Clipper Realty Inc. Announces First Quarter 2026 Results
Clipper Realty reported Q1 2026 revenue of $38.1 million, down 3.3% year-over-year, driven by a 39% drop in commercial revenue following the termination of the New York City lease at its 250 Livingston Street office property. While GAAP net loss improved significantly to $11.1 million from $35.1 million a year ago, this was primarily due to the absence of a $33.8 million impairment charge recorded in the prior year for the sold 10 West 65th Street property. Core operational cash flow, measured by AFFO, declined 71% to $2.3 million from $8.0 million.
Key figures
- Eps Beat
- 0
- Revenue
- 38115000
- Noi
- 20011000
- Affo
- 2253000
- Total assets
- 1225996000
- Notes payable
- 1277956000
- Affo per share
- 0.05
- Cash and equivalents
- 26083000
- Income from operations
- 4402000
- Litigation settlement charge
- 3600000
AI analysis
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