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Clipper Equity

4611 12th Avenue
Brooklyn, NY 11219
(718) 438-2804
Website

Clipper Equity is a residential landlord and development firm led by David Bistricer in a partnership with Sam Levinson. The Brooklyn-based company is founded on the real estate holdings of the Bistricer family, including David's parents, Elsa and Moric. Some of the properties were acquired in the 1970s and 1980s. David's son Jacob, who goes by JJ, has worked for the family firm for the past decade and is now chief operating officer, according to LinkedIn. Clipper Equity has a lot of experience with conversions, turning residential buildings into cooperatives or office buildings into  loft-like apartments. The firm sometimes invests in partnership with another family-run developer and landlord, the Chetrit Group. Together, Clipper and Chetrit have acquired the Sony Building, Flatotel and other buildings the developers want to convert to more lucrative uses. In 2007, Clipper Equity made a failed bid, worth $1.3 billion, for Starrett City, the largest federally-subsidized housing development in the U.S. The past irregularities of Clipper Equity and Bistricer played a role in the collapse of the deal. Several of the firm's projects from past decades converting rental apartments into cooperatives or condominiums lacked proper disclosure, garnering Bistricer a ban from conversion work in 1998. The company has gotten exceptions from the ban on an individual-project basis.

Clipper Equity
Jacob-Bistricer, Brooklyn, NY, (718) 438-2804
Jacob JJ Bistricer is the son of Clipper Equity-founder David Bistricer. JJ joined...
Clipper Equity, CEO
4611 12th Avenue, Brooklyn, NY, (718) 438-2804
David Bistricer is the founder and principal of Clipper Equity and a residential...
  • Event Financing
  • Address 250 Livingston Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Price $ 125,000,000
  • Publication Date 06/13/2019
  • Event Date 06/12/2019
  • Party 1 Clipper Equity
  • Party 2 Citigroup
notes
The owner secured a loan of $125 million for the Brooklyn Heights property.
  • Event Office Leasing
  • Address 250 Livingston Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Square feet 342,496
  • Publication Date 05/09/2019
  • Event Date 05/09/2019
  • Party 1 Clipper Equity
  • Party 2 New York City Human Resources Administration
notes
The administration signed a deal to renew its lease for the Brooklyn Heights space for an additional 10 years.
  • Event Financing
  • Address 111 Wadsworth Avenue
  • Neighborhood Harlem
  • Borough Manhattan
  • Price $ 136,000,000
  • Publication Date 02/01/2019
  • Event Date 01/29/2019
  • Party 1 Clipper Equity
  • Party 2 Walker & Dunlop
notes
The owner secured a loan of $136 million for the Harlem portfolio.
  • Event Financing
  • Address 123 Parkside Avenue
  • Neighborhood Prospect Park South
  • Borough Brooklyn
  • Price $ 98,900,000
notes
The owner secured a loan of $98.9 million for the Prospect Park South portfolio.
  • Event Financing
  • Address 224 East 20th Street
  • Neighborhood Gramercy
  • Borough Manhattan
  • Price $ 380,000,000
notes
The partnership secured a $380 million loan to refinance Gramercy Square in Gramercy.
  • Event Financing
  • Address 53 Park Place, 120 Church Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Price $ 335,000,000
notes
The owner secured a $335 million refinancing loan for an adjacent pair of buildings in Tribeca.
  • Event Financing
  • Address 21 West 86th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 104,000,000
notes
The company secured a $104 million loan for multifamily building.
  • Event Sales
  • Address 21 West 86th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 155
  • Price $ 172,500,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 Barings Real Estate Advisors
  • Party 2 Clipper Equity
notes
The 155 unit building contains 36 rent-stabilized multifamilys.
  • Event Sales
  • Address 135 West 52nd Street
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 5,000
  • Price $ 9,500,000
  • Price per foot $ 1,900.00
notes
The retail condominium sold for $9.5 million.
  • Event Sales
  • Building Name Unit 2PR, BellTell Lofts
  • Address 365 Bridge Street
  • Unit 2PR
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 804
  • Price $ 295,000
  • Price per foot $ 366.92
  • Publication Date 05/09/2016
  • Event Date 04/14/2016
  • Party 1 Clipper Equity
  • Party 1 Entity METROTECH LLC I
  • Party 2 Amy Van Winkle Plumb Oppenheim
  • Event Retail Leasing
  • Address 120 Church Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 3,545
notes
The retailer signed a lease.
  • Event Financing
  • Address 135 West 52nd Street
  • Neighborhood Midtown West
  • Borough Manhattan
notes
A $228.5 million loan was provided for the condo conversion. Formerly the Flatotel, the property will have 109 residential condo units and 55,000 square feet of office condo space. Condo conversion
  • Event Sales
  • Address 752 West End Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 120,000,000
notes
The property sold for $120 million. The sellers acquired the building for $72 million in 2010.
  • Event Sales
  • Address 752 West End Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 72,000,000
  • Price per foot $ 365,000.00
notes
The property sold for $72 million, or about $365,000 per unit.
  • Event Sales
  • Address 752-758 West End Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 72,360,000
  • Event Sales
  • Building Name 752-758 West End Avenue
  • Address 758 West End Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 161,000
  • Price $ 72,360,000
  • Price per foot $ 449.44
notes
The property sold for $72.36 million. The seller acquired the building in August 2007 for $85.8 million.
  • Event Sales
  • Building Name Spring Creek Towers
  • Address Starrett City
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 1,300,000,000
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06/01/2018
From left: Blackstone’s Jon Gray, the Spiral at Hudson Yards, Landesbank’s Rainer Neske and 5 Manhattan West New York City’s major real estate lenders have From left: Blackstone’s Jon Gray, the Spiral at Hudson Yards, Landesbank’s Rainer Neske and 5 Manhattan West New York City’s major real estate lenders have...

03/29/2018
The site is the former headquarters of Dime Savings Bank of New York, and Chetrit is planning a 73-story, 417-unit rental and condo tower there with JDS Development. Chetrit is also at work on the long-delayed Bossert Hotel project with Clipper Equity in Downtown Brooklyn 98 Montague Street...

09/01/2017
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12/29/2016
The owners, Joseph Chetrit’s Chetrit Group and David Bistricer’s Clipper Equity, pulled the plug on a 96-unit, Robert A.M...

09/01/2015
David Bistricer, CEO of Clipper Equity, Chetrit’s partner on five projects in Manhattan, including the conversion of the former Sony building at 550 Madison Avenue into luxury condos, said banks are being very selective about backing deals...

08/01/2014
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07/01/2011
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