{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-038702","form_type":"8-K","ticker":"CLPR","cik":"0001649096","company_name":"Clipper Realty Inc.","filed_at":"2025-12-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.041534+00:00","generated_at":"2026-05-16T12:15:58.885493+00:00","sec_items":["2.04","8.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Clipper Realty subsidiary in default on $125M loan; foreclosure threatened; $3.4M owed","bullets":["250 Livingston subsidiary received default notice on $125M loan; owed ~$3.4M in interest/default interest as of Dec 22, 2025.","Lender may seek foreclosure; company negotiating Consent and Cooperation Agreement for sale of property but no assurance.","For 141 Livingston property, company anticipates settling litigation: will provide $10M letter of credit and pay up to $3M fees.","Lender would waive penalties, dismiss foreclosure, approve 5-year lease extension with NYC tenant effective Dec 28, 2025.","No assurance either agreement consummated; company faces significant liquidity risk."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-038702","json":"https://secwatch.observer/filing/0001437749-25-038702.json","markdown":"https://secwatch.observer/filing/0001437749-25-038702.md","text":"https://secwatch.observer/filing/0001437749-25-038702.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1649096/000143774925038702/0001437749-25-038702-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1649096/000143774925038702/clpr20251219_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:15:58.885493+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"10f5a1597fa3e9636b7a5faeaa24a9ed7466011c","claim":"Clipper Realty Inc. faced acceleration on loan of $125.0 million with Wilmington Trust, NA, as trustee for the holders of GSMS 2019-GC40 Mortgage Trust Commercial Pass-Through Certificates at 3.63% maturing June 6, 2029.","evidence_excerpt":"“Company”), entered into the Loan Agreement, dated as of May 31, 2019 (the “Loan Agreement”), with Citi Real Estate Funding Inc., related to a loan in the principal amount of $125.0 million (the “Loan”). The Loan is evidenced by certain promissory notes (the “Notes”) and secured by the Company’s 250 Livingston Street property in Brooklyn, New York (the “Property”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1649096/000143774925038702/0001437749-25-038702-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$125.0 million"},{"label":"Counterparty","value":"Wilmington Trust, NA, as trustee for the holders of GSMS 2019-GC40 Mortgage Trust Commercial Pass-Through Certificates"},{"label":"Rate","value":"3.63%"},{"label":"Maturity","value":"June 6, 2029"},{"label":"Event","value":"acceleration"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}