Clipper Equity

What Clipper Equity does

Clipper Equity is a New York City-based private real estate development firm founded in 2015 and led by David Bistricer. The company specializes in large-scale multifamily residential development across the city's outer boroughs, with an active portfolio spanning Greenpoint (the 746-unit complex at 77 Commercial Street), Bedford-Stuyvesant (the 354-unit development at 2366 Bedford Avenue on the former Sears site), and Upper Manhattan (a planned 693-apartment project at 1800 Park Avenue acquired from the Durst Organization for $50 million). Developments mix market-rate and affordable housing units, addressing New York City's acute rental housing shortage.

The firm generates revenue primarily through recurring residential rental income from completed and stabilized multifamily complexes, leasing units directly to tenants. Its go-to-market is project-based rather than sales-driven: it acquires land or adaptive-reuse sites, constructs large rental communities, and secures permanent financing from institutional lenders (JPMorgan Chase, MF1 Capital) upon stabilization. The Greenpoint complex has reached 95% leased, and the Bedford Avenue project is moving from construction to permanent financing.

Clipper Equity's core differentiator is regulatory and capital-structuring expertise — specifically, the strategic use of New York State's 485x tax abatement program by configuring developments as multiple sub-100-unit buildings, as evidenced by the seven-building, 99-units-each plan at 1800 Park Avenue. This structure, combined with demonstrated ability to secure $170 million and $450 million loans from top-tier institutional lenders, allows the firm to optimize financing costs and labor requirements while delivering projects at scale. Customer segments are residential renters — primarily individuals and families seeking housing in high-demand NYC neighborhoods, including both market-rate tenants and qualifying affordable housing seekers.

Name

Clipper Equity

Legal name

Clipper Equity

Website

https://clipperequity.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Clipper Equity is a New York City private real estate developer led by David Bistricer, specializing in large-scale multifamily rental developments across Brooklyn and Upper Manhattan, using New York's 485x tax abatement and institutional capital to build market-rate and affordable housing.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Land Subdivision (2372), Residential Building Construction (23611), Land Subdivision (23721)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Housing Development, Construction & Rehabilitation Programs (BPAIANAB)

akta.pro secondary industries

Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI), Brownfield Redevelopment & Land Reclamation (Cleanup for Reuse, Risk-Based Closure) (EUAIALAI)

Keywords

• Multifamily real estate development
• Residential rental properties
• Affordable housing development
• Adaptive reuse development
• New construction apartments

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Residential Rental Income: Clipper Equity develops multifamily residential complexes and generates revenue through rental income from residential units. The company builds large-scale developments including market-rate and affordable housing units, with recent projects such as the 746-unit Greenpoint complex at 77 Commercial Street and 354-unit development at 2366 Bedford Avenue.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Clipper Equity develops large-scale multifamily residential complexes in New York City, acquiring land or underutilized commercial sites, constructing market-rate and affordable rental housing, and securing permanent institutional financing upon stabilization. Active projects include the 746-unit Greenpoint complex at 77 Commercial Street, the 354-unit development at 2366 Bedford Avenue, and a planned 693-apartment, seven-building project at 1800 Park Avenue in Upper Manhattan. The company generates revenue primarily through residential rental income on completed and stabilized units.

Product overview

Clipper Equity is a real estate development company led by David Bistricer, specializing in multifamily residential development in New York City. Based on the available sources, the company's activities are focused on property development, financing, and construction of residential complexes, rather than technology products or software offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• 77 Commercial Street (Greenpoint rental complex)
• 2366 Bedford Avenue (Brooklyn multifamily development)
• 1800 Park Avenue (Upper Manhattan development)

Quantifiable outcome

• 95% leased upon stabilization for 746-unit Greenpoint complex

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• The Gotham Organization: NYC-based developer of large-scale rental and condominium residential projects. Comparable in focus on multifamily development, mixed-income product, and institutional-grade execution in Manhattan and Brooklyn.
• Quadrum Global: NYC-based multifamily developer focused on ground-up rental and mixed-income projects in outer boroughs. Closely comparable in product type, neighborhood focus, and use of state and city incentive programs.
• Two Trees Management: Brooklyn-focused multifamily and mixed-use developer behind major projects like Domino Sugar. Closely comparable to Clipper Equity in outer-borough NYC multifamily development, adaptive reuse, and large-scale rental delivery.
• Magnum Real Estate Group: NYC-based multifamily and mixed-use developer active in Brooklyn and Manhattan. Comparable in delivering mid- to large-scale rental product and pursuing similar neighborhood-level opportunities.

Broad incumbents

• Lendlease: Global developer with significant NYC multifamily and mixed-use projects. Comparable in the use of public incentives, large-project financing, and adaptive reuse of complex urban sites.
• The Durst Organization: Long-standing NYC real estate developer and owner of office, residential, and mixed-use properties. Direct counterparty in the 1800 Park Avenue parcel sale to Clipper Equity, and a comparable large-scale NYC development operator with similar institutional capital access.
• Tishman Speyer: Global real estate investor and developer with a NYC multifamily portfolio. Comparable in deploying institutional capital, structuring tax-advantaged developments, and operating at scale in NYC.
• Related Companies: National real estate developer with a major NYC multifamily and affordable housing footprint. Comparable in scale of institutional financing and ability to deliver large mixed-income residential pipelines.

Others

• Madison Realty Capital: NYC-focused private real estate lender and debt provider. Comparable as a financing counterparty type to MF1 Capital in Clipper Equity's recent refinancings, and a relevant market benchmark for NYC multifamily debt terms.

Emerging players

• Camber Property Group: NYC affordable and mixed-income multifamily developer. Comparable in producing income-restricted units alongside market-rate product and in leveraging NYC and NY State housing programs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/clipper-equity

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 Equity