Q4 2025 Clipper Realty Inc Earnings Call Transcript
Key Points
- Residential properties are performing well with high rental demand, generating excellent cash flow.
- New leases exceeded prior rents by nearly 13%, indicating strong leasing performance.
- Prospect House development was completed on time and on budget, with 78% of units leased.
- Residential properties are nearly fully leased, with occupancy rates around 99%.
- Rent collections across the portfolio remain strong, with an overall collection rate of approximately 98%.
- Revenues decreased by $0.9 million compared to last year, primarily due to the termination of the New York City lease at 250 Livingston Street.
- Net Operating Income (NOI) decreased by $1.9 million compared to last year.
- Adjusted Funds From Operations (AFFO) decreased by $6.4 million compared to last year.
- The termination of the New York City lease at 250 Livingston Street resulted in a $4.0 million revenue decrease.
- The company is facing challenges with the 250 Livingston Street property, including restructuring property debt and ceasing payments of interest and real estate taxes.
(audio in progress) Welcome to the Clipper Realty Q4 earnings call.
(Operator Instructions)
It is now my pleasure to turn the floor over to your host, Lawrence Sava, Corporate Controller. Sir, the floor is yours.
Good afternoon and thank you for joining us for the fourth-quarter 2025 Clipper Realty, Inc., earnings conference call.
Participating with me on today's call are David Bistricer, Co-Chairman of the Board and Chief Executive Officer; JJ Bistricer, Chief Operating Officer; and Larry Kreider, Chief Financial Officer.
Please be aware that statements made during the call that are not historical may be deemed forward-looking statements; and actual results may differ materially from those indicated by such forward-looking statements.
These statements are subject to numerous risks and uncertainties, including those disclosed in the company's 2025 annual report on Form 10-K just filed today, which is accessible at
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