---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-002016"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2023-01-30T23:59:59+00:00"
generated_at: "2026-06-20T06:37:22.202428+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001437749-23-002016
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2023-01-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774923002016/0001437749-23-002016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774923002016/gyrllc20230129_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-002016
- JSON: https://secwatch.observer/filing/0001437749-23-002016.json
- Plain text: https://secwatch.observer/filing/0001437749-23-002016.txt

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