Clipper Realty Inc(NYSE:CLPR) 
Clipper Realty Inc. (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.
Website: http://www.clipperrealty.com
Founded: 2015
Full Time Employees: 198
Sector: Real Estate
Industry: REIT-Diversified
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2018-12-31 | 2018-09-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | |||||||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||||
qoq | |||||||||||||||||||||||||||||
residential rental income | 29,773,000 | 29,054,000 | 29,190,000 | 28,173,000 | 27,846,000 | 27,748,000 | 25,040,000 | 23,940,000 | 21,462,000 | 21,253,000 | 21,341,000 | 21,573,000 | 21,604,000 | 21,198,000 | 21,948,000 | 23,679,000 | 23,718,000 | 23,351,000 | 22,117,000 | 21,146,000 | 20,217,000 | 20,180,000 | 19,298,000 | 18,993,000 | 18,558,000 | 18,079,000 | 18,037,000 | ||
commercial rental income | 7,925,000 | 9,982,000 | 10,208,000 | 9,874,000 | 9,776,000 | 9,598,000 | 9,503,000 | 9,727,000 | 10,588,000 | 9,523,000 | 9,290,000 | 9,098,000 | 9,047,000 | 10,426,000 | 7,663,000 | 7,050,000 | 7,168,000 | 7,276,000 | 7,323,000 | 7,300,000 | |||||||||
total revenues | 37,698,000 | 39,036,000 | 39,398,000 | 38,047,000 | 37,622,000 | 37,346,000 | 34,543,000 | 33,667,000 | 32,050,000 | 30,776,000 | 30,631,000 | 30,671,000 | 30,651,000 | 31,624,000 | 29,611,000 | 30,729,000 | 30,886,000 | 30,627,000 | 29,440,000 | 28,446,000 | 27,881,000 | 27,948,000 | 26,868,000 | 27,323,000 | 26,008,000 | 25,358,000 | 25,263,000 | ||
operating expenses | |||||||||||||||||||||||||||||
property operating expenses | 9,215,000 | 9,561,000 | 10,111,000 | 8,065,000 | 8,482,000 | 8,996,000 | 6,782,000 | 8,099,000 | 7,539,000 | 6,450,000 | 6,684,000 | 7,221,000 | 8,642,000 | 8,008,000 | 7,867,000 | 6,868,000 | 7,159,000 | 7,220,000 | 7,357,000 | 6,747,000 | 6,624,000 | 6,806,000 | 7,256,000 | 6,841,000 | 6,519,000 | 6,564,000 | 7,105,000 | ||
real estate taxes and insurance | 7,894,000 | 7,518,000 | 7,627,000 | 7,633,000 | 7,562,000 | 7,438,000 | 8,700,000 | 8,536,000 | 7,931,000 | 7,921,000 | 7,853,000 | 7,363,000 | 7,312,000 | 7,181,000 | 7,463,000 | 6,778,000 | 6,864,000 | 6,788,000 | 6,740,000 | 5,707,000 | 5,759,000 | 5,824,000 | 5,348,000 | 5,680,000 | 5,536,000 | 4,817,000 | 4,652,000 | ||
general and administrative | 3,697,000 | 3,819,000 | 3,825,000 | 3,772,000 | 3,370,000 | 3,459,000 | 3,396,000 | 3,293,000 | 2,942,000 | 2,791,000 | 2,684,000 | 2,802,000 | 2,293,000 | 2,404,000 | 2,407,000 | 2,594,000 | 2,323,000 | 3,016,000 | 1,904,000 | 2,579,000 | 2,271,000 | 1,858,000 | 3,138,000 | 2,659,000 | 2,501,000 | 2,588,000 | 2,196,000 | ||
transaction pursuit costs | 10,000 | -10,000 | 357,000 | 424,000 | 60,000 | ||||||||||||||||||||||||
depreciation and amortization | 7,997,000 | 7,314,000 | 7,636,000 | 7,603,000 | 7,456,000 | 7,455,000 | 7,269,000 | 6,825,000 | 6,705,000 | 6,794,000 | 6,452,000 | 6,289,000 | 6,227,000 | 6,266,000 | 5,934,000 | 5,872,000 | 5,558,000 | 5,581,000 | 4,929,000 | 4,590,000 | 4,623,000 | 4,351,000 | 4,596,000 | 4,637,000 | 4,086,000 | 4,063,000 | 3,935,000 | ||
loss on impairment of long-lived assets | |||||||||||||||||||||||||||||
total operating expenses | 28,813,000 | 28,202,000 | 62,979,000 | 27,073,000 | 26,870,000 | 27,348,000 | 26,504,000 | 26,753,000 | 25,541,000 | 23,956,000 | 23,673,000 | 23,675,000 | 24,534,000 | 23,859,000 | 23,671,000 | 22,112,000 | 21,904,000 | 22,605,000 | 20,930,000 | 19,623,000 | 19,378,000 | 18,839,000 | 20,338,000 | 19,849,000 | 18,652,000 | 18,038,000 | 17,909,000 | ||
litigation settlement and other | -26,000 | ||||||||||||||||||||||||||||
income (loss) from operations | 8,885,000 | 10,808,000 | |||||||||||||||||||||||||||
loss on disposal of long-lived assets | -172,000 | -685,000 | |||||||||||||||||||||||||||
interest expense | -13,320,000 | -11,479,000 | -11,522,000 | -11,791,000 | -11,840,000 | -11,741,000 | -11,334,000 | -10,135,000 | -9,985,000 | -10,326,000 | -10,375,000 | -10,366,000 | -10,217,000 | -10,254,000 | -10,207,000 | -9,979,000 | -9,788,000 | -10,011,000 | -8,692,000 | -8,210,000 | -8,178,000 | -8,052,000 | -8,543,000 | -8,997,000 | -8,925,000 | -8,931,000 | -8,652,000 | ||
net income | -4,607,000 | -1,356,000 | -35,103,000 | -1,086,000 | -1,088,000 | -1,743,000 | -3,295,000 | -7,089,000 | -3,476,000 | -6,236,000 | -3,417,000 | -3,231,000 | -7,134,000 | -2,489,000 | -3,429,000 | -5,505,000 | -806,000 | -2,650,000 | -182,000 | -1,158,000 | -1,566,000 | 1,251,000 | -8,994,000 | -1,523,000 | -1,569,000 | -1,611,000 | -1,298,000 | ||
yoy | 323.44% | -22.20% | 965.34% | -84.68% | -49.86% | -47.16% | 107.46% | -51.28% | 150.54% | -0.35% | -41.31% | 785.11% | -6.08% | 1784.07% | 375.39% | -48.53% | -311.83% | -97.98% | -23.97% | -0.19% | -177.65% | 592.91% | |||||||
qoq | 239.75% | -96.14% | 3132.32% | -0.18% | -37.58% | -47.10% | -53.52% | -44.26% | 82.50% | 5.76% | -54.71% | 186.62% | -27.41% | -37.71% | 583.00% | -69.58% | 1356.04% | -84.28% | -26.05% | -225.18% | -113.91% | 490.54% | -2.93% | -2.61% | 24.11% | ||||
net income margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | |
net loss attributable to non-controlling interests | 2,856,000 | 840,000 | 21,756,000 | 668,000 | 676,000 | 1,083,000 | 2,046,000 | 4,402,000 | 2,158,000 | 3,873,000 | 2,122,000 | 2,006,000 | 4,430,000 | 1,515,000 | 2,045,000 | 3,283,000 | 480,000 | 1,579,000 | 109,000 | 691,000 | 934,000 | -746,000 | 5,364,000 | 908,000 | 938,000 | 965,000 | 833,000 | ||
net loss attributable to common stockholders | -1,751,000 | -516,000 | -13,347,000 | -418,000 | -412,000 | -660,000 | -1,249,000 | -2,687,000 | -1,318,000 | -2,363,000 | -1,295,000 | -1,225,000 | -2,704,000 | -974,000 | -1,384,000 | -2,222,000 | -326,000 | -3,630,000 | -615,000 | -631,000 | -650,000 | -469,000 | |||||||
basic and diluted net loss per share | -0.14 | -0.07 | -0.86 | -0.05 | -0.05 | -0.06 | -0.1 | -0.19 | -0.09 | -0.15 | -0.09 | -0.09 | -0.18 | -0.07 | -0.09 | -0.13 | -0.02 | -0.03 | -0.21 | -0.04 | -0.04 | ||||||||
revenues | |||||||||||||||||||||||||||||
loss on impairment of long-lived asset | 33,780,000 | ||||||||||||||||||||||||||||
income from operations | -23,581,000 | 10,705,000 | 10,752,000 | 9,998,000 | 8,039,000 | 6,914,000 | 6,509,000 | 4,090,000 | 6,958,000 | 6,996,000 | 6,117,000 | 7,765,000 | 6,778,000 | 8,617,000 | 8,982,000 | 8,022,000 | 8,510,000 | 8,823,000 | 8,503,000 | 9,109,000 | 6,530,000 | 7,474,000 | 7,356,000 | 7,320,000 | 7,354,000 | ||||
yoy | -393.33% | 54.83% | 53.60% | 96.55% | -0.63% | 6.41% | -47.33% | 2.66% | -18.81% | -31.90% | -3.20% | -20.35% | -2.33% | 5.63% | -11.93% | 30.32% | 18.05% | 15.59% | 24.44% | -11.20% | |||||||||
qoq | -320.28% | -0.44% | 7.54% | 24.37% | 16.27% | 59.14% | -41.22% | -0.54% | 14.37% | -21.22% | 14.56% | -21.34% | -4.06% | 11.97% | -5.73% | -3.55% | 3.76% | -6.65% | 39.49% | -12.63% | 1.60% | 0.49% | -0.46% | ||||||
operating margin % | NaN% | NaN% | -Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | |
loss on extinguishment of debt | -3,868,000 | -758,500 | -3,034,000 | -661,000 | -1,771,000 | -1,891,000 | -6,981,000 | ||||||||||||||||||||||
gain on termination of lease | 838,000 | ||||||||||||||||||||||||||||
gain on involuntary conversion | 139,000 | 85,000 | 194,000 | ||||||||||||||||||||||||||
loss on modification/extinguishment of debt | -4,228,000 | ||||||||||||||||||||||||||||
net income attributable to common stockholders | -148,500 | -73,000 | -467,000 | ||||||||||||||||||||||||||
basic and diluted net income per share | -0.013 | -0.01 | -0.045 | 0.02 | |||||||||||||||||||||||||
commercial income | 5,379,000 | 5,377,000 | 5,377,000 | 5,496,000 | 5,476,000 | 5,471,000 | 5,471,000 | ||||||||||||||||||||||
tenant recoveries | 1,216,000 | 1,294,000 | 1,174,000 | 1,879,000 | 1,162,000 | 1,017,000 | 1,044,000 | ||||||||||||||||||||||
garage and other income | 1,069,000 | 1,097,000 | 1,019,000 | 955,000 | 812,000 | 791,000 | 711,000 | ||||||||||||||||||||||
acquisition costs | 32,000 | 10,000 | 6,000 | 21,000 | |||||||||||||||||||||||||
dividends attributable to preferred shares | -4,000 | -4,000 | |||||||||||||||||||||||||||
net income (loss) attributable to common stockholders | -750,250 | 505,000 | |||||||||||||||||||||||||||
less: | |||||||||||||||||||||||||||||
basic and diluted loss per share | -0.04 | -0.03 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-03-31 | 2024-12-31 | 2024-06-30 | 2023-06-30 | 2023-03-31 | 2022-03-31 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-06-30 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2018-12-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||
investment in real estate | 1,154,151,000 | 1,154,283,000 | 1,228,528,000 | 1,217,571,000 | 1,174,653,000 | 1,175,477,000 | 1,155,538,000 | 1,089,934,000 | 1,089,869,000 | 1,090,498,000 | 1,083,751,000 | 1,081,119,000 | 1,049,211,000 | 1,040,985,000 | 1,025,737,000 | 996,892,000 | 914,780,000 | 912,264,000 | 823,077,000 |
land and improvements | 559,419,000 | 508,311,000 | 571,988,000 | 571,988,000 | 571,988,000 | 540,859,000 | 540,859,000 | 540,859,000 | 540,859,000 | 540,859,000 | 540,859,000 | 540,859,000 | 497,343,000 | 433,666,000 | 433,666,000 | ||||
building and improvements | 836,324,000 | 718,748,000 | 736,420,000 | 732,917,000 | 718,661,000 | 659,109,000 | 651,437,000 | 637,772,000 | 634,502,000 | 613,983,000 | 607,353,000 | 597,600,000 | 489,383,000 | 445,482,000 | 442,395,000 | ||||
tenant improvements | 3,386,000 | 3,348,000 | 3,366,000 | 3,366,000 | 3,406,000 | 3,406,000 | 3,406,000 | 3,406,000 | 3,243,000 | 3,051,000 | 3,051,000 | 3,051,000 | 3,051,000 | 3,003,000 | 3,001,000 | ||||
furniture, fixtures and equipment | 13,643,000 | 13,439,000 | 13,897,000 | 13,616,000 | 13,062,000 | 12,964,000 | 12,582,000 | 12,356,000 | 12,278,000 | 12,001,000 | 11,865,000 | 11,659,000 | 11,364,000 | 9,758,000 | 9,601,000 | ||||
real estate under development | 153,799,000 | 146,249,000 | 124,071,000 | 66,361,000 | 150,719,000 | 111,902,000 | 40,411,000 | 37,637,000 | 34,331,000 | 32,894,000 | 139,061,000 | 92,441,000 | 89,313,000 | ||||||
total investment in real estate | 1,412,772,000 | 1,397,645,000 | 1,471,920,000 | 1,445,958,000 | 1,373,478,000 | 1,367,057,000 | 1,320,186,000 | 1,234,804,000 | 1,228,519,000 | 1,204,225,000 | 1,196,022,000 | 1,153,169,000 | 1,140,202,000 | 984,350,000 | 977,976,000 | ||||
accumulated depreciation | -258,621,000 | -243,362,000 | -243,392,000 | -228,387,000 | -198,825,000 | -191,580,000 | -164,648,000 | -144,870,000 | -138,650,000 | -120,474,000 | -114,903,000 | -103,958,000 | -99,217,000 | -69,570,000 | -65,712,000 | ||||
cash and cash equivalents | 26,052,000 | 21,288,000 | 19,896,000 | 20,254,000 | 16,342,000 | 18,801,000 | 25,342,000 | 85,035,000 | 87,952,000 | 72,058,000 | 88,253,000 | 36,298,000 | 43,552,000 | 56,349,000 | 37,028,000 | 7,940,000 | 54,769,000 | 68,484,000 | 37,547,000 |
restricted cash | 30,593,000 | 17,823,000 | 18,156,000 | 16,490,000 | 14,731,000 | 19,023,000 | 18,493,000 | 13,258,000 | 18,244,000 | 16,974,000 | 28,047,000 | 17,572,000 | 17,084,000 | 16,455,000 | 8,836,000 | 13,730,000 | 17,799,000 | 13,395,000 | 11,105,000 |
tenant and other receivables, net of allowance for doubtful accounts of 320 and 258, respectively | 7,551,000 | ||||||||||||||||||
deferred rent | 2,002,000 | 2,086,000 | 2,108,000 | 2,273,000 | 2,546,000 | 2,138,000 | 2,599,000 | 2,507,000 | 2,455,000 | 881,000 | 1,073,000 | 1,485,000 | 1,669,000 | 3,588,000 | 3,669,000 | ||||
deferred costs and intangible assets | 5,445,000 | 5,560,000 | 5,676,000 | 5,903,000 | 6,418,000 | 6,532,000 | 6,966,000 | 7,391,000 | 7,568,000 | 8,199,000 | 8,560,000 | 9,053,000 | 9,373,000 | 12,046,000 | 12,682,000 | ||||
prepaid expenses and other assets | 12,172,000 | 8,166,000 | 6,236,000 | 6,275,000 | 5,960,000 | 10,659,000 | 12,765,000 | 9,087,000 | 8,975,000 | 13,471,000 | 8,581,000 | 12,954,000 | 13,193,000 | 15,201,000 | 12,330,000 | ||||
total assets | 1,237,966,000 | 1,262,083,000 | 1,286,965,000 | 1,274,602,000 | 1,225,819,000 | 1,237,398,000 | 1,226,779,000 | 1,213,865,000 | 1,223,406,000 | 1,207,866,000 | 1,230,449,000 | 1,157,953,000 | 1,138,318,000 | 1,141,382,000 | 1,101,008,000 | 1,052,085,000 | 1,023,389,000 | 1,027,395,000 | 905,208,000 |
liabilities and equity | |||||||||||||||||||
liabilities: | |||||||||||||||||||
notes payable, net of unamortized loan costs of 8,070 and 9,019, respectively | 1,273,088,000 | ||||||||||||||||||
accounts payable and accrued liabilities | 14,008,000 | 19,649,000 | 18,731,000 | 19,802,000 | 15,319,000 | 13,938,000 | 17,230,000 | 11,169,000 | 12,492,000 | 10,699,000 | 9,793,000 | 12,252,000 | 12,711,000 | 7,415,000 | 6,018,000 | ||||
security deposits | 9,439,000 | 8,800,000 | 9,067,000 | 9,109,000 | 8,660,000 | 8,230,000 | 7,199,000 | 6,970,000 | 6,989,000 | 7,576,000 | 7,637,000 | 7,569,000 | 7,035,000 | 6,501,000 | 6,562,000 | ||||
other liabilities | 7,271,000 | 12,646,000 | 7,057,000 | 6,247,000 | 5,353,000 | 10,803,000 | 6,534,000 | 4,449,000 | 6,045,000 | 3,560,000 | 4,416,000 | 5,141,000 | 3,751,000 | 3,671,000 | 2,982,000 | ||||
total liabilities | 1,303,806,000 | 1,314,887,000 | 1,301,195,000 | 1,279,294,000 | 1,206,289,000 | 1,211,008,000 | 1,170,045,000 | 1,127,217,000 | 1,130,131,000 | 1,103,752,000 | 1,102,879,000 | 1,021,094,000 | 989,934,000 | 988,866,000 | 939,523,000 | 866,494,000 | 833,153,000 | 832,049,000 | 778,992,000 |
equity | |||||||||||||||||||
preferred stock, 0.01 par value... | |||||||||||||||||||
common stock, 0.01 par value... | 160,000 | 160,000 | 160,000 | 160,000 | 160,000 | 160,000 | 160,000 | 160,000 | 160,000 | 178,000 | 178,000 | 178,000 | 178,000 | 178,000 | 178,000 | ||||
additional paid-in-capital | 90,531,000 | 90,152,000 | 89,938,000 | 89,685,000 | 89,127,000 | 88,952,000 | 88,215,000 | 87,707,000 | 87,469,000 | 93,626,000 | 93,461,000 | 93,332,000 | 93,235,000 | 91,841,000 | 91,579,000 | ||||
accumulated deficit | -115,723,000 | -110,388,000 | -95,507,000 | -91,623,000 | -81,883,000 | -79,108,000 | -66,871,000 | -55,026,000 | -52,275,000 | -42,307,000 | -38,393,000 | -33,612,000 | -31,847,000 | -15,232,000 | -12,909,000 | ||||
total stockholders’ equity | -25,032,000 | -20,076,000 | -5,409,000 | -1,778,000 | 7,404,000 | 10,004,000 | 21,504,000 | 32,841,000 | 35,354,000 | 51,497,000 | 55,246,000 | 59,898,000 | 61,566,000 | 76,787,000 | 78,848,000 | ||||
non-controlling interests | -40,808,000 | -32,728,000 | -8,821,000 | -2,914,000 | 12,126,000 | 16,386,000 | 35,230,000 | 53,807,000 | 57,921,000 | 76,073,000 | 81,613,000 | 88,486,000 | 90,950,000 | 113,449,000 | 116,498,000 | ||||
total equity | -65,840,000 | -52,804,000 | -14,230,000 | -4,692,000 | 19,530,000 | 26,390,000 | 56,734,000 | 86,648,000 | 93,275,000 | 104,114,000 | 127,570,000 | 136,859,000 | 148,384,000 | 152,516,000 | 161,485,000 | 185,591,000 | 190,236,000 | 195,346,000 | 126,216,000 |
total liabilities and equity | 1,237,966,000 | 1,262,083,000 | 1,286,965,000 | 1,274,602,000 | 1,225,819,000 | 1,237,398,000 | 1,226,779,000 | 1,213,865,000 | 1,223,406,000 | 1,230,449,000 | 1,157,953,000 | 1,138,318,000 | 1,141,382,000 | 1,023,389,000 | 1,027,395,000 | ||||
tenant and other receivables, net of allowance for doubtful accounts of 246 and 258, respectively | 6,974,000 | ||||||||||||||||||
assets held for sale | 45,903,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 8,245 and 9,019, respectively | 1,272,906,000 | ||||||||||||||||||
liabilities held for sale | 886,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 258 and 234, respectively | 6,365,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 9,019 and 13,405, respectively | 1,266,340,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 250 and 234, respectively | 5,836,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 11,212 and 13,405, respectively | 1,244,136,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 175 and 321, respectively | 5,169,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 9,803 and 9,650, respectively | 1,176,956,000 | ||||||||||||||||||
below-market leases | 1,000 | 10,000 | 44,000 | 94,000 | 126,000 | 1,367,000 | 1,496,000 | 1,754,000 | 2,034,000 | 5,522,000 | 5,968,000 | ||||||||
equity: | |||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 200 and 321, respectively | 4,768,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 9,240 and 9,650, respectively | 1,178,027,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 179 and 7,905, respectively | 5,076,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 12,077 and 12,898, respectively | 1,139,038,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 8,116 and 5,993, respectively | 6,653,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 10,387 and 10,262, respectively | 1,104,535,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 7,199 and 5,993, respectively | 8,343,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 10,713 and 10,262, respectively | 1,104,479,000 | ||||||||||||||||||
balance sheet data | |||||||||||||||||||
notes payable, net of unamortized debt costs | 1,079,458,000 | 913,564,000 | 843,946,000 | 754,459,000 | |||||||||||||||
stockholders’ equity | 39,462,000 | 65,182,000 | 74,912,000 | 38,201,000 | |||||||||||||||
property-related data | |||||||||||||||||||
residential property rentable square feet | |||||||||||||||||||
flatbush gardens | 1,746,000 | 1,749,000 | 1,734,000 | 1,734,000 | |||||||||||||||
% leased | 94,700 | 98,400 | 97,100 | ||||||||||||||||
tribeca house | 483,000 | 483,000 | 482,000 | ||||||||||||||||
250 livingston street | 27,000 | 27,000 | 27,000 | 27,000 | |||||||||||||||
aspen | 166,000 | 166,000 | 166,000 | ||||||||||||||||
10 west 65th street | 76,000 | 76,000 | 75,000 | ||||||||||||||||
clover house | 102,000 | ||||||||||||||||||
commercial and retail property rentable square feet 141 livingston street | 216,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 4,309 and 3,361, respectively | 7,847,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 11,380 and 11,528, respectively | 1,079,677,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 3,692 and 3,361, respectively | 4,750,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 10,958 and 11,528, respectively | 997,752,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 3,162 and 2,624, respectively | 4,979,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 10,268 and 12,049, respectively | 963,218,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 2,930 and 2,624, respectively | 3,358,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 10,862 and 12,049, respectively | 963,335,000 | ||||||||||||||||||
commercial and retail property rentable square feet | |||||||||||||||||||
141 livingston street | 216,000 | 216,000 | 216,000 | ||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 2,115 and 2,768, respectively | 5,206,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 11,351 and 10,134, respectively | 810,044,000 | ||||||||||||||||||
tenant and other receivables, net of allowance for doubtful accounts of 2,109 and 2,768, respectively | 4,571,000 | ||||||||||||||||||
notes payable, net of unamortized loan costs of 12,393 and 10,134, respectively | 810,519,000 | ||||||||||||||||||
property related data | |||||||||||||||||||
% occupied | 96,900 | ||||||||||||||||||
tribeca house properties | 481,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-03-31 | 2023-06-30 | 2023-03-31 | 2021-06-30 | 2021-03-31 | 2020-03-31 | 2019-09-30 | 2017-12-31 | 2017-09-30 |
|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||
net loss | -35,103,000 | -3,295,000 | -7,089,000 | -3,231,000 | -7,134,000 | -806,000 | -182,000 | -1,523,000 | -1,569,000 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||
depreciation | 7,611,000 | 7,245,000 | 6,799,000 | 6,233,000 | 6,171,000 | 5,485,000 | 4,741,000 | 4,144,000 | 3,858,000 |
amortization of deferred financing costs | 457,000 | 362,000 | 313,000 | 313,000 | 308,000 | 304,000 | 335,000 | 736,000 | 721,000 |
amortization of deferred costs and intangible assets | 146,000 | 146,000 | 146,000 | 177,000 | 176,000 | 192,000 | 310,000 | 886,000 | 621,000 |
loss on impairment of long-lived assets | |||||||||
loss on disposal of long-lived assets | |||||||||
deferred rent | 22,000 | -408,000 | 435,000 | -52,000 | -1,000 | 201,000 | 184,000 | 74,000 | 81,000 |
stock-based compensation | 1,143,000 | 783,000 | 648,000 | 795,000 | 486,000 | 158,000 | 325,000 | 842,000 | 839,000 |
bad debt (recovery) expense | -13,000 | -21,000 | -121,000 | ||||||
changes in operating assets and liabilities: | |||||||||
tenant and other receivables | -693,000 | -376,000 | 358,000 | 940,000 | -2,519,000 | -563,000 | -1,621,000 | -1,363,000 | |
prepaid expenses, other assets and deferred costs | -2,149,000 | 4,667,000 | 2,941,000 | -112,000 | 2,101,000 | 5,918,000 | 1,769,000 | -4,380,000 | 3,053,000 |
accounts payable and accrued liabilities | 297,000 | 1,377,000 | -1,801,000 | -2,608,000 | 2,986,000 | -1,926,000 | 412,000 | 760,000 | 899,000 |
security deposits | 64,000 | 430,000 | 290,000 | -19,000 | 6,000 | 67,000 | 534,000 | -453,000 | -61,000 |
other liabilities | 1,114,000 | -1,102,000 | 643,000 | -1,596,000 | 616,000 | 119,000 | 1,390,000 | -841,000 | 689,000 |
net cash from operating activities | 6,676,000 | 9,800,000 | 7,421,000 | 1,569,000 | 7,437,000 | 9,050,000 | 7,947,000 | 2,421,000 | 3,691,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 6,676,000 | 9,800,000 | 7,421,000 | 1,569,000 | 7,437,000 | 9,050,000 | 7,947,000 | 2,421,000 | 3,691,000 |
cash flows from investing activities | |||||||||
additions to land, buildings, and improvements | -9,680,000 | -6,421,000 | -12,494,000 | -5,011,000 | -7,745,000 | -7,101,000 | -13,579,000 | -6,172,000 | -5,526,000 |
proceeds from sale of real estate | |||||||||
purchase of interest rate caps | |||||||||
net cash provided (used) in investing activities | |||||||||
cash flows from financing activities | |||||||||
payments of mortgage notes | -578,000 | -509,000 | -46,301,000 | -527,000 | -74,776,000 | -897,000 | -711,000 | -1,350,000 | |
proceeds from mortgage notes | 6,371,000 | 0 | 62,330,000 | 257,000 | 100,248,000 | 176,000 | 0 | 35,070,000 | |
dividends and distributions | -4,191,000 | -4,191,000 | -4,276,000 | -4,275,000 | -4,255,000 | -4,254,000 | |||
loan issuance and extinguishment costs | -925,000 | -3,798,000 | 0 | -3,809,000 | 0 | ||||
net cash provided (used) by financing activities | |||||||||
net increase in cash and cash equivalents and restricted cash | -6,751,000 | 7,158,000 | -7,903,000 | 17,164,000 | -12,168,000 | ||||
cash and cash equivalents and restricted cash - beginning of period | 38,052,000 | 0 | 30,666,000 | 0 | 89,032,000 | 56,932,000 | 0 | ||
cash and cash equivalents and restricted cash - end of period | 39,111,000 | -6,751,000 | 37,824,000 | -7,903,000 | 106,196,000 | 53,870,000 | -12,168,000 | ||
cash and cash equivalents and restricted cash – beginning of period: | |||||||||
cash and cash equivalents | 19,896,000 | 0 | 18,152,000 | 0 | 72,058,000 | 42,500,000 | 0 | ||
restricted cash | 18,156,000 | 0 | 12,514,000 | 0 | 16,974,000 | 14,432,000 | 0 | 4,069,000 | -4,404,000 |
total cash and cash equivalents and restricted cash – beginning of period | 38,052,000 | 0 | 30,666,000 | 0 | 89,032,000 | 56,932,000 | 0 | ||
cash and cash equivalents and restricted cash – end of period: | |||||||||
total cash and cash equivalents and restricted cash – end of period | 39,111,000 | -6,751,000 | 37,824,000 | -7,903,000 | 106,196,000 | 53,870,000 | -12,168,000 | ||
supplemental cash flow information: | |||||||||
cash paid for interest, net of capitalized interest of 6,829 and 5,104 in 2025 and 2024, respectively | |||||||||
non-cash interest capitalized to real estate under development | 566,000 | 0 | 27,000 | 13,000 | 16,000 | 280,000 | 259,000 | ||
additions to investment in real estate included in accounts payable and accrued liabilities | 9,206,000 | 0 | 3,527,000 | 1,285,000 | 1,970,000 | 2,581,000 | -871,000 | ||
impairment of long-lived asset | 33,780,000 | ||||||||
net cash from investing activities | -9,680,000 | -6,421,000 | -12,494,000 | -5,011,000 | -7,745,000 | -7,115,000 | -15,129,000 | -77,840,000 | -11,508,000 |
loan issuance costs | -250,000 | ||||||||
net cash from financing activities | 5,543,000 | -10,130,000 | 12,231,000 | -4,461,000 | 17,472,000 | -4,986,000 | 28,590,000 | -5,898,000 | |
net increase in cash and cash equivalents and restricted cash, including cash and cash equivalents and restricted cash classified within assets held for sale | 2,539,000 | ||||||||
net cash and cash equivalents and restricted cash within assets held for sale | -1,480,000 | ||||||||
cash paid for interest, net of capitalized interest of 2,780 and 1,859 in 2025 and 2024, respectively | 11,188,000 | ||||||||
non-cash dividend declared | 4,614,000 | ||||||||
amortization of above- and below-market leases | -8,000 | -9,000 | -32,000 | -31,000 | -99,000 | -250,000 | -432,000 | ||
loss on modification/extinguishment of debt | |||||||||
bad debt expense | 900,000 | 1,178,000 | |||||||
additions to land, buildings and improvements | |||||||||
cash and cash equivalents and restricted cash – beginning of year | |||||||||
cash and cash equivalents and restricted cash – end of year | |||||||||
cash and cash equivalents and restricted cash – beginning of year: | |||||||||
total cash and cash equivalents and restricted cash – beginning of year | |||||||||
cash and cash equivalents and restricted cash – end of year: | |||||||||
total cash and cash equivalents and restricted cash – end of year | |||||||||
cash paid for interest, net of capitalized interest of 9,417 and 5,508 in 2024 and 2023, respectively | |||||||||
loss on extinguishment of debt | 0 | 3,868,000 | 3,034,000 | 0 | |||||
return of acquisition deposits | |||||||||
cash paid in connection with acquisition of real estate | -79,794,000 | 0 | |||||||
cash paid for interest, net of capitalized interest of 3,258 and 2,309 in 2023 and 2022, respectively | |||||||||
insurance proceeds from involuntary conversion | |||||||||
cash paid for interest, net of capitalized interest of 2,382 and 607 in 2023 and 2022, respectively | 9,863,000 | ||||||||
dividend declared, paid april 5, 2023 | 4,348,000 | ||||||||
gain on involuntary conversion | |||||||||
transaction pursuit costs | 0 | 60,000 | |||||||
purchase of interest rate cap | -14,000 | ||||||||
cash paid for interest, net of capitalized interest of 794 and 679 in 2021 and 2020, respectively | |||||||||
cash paid for interest, net of capitalized interest of 393 and 300 in 2021 and 2020, respectively | 9,999,000 | ||||||||
gain on termination of lease | |||||||||
change in fair value of interest rate caps | -98,000 | 30,000 | |||||||
sale and purchase of interest rate caps | |||||||||
proceeds and costs from sale of common stock | 0 | -126,000 | |||||||
repurchase of common stock | |||||||||
cash and cash equivalents and restricted cash – beginning of period | |||||||||
cash and cash equivalents and restricted cash – end of period | |||||||||
cash paid for interest, net of capitalized interest of 1,456, 5,687 and 5,531 in 2020, 2019 and 2018, respectively | |||||||||
net cash used in financing activities | -4,997,000 | ||||||||
net decrease in cash and cash equivalents and restricted cash | -3,062,000 | ||||||||
cash paid for interest, net of capitalized interest of 300 and 1,836 in 2020 and 2019, respectively | 9,532,000 | ||||||||
proceeds from sale of interest rate caps | |||||||||
acquisition deposit | -5,982,000 | ||||||||
cash paid for interest, net of capitalized interest of 5,261 and 4,054 in 2019 and 2018, respectively | |||||||||
cash paid for interest, net of capitalized interest of 3,761 and 2,541 in 2019 and 2018, respectively | |||||||||
(redemption) sale of preferred stock | 0 | ||||||||
net increase in cash and cash equivalents | -46,829,000 | -13,715,000 | |||||||
cash and cash equivalents - beginning of period | 0 | 0 | |||||||
cash and cash equivalents - end of period | -46,829,000 | -13,715,000 | |||||||
cash paid for interest, net of capitalized interest of 5,531 and 2,852 in 2018 and 2017, respectively | |||||||||
contributions | |||||||||
loan costs and other | -875,000 | -1,000 | |||||||
cash paid for interest, net of capitalized interest of 2,852 in 2017 | |||||||||
other non-cash items capitalized to real estate under development | 1,039,000 | 848,000 | |||||||
cash paid for interest, net of capitalized interest of 1,720 in 2017 | |||||||||
amortization of above and below market leases | |||||||||
accounts and other receivables | |||||||||
cash flow from investing activities | |||||||||
cash flow from financing activities | |||||||||
redemption / sale of preferred stock | |||||||||
payments of notes payable | |||||||||
proceeds from notes payable | |||||||||
cash paid for interest, net of capitalized interest of 180 in 2017 |