Clipper Realty Inc. (NYSE: CLPR) reported Q4 EPS of $0.09, versus $0.07 reported last year. Revenue for the quarter came in at $24.24 thousand, versus $21 thousand reported last year.

David Bistricer, Co-Chairman and Chief Executive Officer, said, “We are pleased with our strong rent growth across our portfolio in 2016 and are looking forward to continued growth. We continue to experience excellent demand for our residential properties in Brooklyn and Manhattan. We are pleased that we negotiated an extension and an increase in rents for a lease with New York City on a portion of our office properties in downtown Brooklyn that will generate significantly higher revenue in 2017. We look forward to completing the previously announced acquisition of the Columbia Heights property. With solid operating results, the funds raised in our recently completed IPO and the beneficial refinancing of the Tribeca House loans, we are well positioned for future growth.”

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