Clipper Realty: Lender may foreclose on 250 Livingston St. after 45-day loan sale period
Clipper Realty's subsidiary 250 Livingston Owner LLC agreed with the lender, Wells Fargo as trustee for the GS Mortgage Securities Trust 2019-GC40 securitization, to jointly market and sell its $125.0 million loan, secured by the 250 Livingston Street property in Brooklyn, during a 45-day marketing period that began June 4, 2026. If the loan is not sold, the lender has the right at the end of that period to foreclose on the property, including taking the deed in lieu of foreclosure, which could cause shareholders to lose the property that secures the loan.
Key points
- The $125.0 million loan bears 3.63% interest, requires interest-only payments and matures June 6, 2029.
- The Consent and Cooperation Agreement became effective June 4, 2026, starting a 45-day marketing period that the lender may extend at its sole discretion.
- At the end of the marketing period, the lender may foreclose on the property or take the deed in lieu; the borrower may submit an offer to buy the loan.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.