NY Supreme Court dismisses Article 78 petition against Gyrodyne's Flowerfield subdivision approval

Gyrodyne, LLC

On October 11, 2024, the NY Supreme Court ruled in favor of Gyrodyne, dismissing the Article 78 petition challenging the 8-lot subdivision of its Flowerfield property.
Justice Maureen T. Liccione found the petition defective and the Planning Board took the requisite hard look under SEQRA.
Gyrodyne continues seeking final subdivision approval and is conducting a national marketing effort via JLL Capital Markets to sell the property with entitlements.
CEO Gary Fitlin called the decision a major milestone that reaffirms the company's commitment to unlocking Flowerfield's value for shareholders.

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