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	Podcast:		Yet Another Value Podcast
	Episode:		Bill Chen on Clipper Realty and the NYC apartment boom
	Category:		Business
	Duration:		01:03:35
	Publish Date:		2022-05-09 13:00:00
	Description:		Bill Chen makes his second podcast appearance to discuss Clipper Realty (CLPR). Clipper owns a bunch of NYC apartment buildings, and Bill thinks the current boom in apartment rentals will drive strong returns for the company going forward. Bill's first podcast appearance: https://yetanothervaluepodcast.substack.com/p/bill-chen-breaks-down-frphs-sotp?utm_source=url 0:00 Intro 2:05 CLPR overview 4:35 Where is Bill most differentiated on CLPR? 8:20 How does the post-COVID NYC apartment boom help CLPR? 14:15 CLPR's leverage and balance sheet 16:45 Why CLPR over SLG or another similar REIT? 20:30 Are the long term trends against NYC? 28:00 Rent control in NYC 34:50 Why do people have cable companies and their landlords? 39:30 CLPR and inflation 41:10 "Regulatory inflation" and NYC's moat 43:30 CLPR's controlling family 47:15 Discussing cap rate environment for NYC apartment 49:40 CLPR's development projects and potential value creation 53:40 The safety of CLPR 1:00:00 Bill makes me feel bad about my shoebox apartment
	Total Play:		0