secwatch.observer — SEC 8-K summary
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Issuer:     Gyrodyne, LLC (GYRO)
CIK:        0001589061
Form:       8-K
Filed at:   2022-08-24T23:59:59+00:00
Accession:  0001437749-22-021235
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 rises to $15.50; expects Cortlandt entitlements Q4 2022, Smithtown litigation into 2024
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589061/000143774922021235/0001437749-22-021235-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589061/000143774922021235/gyrllc20220823_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-021235

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