Clipper Realty

Clipper Realty

Clipper Realty went public on the NYSE in February 2017 under ticker CLPR, led by CEO David Bistricer and Co-Chairman Sam Levinson. The company was formed to acquire, own, and operate multifamily residential and commercial properties, principally in the New York metropolitan area. Its initial public offering consolidated several properties previously held in related entities, establishing a vehicle for long-term urban residential investment. Strategy centers on acquiring and repositioning multifamily assets in high-barrier-to-entry New York City neighborhoods. The portfolio has historically included market-rate and rent-stabilized units, with value created through capital improvements and conversion of commercial space to residential use. Named holdings include the 12-story Clover House in Brooklyn Heights and the 840-unit Tribeca House complex, both subject to long-term ground leases. Core markets remain Manhattan and Brooklyn, with an operating footprint limited to New York City. The firm reported a portfolio of seven properties with approximately 3,100 apartment units as of the mid-2020s. The structure includes several legacy ground leases — notably beneath Tribeca House and Clover House — creating a long-duration liability profile that distinguishes the business. No separate philanthropic foundation or family office spinout has been disclosed. Public-market structure is Clipper Realty's defining feature: a single-city, single-subsector REIT run by a controlling shareholder. Bistricer and Levinson together hold a majority voting interest, making this a publicly listed vehicle operated with substantial insider control. The concentrated New York City multifamily bet — reliant on ground-leased land and rent-stabilization exposure — produces a risk-return profile uncommon among diversified public REITs.