secwatch.observer — SEC 8-K summary
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Issuer:     Gyrodyne, LLC (GYRO)
CIK:        0001589061
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001437749-23-002016
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589061/000143774923002016/0001437749-23-002016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589061/000143774923002016/gyrllc20230129_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-002016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer