0001437749-19-012848.txt : 20190627 0001437749-19-012848.hdr.sgml : 20190627 20190626213240 ACCESSION NUMBER: 0001437749-19-012848 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190626 ITEM INFORMATION: Other Events FILED AS OF DATE: 20190627 DATE AS OF CHANGE: 20190626 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Clipper Realty Inc. CENTRAL INDEX KEY: 0001649096 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 474579660 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38010 FILM NUMBER: 19922856 BUSINESS ADDRESS: STREET 1: 4611 12TH AVENUE, SUITE 1L CITY: BROOKLYN STATE: NY ZIP: 11219 BUSINESS PHONE: 718-438-2804 MAIL ADDRESS: STREET 1: 4611 12TH AVENUE, SUITE 1L CITY: BROOKLYN STATE: NY ZIP: 11219 8-K 1 clpr20190626_8k.htm FORM 8-K clpr20190626_8k.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported):

June 26, 2019

 

 

CLIPPER REALTY INC.

(Exact Name of Registrant as Specified in Charter)

 

Maryland

 

 001-38010

 

47-4579660

(State or Other

 

(Commission

 

(IRS Employer

Jurisdiction of

 

File Number)

 

Identification No.)

Incorporation)

 

 

 

 

 

 

 

4611 12th Avenue, Suite 1L
Brooklyn, New York

 

11219

(Address of Principal Executive Offices)

 

(Zip Code)

 

 

Registrant’s telephone number, including area code: (718) 438-2804

 

Former name or former address, if changed since last report: N/A

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.):

 

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company          ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

CLPR

New York Stock Exchange

 

 

 
 

 

Item 8.01. Other Events

 

On June 25, 2019, the New York Court of Appeals ruled in favor of the appellants in the case Kuzmich v. 50 Murray St. Acquisition LLC, 2019 NY Slip Op 05057 (June 25, 2019), holding that the apartments are not subject to luxury deregulation. Clipper Realty Inc. (the “Company”) is still evaluating the decision, and, although no assurances are possible, Company management currently does not believe that the decision will have a material adverse effect on the Company’s business. The prior history of this litigation has been previously disclosed in prior Company filings with the SEC.

 

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

 

All statements other than statements of historical fact included in this Report on Form 8-K are “forward looking statements.” When used in this Report, words such as “believes” or other words or phrases that convey the uncertainty of future events or outcomes are intended to identify forward-looking statements, which are generally not historical in nature. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. These risks, contingencies and uncertainties include the following:

 

 

-

The inherent uncertainty and unpredictability of litigation

 

 

-

Other risks and risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on March 7, 2019, including the risk factor entitled “Multifamily residential properties are subject to rent stabilization regulations, which limit our ability to raise rents above specified maximum amounts and could give rise to claims by tenants that their rents exceed such specified maximum amounts.”

 

Clipper Realty Inc. undertakes no obligation to update or revise any of its forward-looking statements, whether as a result of new information, future events or otherwise.

 

 
 

 

SIGNATURE

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Clipper Realty Inc.
 

(Registrant)
     
 

By:

/s/ David Bistricer
 

Name:

David Bistricer
 

Title:

Co-Chairman and Chief Executive Officer

 

Date: June 26, 2019