Company: CLPR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001437749-25-003988
Chunk: 85

Company: Clipper Realty Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 85
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2031              3.21   %            100,000
       Tribeca House, Manhattan, NY    3/6/2028             4.506   %            360,000
               Aspen, Manhattan, NY    7/1/2028              3.68   %             59,403
         Clover House, Brooklyn, NY   12/1/2029              3.53   %             82,000
 10 West 65th Street, Manhattan, NY   11/1/2027       SOFR + 2.50   %             31,437
  1010 Pacific Street, Brooklyn, NY   9/15/2025              5.55   %             60,000
  1010 Pacific Street, Brooklyn, NY   9/15/2025              6.37   %             20,000
      953 Dean Street, Brooklyn, NY   8/10/2026          SOFR + 4   %             98,849
      953 Dean Street, Brooklyn, NY   8/10/2026         SOFR + 10   %              9,670
                                                                              $1,275,359
Flatbush Gardens
 
There is $329,000 of mortgage debt secured by Flatbush Gardens, as of December 31, 2024, in the form of a mortgage note to New York Community Bank. The note matures on June 1, 2032, and bears interest at 3.125% through May 2027 and thereafter at the prime rate plus 2.75%, subject to an option to fix the rate. The note requires interest-only payments through May 2027, and monthly principal and interest payments thereafter based on a 30-year amortization schedule. We have the option to prepay all (but not less than all) of the unpaid balance of the note prior to the maturity date, subject to certain prepayment premiums, as defined.
250 Livingston Street
 
There is $125.0 million in mortgage debt secured by 250 Livingston Street, as of December 31, 2024, in the form of a mortgage note to Citi Real Estate Funding Inc. The note matures on June 6, 2029, bears interest at 3.63% and requires interest-only payments for the entire term. We have the option to prepay all (but not less