---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-021235"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2022-08-24T23:59:59+00:00"
generated_at: "2026-06-23T21:44:13.558304+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 rises to $15.50; expects Cortlandt entitlements Q4 2022, Smithtown litigation into 2024

## Summary
- NAV per share $15.50 as of June 30, 2022, up $0.33 from Dec 31, 2020; real estate value up $3.99M offset by $3.5M higher liquidation costs.
- Cortlandt Manor FEIS acceptance expected Q4 2022; subdivision and site plan approval anticipated Q1 2023.
- Smithtown preliminary subdivision approved March 2022; Article 78 proceeding filed April 2022; resolution expected by late 2024.
- Projected 2022 rental revenue ~$3M (+13% YoY); 59% from NY State, Stony Brook, and NY Presbyterian Hudson Valley.
- New $4.95M term loan at adjustable rate (currently 3.75%); Flowerfield loans converted to fixed 3.85%.

## SEC filing metadata
- accession: 0001437749-22-021235
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2022-08-24T23:59:59+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/1589061/000143774922021235/0001437749-22-021235-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774922021235/gyrllc20220823_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-021235
- JSON: https://secwatch.observer/filing/0001437749-22-021235.json
- Plain text: https://secwatch.observer/filing/0001437749-22-021235.txt

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