A new iridium-containing layered cuprate material, Ir 0.825 Sr 2 Sm 1.15 Ce 0.85 Cu 2.175 O 10 , has been synthesized by conventional ambient-pressure solid-state techniques. The material's structure has been fully characterized by Rietveld refinement of high-resolution synchrotron x-ray diffraction data; tilts and rotations of the IrO 6 octahedra are observed as a result of a bond mismatch between in-plane Ir-O and Cu-O bond lengths. DC-susceptibility measurements evidence a complex set of magnetic transitions upon cooling that are characteristic of a reentrant spin-glass ground-state. The glassy character of the lowest-temperature (T g = 10 K) transition is further confirmed by AC-susceptibility measurements, showing a characteristic frequency dependence that can be well fitted by the Vogel-Fulcher law and yields a value of T f [T f log(ω)] = 0.015(1), typical of dilute magnetic systems. Electronic transport measurements show the material to be semiconducting at all temperatures, so that the CuO 2 planes are underdoped with no evidence of a transition to a superconducting state. Negative magnetoresistance is observed when the material is cooled below 20 K, and the magnitude of this magnetoresistance is seen to increase upon cooling to a value of MR = −9% at 8 K.