---
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"
generated_at: "2026-05-16T12:15:58.885493+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Clipper Realty subsidiary in default on $125M loan; foreclosure threatened; $3.4M owed

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04, 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-038702
- JSON: https://secwatch.observer/filing/0001437749-25-038702.json
- Plain text: https://secwatch.observer/filing/0001437749-25-038702.txt

## Key facts
- Debt Financings
  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.
  - Instrument: loan
  - Principal: $125.0 million
  - Counterparty: Wilmington Trust, NA, as trustee for the holders of GSMS 2019-GC40 Mortgage Trust Commercial Pass-Through Certificates
  - Rate: 3.63%
  - Maturity: June 6, 2029
  - Event: acceleration
  source text: “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_url: https://www.sec.gov/Archives/edgar/data/1649096/000143774925038702/0001437749-25-038702-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.