Business Description

In this Annual Report on Form 10-K, when we use the terms the “ Company, ” “ Clipper Realty, ” “ we, ” “ us, ” or “ our, ” unless the context otherwise requires, we are referring to Clipper Realty Inc. and its consolidated subsidiaries. Certain disclosures included in this Annual Report on Form 10-K constitute forward-looking statements that are subject to risks and uncertainties. See