---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-21-018665"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2021-08-05T23:59:59+00:00"
generated_at: "2026-06-29T21:41:41.493044+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Gyrodyne NAV per share falls 28% to $15.22; progress on entitlements but timeline extended to 2022

## Summary
- NAV per share $15.22 at March 31, 2021, down 28% from $21.20 a year ago; pandemic blamed for terminated purchase agreements and delays.
- Cortlandt Manor: Town now amenable to residential; alternative plan includes 160 units; expected Medical Oriented District adoption early 2022, subdivision approval Q1 2022.
- Flowerfield: FEIS accepted March 2021, approved by Suffolk County Planning May 5, 2021; anticipate Findings Statement in 2021, then 12 months to technical approvals and closings.
- Rent collection: $2.989M collected out of $3.094M due for April 2020–June 2021 period (96.6%); 60% of 2021 lease revenue from government/healthcare tenants.
- Debt facilities: $6M lines converted to permanent loans; new $4.95M term loan expected Q3 2021, raising total debt to ~$10.15M.

## SEC filing metadata
- accession: 0001437749-21-018665
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2021-08-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774921018665/0001437749-21-018665-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774921018665/gyrllc20210804b_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-21-018665
- JSON: https://secwatch.observer/filing/0001437749-21-018665.json
- Plain text: https://secwatch.observer/filing/0001437749-21-018665.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.