---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-000422"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T04:40:28.116329+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gyrodyne secures $1.5M term mortgage loan for working capital

## Summary
- Principal $1.5M from LLYR Resources, LLC; two-year term, floating rate at 1.5% above Wall Street Prime Rate.
- Loan secured by first mortgages on Cortlandt Manor, NY properties (1989 & 1987 Crompond Rd; 206 Buttonwood Ave & vacant land).
- Company unconditionally guarantees the loan; net proceeds used for general working capital.
- Interest payable monthly; loan may be prepaid in whole or in part without prepayment fee.

## SEC filing metadata
- accession: 0001437749-24-000422
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774924000422/0001437749-24-000422-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774924000422/gyrllc20240103_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-000422
- JSON: https://secwatch.observer/filing/0001437749-24-000422.json
- Plain text: https://secwatch.observer/filing/0001437749-24-000422.txt

## Key facts
- Material Agreements
  Gyrodyne, LLC entered into Mortgage Loan with LLYR Resources, LLC valued at $1,500,000 (effective 2023-12-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: LLYR Resources, LLC
  - Value: $1,500,000
  - Effective: 2023-12-27
  source text: the Company, through its subsidiaries GSD Cortlandt, LLC (“GSD Cortlandt”) and Buttonwood Acquisition, LLC (“Buttonwood”), secured a term mortgage loan (the “Mortgage Loan”) on December 27, 2023 in the principal amount of $1,500,000 with LLYR Resources, LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1589061/000143774924000422/0001437749-24-000422-index.htm

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