---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-031299"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2024-10-16T23:59:59+00:00"
generated_at: "2026-05-30T13:43:14.537285+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-031299
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2024-10-16T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774924031299/0001437749-24-031299-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774924031299/gyrllc20241015_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-031299
- JSON: https://secwatch.observer/filing/0001437749-24-031299.json
- Plain text: https://secwatch.observer/filing/0001437749-24-031299.txt

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