Clipper Realty reports Q3 2024 record revenue $37.6M, net loss narrows to $1.1M

Clipper Realty Inc.

Q3 2024 revenue $37.6M (+6.8% YoY); record NOI $21.8M; AFFO $7.8M ($0.18/share).
Net loss $(1.1)M ($0.05/sh) vs $(2.3)M ($0.09/sh) in Q3 2023; lower loss on higher rental revenue.
Residential revenue up 9.2% on higher rents; new leases exceeded prior rents by nearly 10%, renewals by ~6%.
CEO notes Flatbush Gardens Article 11 rental recoveries; 250 Livingston NYC vacate notice in Aug 2025; 141 Livingston renewal discussions.
Marketing properties including 10W 65th St for potential sale (may result in loss vs book value); Dean St development on schedule for 2025.

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