---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-029998"
form_type: "8-K"
ticker: "CLPR"
cik: "0001649096"
company_name: "Clipper Realty Inc."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:30:16.684982+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Clipper Realty Q3 2023: record revenue $35.1M, AFFO $6.3M, net loss narrows to $2.3M

## Summary
- Record quarterly revenue $35.1M (+7.1% YoY); NOI $20.0M (record); AFFO $6.3M ($0.15/share).
- Net loss $2.3M ($0.07/share) vs $2.8M ($0.08/share) in Q3 2022; income from operations $9.2M.
- Same-store leased occupancy 98.4%; collection rate 98.0%; new leases up >12% over prior, renewals up ~7%.
- Declared dividend $0.095/share for Q3 2023; closed construction loan for Dean Street development.
- Flatbush Gardens Article 11 NYC transaction (tax abatement) to enhance rental recoveries.

## SEC filing metadata
- accession: 0001437749-23-029998
- form_type: 8-K
- ticker: CLPR
- cik: 0001649096
- company_name: Clipper Realty Inc.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649096/000143774923029998/0001437749-23-029998-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649096/000143774923029998/clpr20231101_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-029998
- JSON: https://secwatch.observer/filing/0001437749-23-029998.json
- Plain text: https://secwatch.observer/filing/0001437749-23-029998.txt

## Key facts
- Earnings Releases
  Clipper Realty Inc. reported three months ended September 30, 2023 results: revenue $35.1 million, net income net loss of $2.3 million, EPS $0.07 per share.
  - Period: three months ended September 30, 2023
  - Revenue: $35.1 million
  - Net income: net loss of $2.3 million
  - EPS: $0.07 per share
  - Result: reported results
  source text: Financial Results For the third quarter of 2023, revenues increased by $2.3 million, or 7.1%, to $35.1 million and $1.2 million, or 3.5% excluding revenue from Pacific House. This compares to revenue of $32.8 million during the third quarter of 2022. Residential revenue increased by $2.4 million, or 10.4%, and $1.2 million, or 5.3% excluding revenue from Pacific House in the third quarter of 2023 driven by higher rental rates at all our residential properties. Commercial income decreased $0.2 million, or 0.8%, in the third quarter of 2023 due to a small number of commercial leases that expired during 2023. For the third quarter of 2023, net loss was $2.3 million, or $0.07 per share or $1.6 million, or $0.03 per share excluding the net loss attributable to Pacific House operations, compared to net loss of $2.8 million, or $0.08 per share, for the third quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649096/000143774923029998/0001437749-23-029998-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.