Clipper Realty Inc. ( (CLPR) ) has released its Q3 earnings. Here is a breakdown of the information Clipper Realty Inc. presented to its investors.
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Clipper Realty Inc. is a real estate company operating primarily in New York City, specializing in residential and commercial rental properties. In its latest earnings report, the company highlighted a modest increase in revenues, with residential rental income rising to $27.8 million and commercial rental income reaching $9.8 million for the third quarter of 2024. Despite this growth, Clipper Realty reported a net loss of $1.1 million for the quarter, attributed mainly to increased interest expenses and depreciation. The company’s total assets grew to $1.29 billion, driven by ongoing real estate developments and investments, while its liabilities also increased, primarily due to higher notes payable. Looking forward, Clipper Realty’s management remains focused on managing operating costs and exploring strategic opportunities in the highly competitive New York real estate market.
