---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-010115"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2022-04-28T23:59:59+00:00"
generated_at: "2026-06-26T03:25:23.199977+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gyrodyne faces Article 78 lawsuit seeking to annul Flowerfield subdivision approval

## Summary
- Petitioners filed Article 78 petition April 26 in NY Supreme Court, Suffolk County, to annul Planning Board's preliminary subdivision approval.
- Petition challenges SEQRA findings statement (Sept 2021) and March 30, 2022 preliminary approval of 8-lot subdivision of Flowerfield property.
- Gyrodyne says arguments are 'substantially similar' to prior opposition; will vigorously defend Planning Board's determinations.
- Preliminary approval subject to conditions: stormwater plan, SEQRA revisions, common area lot separation; final approval expected by end-2024.
- No service of petition yet; Article 78 proceeding may take two years or more due to appeals and pandemic court backlog.

## SEC filing metadata
- accession: 0001437749-22-010115
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2022-04-28T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774922010115/0001437749-22-010115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774922010115/gyrllc20220428_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-010115
- JSON: https://secwatch.observer/filing/0001437749-22-010115.json
- Plain text: https://secwatch.observer/filing/0001437749-22-010115.txt

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