Clipper Realty sells 10 West 65th St for $45.5M, expects $32-34M impairment

Clipper Realty Inc.

Subsidiary entered Purchase and Sale Agreement for $45.5M; $4.6M deposit in escrow.
Transaction expected to close within 30-60 days; $2.0M in closing costs anticipated.
Company expects to repay $31.2M mortgage and retain ~$12.0M cash from sale.
Q1 2025 results to include $32-34M impairment on investment in real estate assets.

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