Clipper Equity | The Real Deal New York

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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.


08/01/18
...in 1984. The Chetrit Group and David Bistricer’s Clipper Equity purchased the property, then known as the Sony Building, from Sony for $1.1 billion in...

06/01/18
...lease in September. 3) Cabrini, revisited – $280 million Chetrit Group, Clipper Equity and Read Property Group got a new injection of debt for their redevelopment of...

04/27/18
...November 2012 for $4.2 million. 10. 45 Woodruff Avenue, n/a Buyer: Clipper Equity Seller: Chetrit Group Chetrit Group sold 45 Woodruff Avenue in Flatbush to Clipper Equity in...

04/12/18
...property at 550 Madison Avenue to Chetrit Group and Clipper Equity for $1.1 billion, it marketed the end of an era. The Japanese conglomerate first leased...

04/11/18
...project, which is under development by Chetrit Group, Clipper Equity and Read Property Group, in a $380 million debt package, replacing loans in the amount...

04/05/18
...large loan transactions in Manhattan. In February, developer Clipper Equity refinanced the apartment building at 120 Church Street with a $335 million loan from Deutsche Bank...

04/05/18
...from the Chetrit Group and David Bistricer’s Clipper Equity, which had planned a $1.9 billion condominium conversion of the property known as the Sony...

03/29/18
...work on the long-delayed Bossert Hotel project with Clipper Equity in Downtown Brooklyn 98 Montague Street. 3) Arker Companies | 1.12 million sf Arker Companies took the No...

03/14/18
...on February’s list. The financial giant provided Clipper Equity $335 million for its apartment at 120 Church Street in Lower Manhattan. Clipper bought the building...

03/05/18
...as the developers search for a new operator. Clipper Equity’s David Bistricer co-owns the building with Joseph Chetrit, and the pair had planned...

01/19/18
...and 50 Murray Street (Credit: CityRealty) David Bistricer’s Clipper Equity won an appeal against tenants at 50 Murray Street who claimed that the landlord had...

12/27/17
...at Gramercy Square it’s developing with partner Clipper Equity...

12/25/17
...don’t want an open bidding process," said Clipper Equity...

11/28/17
...purchased the building from the Chetrit Group and Clipper Equity for $1.4 billion last year after the developers abandoned plans to convert the upper floors...

10/16/17
...his $1.5 billion purchase of 5 Times Square in 2014, and Clipper Equity founder David Bistricer, who purchased the Sony Tower with Joseph Chetrit for $1.1 billion in...

...his $1.5 billion purchase of 5 Times Square in 2014, and Clipper Equity founder David Bistricer, who purchased the Sony Tower with Joseph Chetrit for $1.1 billion in...

09/26/17
...and officials were very upset,” Bistricer, who heads Clipper Equity, recalled. “At the time, the sellers weren’t considering affordability in order to achieve...

09/13/17
...only one-time family-run firm to go public recently. Clipper Equity, founded by Moric Bistricer in the 1950s and currently headed by his son David...

09/11/17
...went. The following year, when David Bistricer’s Clipper Equity made a play for Starrett City, a Brooklyn housing complex with nearly 6,000 units that...

...only one-time family-run firm to go public recently. Clipper Equity, founded by Moric Bistricer in the 1950s and currently headed by his son David...

08/17/17
...Bill Rudin, Meridian Capital Group’s Ralph Herzka, Clipper Equity’s David Bistricer, Steve Witkoff, Silverstein Properties’ Larry Silverstein, RFR Realty’s Aby Rosen...

08/11/17
...as well, which they purchased in 2012 for $6.2 million. Clipper Equity recently purchased a Jehovah’s Witnesses building at 107 Columbia Heights in Brooklyn Heights for...

08/11/17
...plaintiffs in recent months. As a result, landlords Clipper Equity and Kibel Companies were ordered by a court to re-regulate dozens of lower Manhattan...

08/07/17
...Jehovah’s Witnesses) 2. Jehovah’s Witnesses, $87.5 million Buyer: Clipper Equity Seller: Jehovah’s Witnesses Clipper Equity’s first action as a publicly traded company...

07/20/17
...-unit building at 107 Columbia Heights, which David Bistricer's Clipper Equity bought from the Jehovah’s Witnesses in May for $87.5 million. On the development side...
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 224 East 20th Street
  • Neighborhood Gramercy
  • Borough Manhattan
  • Price $ 380,000,000
  • Publication Date 04/17/2018
  • Event Date 04/10/2018
  • Party 1 Chetrit Group, Clipper Equity, Read Property Group
  • Party 2 SL Green Realty
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
  • Publication Date 02/28/2018
  • Event Date 02/28/2018
  • Party 1 Clipper Equity
  • Party 2 Deutsche Bank
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
50 MURRAY STREET ACQU
...
Manhattan, 10007
50 MURRAY STREET ACQU
...
Brooklyn, 11226
125 ON THE PARK LLC
...
Brooklyn, 11203
RENAISSANCE EQUITY HO
...
Brooklyn, 11210
RENAISSANCE EQUITY HO
...
Brooklyn, 11210
RENAISSANCE EQUITY HO
...
Brooklyn, 11210
RENAISSANCE EQUITY HO
...
Brooklyn, 11210
RENAISSANCE EQUITY HO
...
Manhattan, 10033
THE GEORGE UNITS LLC
...
Manhattan, 10033
THE GEORGE UNITS LLC
...
Manhattan, 10003
Chetrit Group|Clipper Equity, 227 EAST 19TH STREET
This building is part of the four-building development known as Gramercy Square....
Manhattan, 10003
Chetrit Group, 227 EAST 19TH STREET OWNER LLC
...
Brooklyn, 11201
Chetrit Group|Clipper Equity, CF BOSSERT 26 LLC|DB BOSSERT LLC|MONTAGUE INVESTORS LLC
This property is a new development. The developer(s) filed plans in May of...
Brooklyn, 11222
Chetrit Group|Clipper Equity, WATERVIEW AT GREENPOINT LLC
...
Brooklyn, 11222
WATERVIEW AT GREENPOINT LLC
...
Brooklyn, 11229
1833 ASSOCIATES,
1833 East 12th Street is a 6-story, 81-unit residential rental building in Homecrest,...
Brooklyn, 11223
1750 OCEAN PARKWAY AS
1750 Ocean Parkway is a 6-story, 73-unit residential rental building in Gravesend, Brooklyn...
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....
Manhattan, 10033
NYC DCAS
George Washington, or 101 Wadsworth Avenue, is one of four 32-story buildings in...
Manhattan, 10040
POLLER DAVID
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...
Manhattan, 10019
CHETRIT GROUP, 135 WEST 52ND STREET OWNER LLC
The sponsor(s) filed plans on 08/21/13 for a condo project at 135 West...
Brooklyn, 11222
Chetrit Group, WATERVIEW AT GREENPOINT LLC
77 Commercial Street is a residential development site in Greenpoint, Brooklyn, that the...
Manhattan, 10003
CHETRIT GROUP, 227 EAST 19TH STREET OWNER LLC
This property is a new development. The developer(s) filed plans in July of...

12/29/16
...Olayan Group and Chelsfield Seller: Chetrit Group and Clipper Equity Brokerage: Eastdil Secured (seller); JLL (buyer) The proposed Sony Building residential conversion, once representative...

...units under development there. David Bistricer, CEO of Clipper Equity, Chetrit’s partner on five projects in Manhattan, including the conversion of the former...

...top five included, in order, the Chetrit Group, Clipper Equity, AvalonBay Communities, and the Rabsky Group. If the group seems diverse, it’s because...

...Manhattan super-broker Ilan Bracha. Developer JJ Bistricer of Clipper Equity said at the time that the project needed a Brooklyn--based team of agents. BellTel...
Manhattan, 10003
Chetrit Group, 227 EAST 19TH STREET OWNER LLC
...
Brooklyn, 11201
Chetrit Group|Clipper Equity, CF BOSSERT 26 LLC|DB BOSSERT LLC|MONTAGUE INVESTORS LLC
This property is a new development. The developer(s) filed plans in May of...
Brooklyn, 11222
Chetrit Group|Clipper Equity, WATERVIEW AT GREENPOINT LLC
...
Brooklyn, 11222
WATERVIEW AT GREENPOINT LLC
...
Brooklyn, 11201
Clipper Equity, METROTECH, LLC I
The sponsor(s) filed plans on 05/22/06 for a condo project at 101 Willoughby...
Manhattan, 10019
CHETRIT GROUP, 135 WEST 52ND STREET OWNER LLC
The sponsor(s) filed plans on 08/21/13 for a condo project at 135 West...
Manhattan, 10003
CHETRIT GROUP, 227 EAST 19TH STREET OWNER LLC
This property is a new development. The developer(s) filed plans in July of...