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Clipper Realty reports Q2 adjusted FFO 17c, consensus 14c

Reports Q2 revenue $37.35M. The company said, “We continue to have high occupancy and good renter demand in our buildings. For all our properties, new leases exceeded previous rents by nearly 11% and renewals by nearly 7%. At Flatbush Gardens, as a result of the Article 11 agreement with New York City, we are beginning to collect meaningful enhanced rental recoveries under Section 610 as we continue to make the committed capital improvements and other improvements in the property. At our 250 Livingston Street property, where we previously disclosed New York City’s notification of its intention to vacate in late August 2025, we continue to actively seek solutions and pursue opportunities.”

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