Clipper Realty Q3 loss widens on NYC lease termination
CLPR•Clipper Realty’s Q3 revenue rose to $40.5 million, beating the $38.7 million estimate, while its net loss widened to $5.9 million, mainly due to a lease termination at 250 Livingston Street.
1. Quarterly results
Q3 revenue increased on higher residential rental rates and occupancy. Net loss widened to $5.9 million, and adjusted funds from operations fell from a year earlier to $4.1 million.
2. Lease termination impact
Clipper Realty said commercial revenue declined due to the lease termination at 250 Livingston Street, partly offset by new leases at Tribeca House and higher tax reimbursement at 141 Livingston. A full quarter of operations at Prospect House, which entered service in August 2025, supported residential revenue growth.
