Welcome to our dedicated page for Gyrodyne news (Ticker: GYRO), a resource for investors and traders seeking the latest updates and insights on Gyrodyne stock.
Gyrodyne, LLC (NASDAQ: GYRO) is an owner and manager of real estate properties in the New York metropolitan area, with assets that include a 63-acre mixed-use site at Flowerfield on Long Island and a medical office park in Cortlandt Manor, New York. The company’s news flow reflects its focus on property entitlements, asset sales, capital raising and governance developments.
On this page, readers can follow transaction-related announcements such as Gyrodyne’s purchase and sale agreement for approximately 49 acres of vacant land within the Flowerfield complex in St. James, New York. Company releases describe how such agreements relate to its strategic plan and estimated net asset value in liquidation.
Gyrodyne also issues legal and regulatory updates, including decisions affecting zoning and subdivision approvals. For example, the company has reported on a New York Supreme Court ruling that dismissed a petition challenging the Town of Smithtown Planning Board’s approval of an eight-lot subdivision of the Flowerfield property, which Gyrodyne characterized as a major milestone for its plans.
Investors can review capital markets news such as the commencement and closing of a rights offering registered on Form S-1, in which existing shareholders were granted subscription rights to purchase additional common shares. Gyrodyne has explained how proceeds from the rights offering are intended to support entitlements, litigation expenses, property transactions, capital improvements and working capital during its liquidation process.
In addition, Gyrodyne’s news includes corporate governance and shareholder engagement items, including agreements with activist funds like Star Equity Fund, LP and Leap Tide Capital Management LLC, changes to board composition, director compensation arrangements and standstill provisions. For ongoing context on GYRO’s real estate strategy, property-level milestones and shareholder-related developments, this news feed aggregates the company’s public announcements over time.
Gyrodyne (Nasdaq: GYRO) announced an agreement with Star Equity Fund dated October 17, 2025 that ends Star Equity’s director nominations for the 2025 annual meeting and reduces the board from five to four directors. The company will freeze director compensation and cap aggregate fees to the Chairman at $65,000. In connection with the board reduction, Richard Smith will be the sole nominee at the 2025 meeting. Star Equity agreed to customary standstill provisions and the full agreement will be filed on Form 8-K. The release thanks departing director Paul Lamb for 28 years of service and frames the deal as part of efforts to strengthen governance while pursuing a sale of properties to maximize shareholder value.
Gyrodyne (NASDAQ:GYRO) has announced a significant real estate transaction as part of its strategic liquidation plan. The company's subsidiary, GSD Flowerfield, has entered into an agreement to sell a 49-acre parcel in Smithtown, New York to B2K Smithtown LLC for a purchase price ranging from $24 million to $28.74 million, with the final price estimated at $28.74 million.
The transaction has positively impacted Gyrodyne's net asset value (NAV), increasing it to approximately $32.6 million ($14.83 per share) as of June 30, 2025, representing a 6% increase from the previous quarter's NAV of $30.8 million ($14.01 per share). The property is planned for assisted living facilities development, with over 40% to be preserved as open space.
Gyrodyne, (NASDAQ: GYRO) announced a favorable ruling by the New York Supreme Court in an Article 78 Proceeding. The court dismissed a petition against Gyrodyne's eight-lot subdivision approval of its Flowerfield property, affirming that the Planning Board conducted a thorough environmental review. This decision enhances clarity for potential buyers and supports Gyrodyne's marketing efforts led by JLL Capital Markets.
Gyrodyne is now focusing on securing final approvals and conducting a national marketing campaign to sell its properties with approved entitlements, aiming to maximize shareholder value. The company owns a 63-acre site on Long Island and a medical office park in Cortlandt Manor, NY, both subject to value-enhancing entitlement plans.
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Gyrodyne, LLC (NASDAQ: GYRO) received a MOD designation for its mixed-use 154,000 square foot property in Cortlandt Manor, New York, as approved by the Town's Board on March 20, 2023. This zoning reclassification paves the way for enhanced economic development, including medical infrastructure, job creation, and housing options. The property includes 150,000 square feet for medical use and 4,000 square feet for retail. Gyrodyne aims to maximize property value and seeks a timely sale with minimized risk. The MOD adoption marks an important eight-year collaboration between Gyrodyne and local authorities.
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