Clipper Realty Inc. (CLPR): restructuring charge — 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.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Clipper Realty Inc. announced a impairment with charges of from approximately $32.0 million to approximately $34.0 million affecting the Property (10 West 65th Street, New York).

Type: impairment
Charge: from approximately $32.0 million to approximately $34.0 million
Affected area: the Property (10 West 65th Street, New York)

Exact text from the filing

The Company currently estimates that the range of such impairment charges for Investment in Real Estate assets could be from approximately $32.0 million to approximately $34.0 million.

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Clipper Realty Inc. filing history →

Source: SEC EDGAR

accession 0001437749-25-011420

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