Clipper Realty Inc. reported record quarterly revenues of $39.4 million for the first quarter of 2025, marking a 10.2% increase from the $35.8 million recorded in the same period of 2024. This growth was primarily driven by a $3.1 million, or 11.8%, rise in residential revenue, attributed to higher rental rates, occupancy, and collections across all residential properties. Commercial income also saw an increase, up by $0.6 million, or 5.7%, due to the leasing of smaller vacant spaces at Tribeca House and Aspen. The company reported a net loss of $35.1 million for the quarter. When excluding a $33.8 million impairment charge related to the 10 West 65th Street property, which is being held for sale, the net loss was $1.3 million. This compares to a net loss of $2.9 million in the first quarter of 2024. Clipper Realty Inc. also highlighted a plan to generate approximately $12 million in cash by June 2025.