Gyrodyne LLC

gyrodyne.com

Gyrodyne LLC (NASDAQ: GYRO) is a real estate company operating under a plan of liquidation, holding and managing two remaining properties while pursuing entitlement approvals to maximize sale proceeds for distribution to shareholders. Revenue comes from rental income collected at Flowerfield, an industrial park in St. James, New York, and Cortlandt Manor Medical Center in Cortlandt Manor, New York, while the company simultaneously pursues subdivision entitlements to increase the development value of those properties before sale. The company operates on a liquidation basis of accounting, with net assets in liquidation of $25,858,997 as of December 31, 2025, equating to estimated distributions of approximately $11.76 per common share based on 2,199,308 shares outstanding. Management targets completion of the liquidation by December 31, 2028. The three largest tenants, a medical tenant at Cortlandt Manor Medical Center, a New York State Agency at the industrial park, and an athletics facility at the industrial park, represented approximately 26%, 19%, and 11% of total rental income, respectively, for the year ended December 31, 2025.