Gyrodyne CEO letter outlines progress on entitlements, targets dissolution by end of 2024

Gyrodyne, LLC

Total real estate assets $42.5M, debt $9.8M, loan-to-value 23% as of Q3 2022.
Flowerfield subdivision approval contested via Article 78 proceeding; final approval expected Q3 2023, sale by year-end 2024.
Cortlandt Manor MOD approval expected Q1 2023; occupancy 92% with investment-grade tenants; NewYork-Presbyterian increased to 72%.
Cumulative $147M distributed to shareholders since 1996 (over 1,000% of 1996 market cap of $13M).

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