Bistricer's Clipper Equity is currently 30 days delinquent on a $100 million loan backed by 141 Livingston Street, reflecting ongoing financial uncertainty for the firm.
As the Department of Citywide Administrative Services leans towards new options, including a lease expiring soon, Clipper Equity faces potential significant vacancy and financial repercussions.
The city’s decision to terminate its lease at 250 Livingston Street, along with the current lease circumstances at 141 Livingston, presents increasing challenges for Clipper Realty in a struggling office market.
Clipper purchased 141 Livingston Street for $14 million in 2002, yet now confronts possible financial instability due to tenant turnover and loan delinquency.
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