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.


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...

07/19/17
...a July 5 order in favor of tenants of Clipper Equity...

07/11/17
...te Four for $105 million. That was followed by Clipper Equity buying 107 Columbia Heights from the Jehovah’s Witnesses for $87.5 million...

07/05/17
...a downtown luxury building won a suit against Clipper Equity, successfully arguing the landlord overcharged them on rent while also receiving millions in city...

06/30/17
...Battery Place and David Bistricer David Bistricer's Clipper Equity wants to offer 166 condominium units at 70 Battery Place, an offering plan filed last week...

06/01/17
...Holliday, Vornado Realty Trust’s Steven Roth and Clipper Equity’s David Bistricer. More than 130 companies are slated to make presentations. The event has...

05/26/17
...softening luxury condo market, after Chetrit and partner Clipper Equity bailed on a plan to convert the office building at 550 Madison Avenue into a...

05/16/17
...surrounded by family and colleagues from his firm, Clipper Equity, he ushered in another day of feverish trading. Afterward, Bistricer celebrated over a catered...

05/12/17
...the nearby Hotel Bossert at 98 Montague Street through Clipper Equity, the family office started by his father in the 1950s. Clipper Equity and the...

...surrounded by family and colleagues from his firm, Clipper Equity, he ushered in another day of feverish trading. Afterward, Bistricer celebrated over a catered...

04/17/17
...the Department of Buildings. Chetrit, along with partner Clipper Equity, paid $180 million in 2013 to buy the 254,000-square-foot Flatotel, which they converted to 190 condos. Sales...

03/30/17
...private to public. In February, David Bistricer’s Clipper Equity became the latest, joining the likes of SL Green Realty, Vornado Realty Trust, Boston...
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 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 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 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
  • 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
  • Address 752-758 West End Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 72,360,000
  • Event Sales
  • Building Name Spring Creek Towers
  • Address Starrett City
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 1,300,000,000
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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...
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