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Gyrodyne, LLC Provides Update on Property Sales, Financials, and Governance
GYRO
Legal Proceedings
New Projects/Investments
Guidance Update
- Gyrodyne, LLC entered into an agreement in July 2025 for the sale of 49 undeveloped acres of its Flowerfield complex for an estimated gross closing price of $28.74 million, with the sale anticipated to close at the end of 2027, contingent on litigation settlement and site plan approval.
- The company's estimated liquidating distributions per share decreased to $14.83 as of Q2 2025, from a proforma $15.98 as of December 2023, primarily due to an extended timeline for property sales.
- For the first six months of 2025, costs in excess of operating receipts were approximately $700,000, contributing to a forecasted annual burn rate of $1.5 million (excluding land development and Article 78 related litigation expenses).
- Gyrodyne has implemented corporate governance and compensation changes, including reducing its Board size to 4 members and capping the Chairman's fee at $65,000, while also reducing full-time employees to three.
Nov 5, 2025, 4:30 PM
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