---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-005917"
form_type: "8-K"
ticker: "CLPR"
cik: "0001649096"
company_name: "Clipper Realty Inc."
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T08:59:04.271623+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Clipper Realty's NYC tenant terminates 342,496 sq ft lease; $15.4M annual rent at risk

## Summary
- NYC notified Clipper Realty of intent to terminate lease at 240-250 Livingston Street effective August 23, 2025.
- Lease provides $15.4 million per annum in rent; company may be unable to replace tenant at comparable rates.
- Building is encumbered by $125.0M mortgage note (3.63% interest, maturity June 6, 2029) with Citi Real Estate Funding Inc.
- Company expects to establish cash management account for lender under loan agreement following lease termination.
- Potential adverse effects on financial condition, results of operations, and cash flow if space not re-leased on favorable terms.

## SEC filing metadata
- accession: 0001437749-24-005917
- form_type: 8-K
- ticker: CLPR
- cik: 0001649096
- company_name: Clipper Realty Inc.
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649096/000143774924005917/0001437749-24-005917-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649096/000143774924005917/clpr20240228_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-005917
- JSON: https://secwatch.observer/filing/0001437749-24-005917.json
- Plain text: https://secwatch.observer/filing/0001437749-24-005917.txt

## Key facts
- Material Agreements
  Clipper Realty Inc. terminated Lease with The City of New York valued at $15.4 million per annum (effective 2025-08-23).
  - Action: termination
  - Agreement: lease
  - Counterparty: The City of New York
  - Value: $15.4 million per annum
  - Effective: 2025-08-23
  source text: Clipper Realty Inc, (the “Company”), through its subsidiary 250 Livingston Owner LLC (“250 Livingston Owner”), leases to The City of New York, a municipal corporation acting through the Department of Citywide Administrative Services (“NYC”), 342,496 square feet of office space located at 240-250 Livingston Street, Brooklyn, NY (the “Building”), pursuant to a lease agreement dated as of May 8, 2019 (the “Lease”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649096/000143774924005917/0001437749-24-005917-index.htm

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