026 | Levinson SamDirector | Buy | 9,317 | $3.38 | $31.5K | Form 4 |
| Sep 23, 2026 | Levinson SamDirector | Buy | 13,606 | $3.38 | $46.0K | Form 4 |
| Sep 15, 2026 | Levinson SamDirector | Buy | 4,315 | $3.30 | $14.2K | Form 4 |
| Sep 14, 2026 | Levinson SamDirector | Buy | 4,769 | $3.28 | $15.6K | Form 4 |
| Sep 9, 2026 | Levinson SamDirector | Buy | 110,710 | $3.31 | $366.4K | Form 4 |
| Sep 8, 2026 | Levinson SamDirector | Buy | 6,842 | $3.24 | $22.2K | Form 4 |
| Sep 2, 2026 | Levinson SamDirector | Buy | 5,387 | $3.25 | $17.5K | Form 4 |
| Sep 1, 2026 | Levinson SamDirector | Buy | 934 | $3.20 | $3.0K | Form 4 |
| Aug 31, 2026 | Levinson SamDirector | Buy | 1,742 | $3.25 | $5.7K | Form 4 |
| Aug 20, 2026 | Levinson SamDirector | Buy | 2,392 | $3.19 | $7.6K | Form 4 |
| Aug 19, 2026 | Levinson SamDirector | Buy | 9,260 | $3.14 | $29.1K | Form 4 |
| Aug 18, 2026 | Levinson SamDirector | Buy | 86,983 | $3.15 | $274.0K | Form 4 |
| Aug 14, 2026 | Levinson SamDirector | Buy | 3,945 | $3.29 | $13.0K | Form 4 |
| Aug 13, 2026 | Levinson SamDirector | Buy | 81,647 | $3.21 | $262.1K | Form 4 |
| Aug 12, 2026 | Levinson SamDirector | Buy | 69,172 | $3.09 | $213.7K | Form 4 |
| Dec 31, 2025 | Levinson SamDirector | Buy | 2,793 | $3.79 | $10.6K | Form 4 |
| Dec 30, 2025 | Levinson SamDirector | Buy | 19,558 | $3.70 | $72.4K | Form 4 |
| Dec 29, 2025 | Levinson SamDirector | Buy | 35,912 | $3.71 | $133.2K | Form 4 |
| Aug 21, 2025 | BISTRICER DAVIDCo-Chairman and CEO | Buy | 8,174 | $4.01 | $32.8K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Sam LevinsonSCHEDULE 13D/A, 2 filings Aug 14, 2026 to Oct 2, 202623
- David Bistricer Trust of 2014SCHEDULE 13G, 1 filing Sep 17, 202624
- InvescoSCHEDULE 13G/A, 2 filings Feb 7, 2025 to May 9, 202525
- BlackRockSCHEDULE 13G/A, 1 filing Feb 5, 202526
- FMR LLCSC 13G/A, 3 filings Feb 9, 2023 to Nov 12, 202427
- BRIGADE CAPITAL MANAGEMENT, LPSC 13G, 2 filings Feb 14, 2022 to Feb 14, 202328
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 67. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARHarmon Spolan, Board member
- 18SEC EDGARRichard N. Burger, Board member
- 19SEC EDGARHoward M. Lorber, Board member
- 20SEC EDGARRobert Jay Ivanhoe, Board member
- 21SEC EDGARRoberto Angelo Verrone, Board member
- 22SEC EDGARSam Levinson, Board member
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