Slide 1: Announces Second Quarter 2026 Results
Clipper Realty Inc. Announces Second Quarter 2026 Results NEW YORK, August 6, 2026 /Business Wire/ -- Clipper Realty Inc. (NYSE: CLPR) (the “Company”), a leading owner and operator of multifamily residential and commercial properties in the New York metropolitan area, today announced financial and o
Slide 2: Revenues, Net Loss and AFFO
Revenues. For the second quarter of 2026, revenues were $38.6 million as compared to revenues of $39.0 million during the second quarter of 2025, a decrease of $0.4 million. The decrease was primarily due to the termination of the NYC lease in August 2025 of $(4.1) million, the sale of the 10 West 6
Slide 3: Forward-Looking Statements
Forward-Looking Statements Various statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include estimates concerni
Slide 4: Consolidated Balance Sheets
Clipper Realty Inc. Consolidated Balance Sheets (In thousands, except for share and per share data) December 31, June 30, 2026 2025 (unaudited) ASSETS Investment in real estate Land and improvements $ 559,419 $ 559,419 Building and improvements 841,333 836,437 Tenant improvements 6,475 6,386 Furnitu
Slide 5: Consolidated Statements of Operations
Clipper Realty Inc. Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 REVENUES Residential rental income $ 32,222 $ 29,054 $ 64,126 $ 58,244 Commercial rental income 6,353 9,982 12,564 20,
Slide 6: Consolidated Statements of Cash Flows
Clipper Realty Inc. Consolidated Statements of Cash Flows (In thousands) (Unaudited) Six Months Ended June 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (17,409) $ (36,459) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 15,934 14,900 Amor
Slide 7: Reconciliation of Non-GAAP Measures
Clipper Realty Inc. Reconciliation of Non-GAAP Measures (In thousands, except per share data) (Unaudited) Non-GAAP Financial Measures We disclose and discuss funds from operations (“FFO”), adjusted funds from operations (“AFFO”), adjusted earnings before interest, income taxes, depreciation and amor
Slide 8: Reconciliation of FFO and AFFO
The following table sets forth a reconciliation of FFO and AFFO for the periods presented to net loss, computed in accordance with GAAP (amounts in thousands): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 FFO Net loss $ (6,265) $ (1,356) $ (17,409) $ (36,459) Real estate
Slide 9: Net Operating Income
Net Operating Income We believe that NOI is a useful measure of our operating performance. We define NOI as income from operations plus real estate depreciation and amortization, general and administrative expenses, acquisition and other costs, transaction pursuit costs, amortization of identifiable