secwatch.observer — SEC 8-K summary
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Issuer:     Gyrodyne, LLC (GYRO)
CIK:        0001589061
Form:       8-K
Filed at:   2021-08-05T23:59:59+00:00
Accession:  0001437749-21-018665
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589061/000143774921018665/0001437749-21-018665-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589061/000143774921018665/gyrllc20210804b_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-018665

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