Clipper Realty Inc. (CLPR) has disclosed a new risk, in the Costs category.
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Clipper Realty Inc. faces significant financial risk due to the termination of the lease by the City of New York at 250 Livingston Street, which previously generated $15.4 million annually. The company has struggled to replace the tenant at comparable rent rates, leading to a series of defaults on a $125 million mortgage loan associated with the property. Despite attempts to rectify these defaults and negotiate a Consent and Cooperation Agreement for the property’s sale, uncertainty remains regarding the company’s ability to meet its financial obligations and maintain cash flow for operations and dividends. This ongoing situation could adversely impact Clipper Realty’s financial condition and investor confidence.
Overall, Wall Street has a Moderate Sell consensus rating on CLPR stock based on 1 Sell.
To learn more about Clipper Realty Inc.’s risk factors, click here.