secwatch.observer — SEC 8-K summary
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Issuer:     Clipper Realty Inc. (CLPR)
CIK:        0001649096
Form:       8-K
Filed at:   2025-06-05T23:59:59+00:00
Accession:  0001437749-25-019578
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.02, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clipper Realty completes sale of NYC property for $45.5M, repays $31.2M mortgage
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- Gross sale price $45.5M; after closing costs (~$1.9M) and mortgage payoff ($31.2M + $0.8M interest), net cash proceeds ~$13.8M.
- Property at 10 West 65th St sold to unaffiliated buyer; mortgage to Flagstar Bank fully repaid without penalty.
- Pro forma financials show annual revenue reduced by ~$4.1M and operating expenses by ~$3.4M (based on 2024 data).
- Sale generated a pro forma loss on disposition of $0.5M; net loss per share improves from ($0.25) to ($0.20) for FY 2024.
- Company received $1.1M in previously deposited property tax escrow and debt reserves upon mortgage release.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649096/000143774925019578/0001437749-25-019578-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649096/000143774925019578/clpr20250605_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-019578

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