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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, joined the family firm in 2005 and is now chief operating officer and executive vice president, 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...
    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
    Manhattan, 10007
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    THE GEORGE UNITS LLC
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    Chetrit Group|Clipper Equity, 227 EAST 19TH STREET
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    1833 ASSOCIATES,
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    Brooklyn, 11223
    1750 OCEAN PARKWAY AS
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    Brooklyn, 11201
    250 LIVINGSTON OWNER
    250 Livingston Avenue is a 13-story, 325,041-square-foot office building in Downtown Brooklyn located...
    Brooklyn, 11201
    141 LIVINGSTON OWNER
    141 Livingston Street is a 175,000-square-foot, 16-floor office building, completed in 1959, in...
    Brooklyn, 11215
    135 PROSPECT TENANTS
    135 Prospect Park West is a 7-story, 43-unit cooperative residential building, completed in...
    Brooklyn, 11235
    3100 OCEAN LLC
    Shelbourne Towers, or 3100 Ocean Parkway, is a residential rental building in Coney...
    Manhattan, 10025
    Clipper Equity
    825 West End Avenue is 16-story, 106-unit residential condominium on the Upper West...
    Brooklyn, 11235
    3060 OCEAN AVE OWNERS
    3060 Ocean Avenue is a 149-unit cooperative residential building in Sheepshead Bay, Brooklyn....
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    NYC DCAS
    George Washington, or 101 Wadsworth Avenue, is one of four 32-story buildings in...
    Manhattan, 10040
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    Fort Tryon Gardens, located at 4525 Broadway and 245-303 Bennett Avenue in Hudson...
    Brooklyn, 11201
    Clipper Equity, METROTECH, LLC I
    The sponsor(s) filed plans on 05/22/06 for a condo project at 101 Willoughby...
    Brooklyn, 11210
    RENAISSANCE EQUITY HO
    Flatbush Gardens is a residential property, built in 1949-1950 on the site of...

    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
    Clipper Equity, founded by Moric Bistricer in the 1950s and currently headed by his son David, also converted into a REIT this year...

    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
    The rest of the top five included, in order, the Chetrit Group, Clipper Equity, AvalonBay Communities, and the Rabsky Group...

    07/01/2011
    Developer JJ Bistricer of Clipper Equity said at the time that the project needed a Brooklyn--based team of agents...
    Brooklyn, 11201
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    Brooklyn, 11222
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    ...
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    Clipper Equity, METROTECH, LLC I
    The sponsor(s) filed plans on 05/22/06 for a condo project at 101 Willoughby...
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