---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-001119"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2026-01-12T23:59:59+00:00"
generated_at: "2026-05-16T10:52:25.886282+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Gyrodyne amends Flowerfield sale agreement with $1.52M credit, extends covenant deadline to Feb 5, 2026

## Summary
- Second Amendment provides $1,520,222 credit to B2K for on-site improvements on Lots 1 and 3 of Flowerfield.
- Investigation period expired; B2K's right to terminate under Section 3.1(D) is null and void.
- Parties must resolve third-party land use covenants by Feb 5, 2026; B2K may terminate if unresolved.
- Sanitary flow chart revised, allocating all remaining sanitary flow to B2K except for Lots 1-3.
- Company states impact on timeline and net asset value is premature to determine due to covenant uncertainty.

## SEC filing metadata
- accession: 0001437749-26-001119
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2026-01-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774926001119/0001437749-26-001119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774926001119/gyrllc20260112_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-001119
- JSON: https://secwatch.observer/filing/0001437749-26-001119.json
- Plain text: https://secwatch.observer/filing/0001437749-26-001119.txt

## Key facts
- Material Agreements
  Gyrodyne, LLC amended Second Amendment with B2K Smithtown LLC valued at $1,520,222 (effective 2026-01-06).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: B2K Smithtown LLC
  - Value: $1,520,222
  - Effective: 2026-01-06
  source text: GSD Flowerfield LLC, a New York limited liability company (“GSD”) and wholly-owned subsidiary of Gyrodyne, LLC, a New York limited liability company (the “Company”), and B2K Smithtown LLC, a Delaware limited liability company (“B2K”), have entered into a Second Amendment dated as of January 6, 2026 (the “Second Amendment”) to the Purchase and Sale Agreement effective as of July 30, 2025 (the “Purchase Agreement”) between GSD and B2K.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1589061/000143774926001119/0001437749-26-001119-index.htm

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