Clipper Realty Inc

What Clipper Realty Inc does

Clipper Realty Inc is a publicly traded Real Estate Investment Trust (NYSE: CLPR), founded in 2015 and headquartered in Brooklyn, New York, that acquires, owns, manages, and repositions multifamily residential and commercial properties in the New York metropolitan area. The company operates a dual-segment portfolio: a multifamily residential business with near-full 99% occupancy where new lease rents are running 13% above expiring rents and free-market rents have risen 7%, and a commercial office business anchored by two Livingston Street properties in Brooklyn that has come under severe stress following the August 2025 exit of the New York City government as a tenant at 250 Livingston Street.

The residential portfolio includes the Prospect House development in Brooklyn, which reached 78% leased at $85 per square foot and is positioned to drive revenue growth through mid-2026. The commercial portfolio is concentrated in 250 Livingston Street (subject to an active foreclosure by Citi Real Estate Funding on a $125 million loan) and 141 Livingston Street (subject to ongoing settlement discussions with Wells Fargo on a $100 million mortgage). Clipper Realty generates revenue through recurring rental income from both segments and pays an 11-13% dividend yield to shareholders.

The business model is a non-recourse debt-financed REIT operating on subscription-style recurring rental income. Distribution is conducted through direct property leasing by in-house property management teams in the New York metro area, with investor relations primarily handled through SEC filings, earnings calls, and the corporate website. The company has 101-250 employees and maintains no proprietary technology product beyond traditional property management operations.

Name

Clipper Realty Inc

Legal name

Clipper Realty Inc.

Website

https://clipperrealty.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Clipper Realty Inc is a publicly traded NYSE REIT (CLPR) that owns, manages, and repositions multifamily residential and commercial properties in the New York metropolitan area, primarily serving NYC residential tenants and select commercial tenants through direct in-house leasing.

Ownership category

akta.pro rank

Product category

Multifamily and Commercial Real Estate

NAICS

Lessors of Residential Buildings and Dwellings (53111), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

Real Estate Investment Trusts (6798), Real Estate Operators (No Developers) & Lessors (6510), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industry

Multifamily Brokerage (BPAJABAD)

Keywords

• Multifamily residential properties
• Commercial office properties
• Property management services
• Real estate investment trust
• Property leasing

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain

Revenue model

1. Residential Rental Income: Rental income from multifamily residential properties in New York metropolitan area. The company reports strong residential performance with 99% occupancy and new lease rents exceeding prior rents by 13%, with free market rents rising 7%.
2. Commercial Rental Income: Rental income from commercial office properties in New York metropolitan area. The office segment faces challenges including the NYC city government exiting its 250 Livingston Street lease.

Distribution channels1 record

Marketing channels3 records

Core offering

Clipper Realty Inc. is a publicly traded REIT that acquires, owns, manages, and repositions multifamily residential and commercial properties in the New York metropolitan area. Its core offerings consist of multifamily residential apartment buildings (with near-full 99% occupancy and new lease rents exceeding prior rents by 13%) and commercial office assets (notably 250 Livingston Street and 141 Livingston Street in Brooklyn). The Prospect House development serves as a residential growth property reaching 78% leased status with free market rents at $85 per square foot.

Product overview

Clipper Realty Inc operates as a publicly traded real estate investment trust (REIT) with a dual-segment property portfolio consisting of multifamily residential properties and commercial office properties in the New York metropolitan area. The company's residential portfolio shows strong performance with near-full occupancy and rent increases, while the commercial office segment has faced challenges including a lease termination at 250 Livingston Street. The Prospect House development represents a growth initiative within the residential portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Multifamily Residential Properties Owner and operator of multifamily residential apartment buildings in the New York metropolitan area, with near-full 99% occupancy rates and new lease rents exceeding prior rents by 13%. Targeted at individual residential renters seeking housing in supply-constrained Brooklyn neighborhoods.
• Commercial Office Properties Commercial office properties including 250 Livingston Street and 141 Livingston Street in Brooklyn, NY. Leased to commercial tenants and government entities for office use, with the 250 Livingston property facing ongoing debt restructuring challenges following the NYC city government lease termination.
• Prospect House Development Brooklyn residential development property reaching 78% leased status with free market rents at $85 per square foot, expected to drive revenue growth into mid-2026. Targeted at residential renters in the New York metropolitan area.

Quantifiable outcome

• Residential portfolio near-full 99% occupancy rate
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators14 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Veris Residential: A NYC-metro-area multifamily REIT (NYSE: VRE) operating a portfolio of Class A multifamily properties in New Jersey, with similar supply-constrained, rent-regulated market dynamics and small-cap profile to Clipper.
• Elme Communities: A small-cap multifamily REIT (NYSE: ELME) operating apartment communities across the Mid-Atlantic / DC metro area; directly comparable to Clipper in scale, focus on garden-style and mid-rise multifamily, and exposure to rent-regulated markets.
• BRT Realty Trust: A small-cap multifamily-focused REIT (NYSE: BRT) with a portfolio that includes multifamily properties and real estate debt; comparable to Clipper in size and in its use of leveraged, value-oriented real estate strategies.
• Centerspace: A small-cap multifamily REIT (NYSE: CSR) operating apartments in select U.S. markets; comparable in market cap tier, dividend-orientation, and focus on operating fundamentals over development.
• Independence Realty Trust: A multifamily REIT (NYSE: IRT) focused on middle-market apartment communities across the Sun Belt; comparable in scale and pure-play multifamily strategy, though operating in different geographies.
• Empire State Realty Trust: A NYC-focused office and destination-retail REIT (NYSE: ESRT) directly comparable to Clipper's commercial office segment and its Brooklyn office exposure, including assets near the Livingston Street corridor.
• Paramount Group: A NYC and San Francisco office REIT (NYSE: PGRE) operating high-quality Class A office assets; comparable to Clipper's commercial office segment in market exposure and post-COVID occupancy headwinds.

Broad incumbents

• Equity Residential: One of the largest U.S. multifamily REITs (NYSE: EQR) with a portfolio concentrated in urban and high-density coastal markets including NYC; provides a broad incumbent benchmark for Clipper's residential strategy and coastal rent dynamics.
• AvalonBay Communities: A large-cap multifamily REIT (NYSE: AVB) with coastal, urban-adjacent apartment communities; comparable as a benchmark for multifamily operational performance and as an acquirer/competitor in the same target geographies.
• Apartment Investment and Management: A diversified multifamily REIT (NYSE: AIV) with both owned and fee-managed apartment portfolios; relevant incumbent peer for understanding multifamily operating leverage and capital recycling dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/clipper-realty-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clipper Realty Inc