CLPR Stock Price Correlated With Clipper Realty Financials
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Income Statement
Cash Flow
Balance Sheet
CLPR Income Statement
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CLPR Cash Flow
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CLPR Balance Sheet
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COMPANY PROFILE
1. Organization
Clipper Realty Inc. (the “Company” or “We”) was organized in the state of Maryland on July 7, 2015. On August 3, 2015, we completed certain formation transactions and the sale of shares of common stock in a private offering. We contributed the net proceeds of the private offering to Clipper Realty L.P., our operating partnership subsidiary (the “Operating Partnership”), in exchange for units in the Operating Partnership. The Operating Partnership in turn contributed such net proceeds to the limited liability companies (“LLCs”) that comprised the predecessor of the Company in exchange for Class A LLC units in such LLCs and became the managing member of such LLCs. The owners of the LLCs exchanged their interests for Class B LLC units and an equal number of special, non-economic, voting stock in the Company. The Class B LLC units, together with the special voting shares, are convertible into common shares of the Company on a one-for- one basis and are entitled to distributions.
On June 27, 2016, the Operating Partnership acquired the Aspen property located at 1955 First Avenue in Manhattan, New York.
On February 9, 2017, the Company priced an initial public offering of 6,390,149 primary shares of its common stock (including the exercise of the over-allotment option, which closed on March 10, 2017) at a price of $13.50 per share (the “IPO”). The net proceeds of the IPO were approximately $79,000. We contributed the proceeds of the IPO to the Operating Partnership, in exchange for units in the Operating Partnership.
On May 9, 2017, the Company completed the purchase of 107 Columbia Heights (subsequently renovated and rebranded “Clover House”), a 158-unit apartment building located in the Brooklyn Heights neighborhood of Brooklyn, New York.
On October 27, 2017, the Company completed the acquisition of an 82-unit residential property at 10 West 65 th Street in the Upper West Side neighborhood of Manhattan, New York.
On November 8, 2019, the Company completed the acquisition of 1010 Pacific Street located in the Prospect Heights neighborhood of Brooklyn, New York; the Company is currently redeveloping the property into a 175-unit residential building.
During the period December 2021 through February 2022, the Company purchased the Dean Street property which consists of multiple parcels of land in the Prospect Heights neighborhood of Brooklyn, New York; the Company plans to redevelop the property as a 240-unit residential building with two ground floor retail units.
As of December 31, 2021, the properties owned by the Company consist of the following (collectively, the “Properties”):
• Tribeca House in Manhattan, comprising two buildings, one with 21 stories and one with 12 stories, containing residential and retail space with an aggregate of approximately 483,000 square feet of residential rental Gross Leasable Area (“GLA”) and 77,000 square feet of retail rental and parking GLA;
• Flatbush Gardens in Brooklyn, a 59-building residential housing complex with 2,494 rentable units;
• 141 Livingston Street in Brooklyn, a 15-story office building with approximately 216,000 square feet of GLA;
• 250 Livingston Street in Brooklyn, a 12-story office and residential building with approximately 370,000 square feet of GLA (fully remeasured);
• Aspen in Manhattan, a 7-story building containing residential and retail space with approximately 166,000 square feet of residential rental GLA and approximately 21,000 square feet of retail rental GLA;
• Clover House in Brooklyn, a 11-story residential building with approximately 102,000 square feet of residential rental GLA;
• 10 West 65 th Street in Manhattan, a 6-story residential building with approximately 76,000 square feet of residential rental GLA; and
• 1010 Pacific Street in Brooklyn, which the Company is developing into a 9-story residential building with approximately 119,000 square feet of residential rental GLA.
• Dean Street in Brooklyn, which the Company pl
Clipper Realty Inc. (the “Company” or “We”) was organized in the state of Maryland on July 7, 2015. On August 3, 2015, we completed certain formation transactions and the sale of shares of common stock in a private offering. We contributed the net proceeds of the private offering to Clipper Realty L.P., our operating partnership subsidiary (the “Operating Partnership”), in exchange for units in the Operating Partnership. The Operating Partnership in turn contributed such net proceeds to the limited liability companies (“LLCs”) that comprised the predecessor of the Company in exchange for Class A LLC units in such LLCs and became the managing member of such LLCs. The owners of the LLCs exchanged their interests for Class B LLC units and an equal number of special, non-economic, voting stock in the Company. The Class B LLC units, together with the special voting shares, are convertible into common shares of the Company on a one-for- one basis and are entitled to distributions.
On June 27, 2016, the Operating Partnership acquired the Aspen property located at 1955 First Avenue in Manhattan, New York.
On February 9, 2017, the Company priced an initial public offering of 6,390,149 primary shares of its common stock (including the exercise of the over-allotment option, which closed on March 10, 2017) at a price of $13.50 per share (the “IPO”). The net proceeds of the IPO were approximately $79,000. We contributed the proceeds of the IPO to the Operating Partnership, in exchange for units in the Operating Partnership.
On May 9, 2017, the Company completed the purchase of 107 Columbia Heights (subsequently renovated and rebranded “Clover House”), a 158-unit apartment building located in the Brooklyn Heights neighborhood of Brooklyn, New York.
On October 27, 2017, the Company completed the acquisition of an 82-unit residential property at 10 West 65 th Street in the Upper West Side neighborhood of Manhattan, New York.
On November 8, 2019, the Company completed the acquisition of 1010 Pacific Street located in the Prospect Heights neighborhood of Brooklyn, New York; the Company is currently redeveloping the property into a 175-unit residential building.
During the period December 2021 through February 2022, the Company purchased the Dean Street property which consists of multiple parcels of land in the Prospect Heights neighborhood of Brooklyn, New York; the Company plans to redevelop the property as a 240-unit residential building with two ground floor retail units.
As of December 31, 2021, the properties owned by the Company consist of the following (collectively, the “Properties”):
• Tribeca House in Manhattan, comprising two buildings, one with 21 stories and one with 12 stories, containing residential and retail space with an aggregate of approximately 483,000 square feet of residential rental Gross Leasable Area (“GLA”) and 77,000 square feet of retail rental and parking GLA;
• Flatbush Gardens in Brooklyn, a 59-building residential housing complex with 2,494 rentable units;
• 141 Livingston Street in Brooklyn, a 15-story office building with approximately 216,000 square feet of GLA;
• 250 Livingston Street in Brooklyn, a 12-story office and residential building with approximately 370,000 square feet of GLA (fully remeasured);
• Aspen in Manhattan, a 7-story building containing residential and retail space with approximately 166,000 square feet of residential rental GLA and approximately 21,000 square feet of retail rental GLA;
• Clover House in Brooklyn, a 11-story residential building with approximately 102,000 square feet of residential rental GLA;
• 10 West 65 th Street in Manhattan, a 6-story residential building with approximately 76,000 square feet of residential rental GLA; and
• 1010 Pacific Street in Brooklyn, which the Company is developing into a 9-story residential building with approximately 119,000 square feet of residential rental GLA.
• Dean Street in Brooklyn, which the Company pl
Free historical financial statements for Clipper Realty Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 28 quarters since 2017. Compare with CLPR stock chart to see long term trends.
Data imported from Clipper Realty Inc SEC filings. Check original filings before making any investment decision.