Clipper Realty Inc., through its subsidiary 250 Livingston Owner LLC, is party to a $125 million loan agreement with Citi Real Estate Funding Inc., secured by the 250 Livingston Street property in Brooklyn, New York. The loan, maturing on June 6, 2029, carries a 3.63% interest rate and requires interest-only payments throughout its term. Following the early lease termination by the City of New York and subsequent missed escrow deposit in October 2025, Clipper Realty has requested the loan be transferred to special servicing for potential modifications and is negotiating a Consent and Cooperation Agreement with the lender for the potential sale of the property, though no assurance of completion has been given. Additionally, Clipper Realty, through its subsidiary 141 Livingston Owner LLC, anticipates an agreement with the special servicer for Wells Fargo Bank, N.A., regarding $100 million in promissory mortgage notes secured by the 141 Livingston Street property. The settlement could involve Clipper Realty providing a $10 million letter of credit and up to $3 million in fees, while the lender would waive penalties and default interest, dismiss foreclosure actions, and approve a five-year lease extension with the property's principal New York City tenant.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Clipper Realty Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-25-038702), on December 23, 2025, and is solely responsible for the information contained therein.