Here are the 10-K annual reports from Gyrodyne, LLC (GYRO) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow GYRO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GYRO filings page.
Gyrodyne, LLC is pursuing a liquidation strategy centered on its two remaining properties, Flowerfield and Cortlandt Manor, by securing zoning entitlements, selling the real estate, and distributing proceeds to shareholders. The company intends to complete this process by the end of 2028.
As of December 31, 2025, estimated net assets were $25.9 million, implying potential future distributions of $11.76 per common share based on 2,199,308 shares outstanding. This estimate reflects expected asset sale proceeds, entitlement costs, operating and liquidation expenses, and a planned credit of $4,020,222 for infrastructure under a major Flowerfield sale agreement.
Gyrodyne’s largest pending transaction is a Purchase and Sale Agreement for about 49 acres at Flowerfield with B2K Smithtown LLC, with an estimated gross value of up to $28,740,000, contingent on subdivision and site plan approvals and other conditions. The company expects subdivision approvals for Flowerfield in 2026 and Cortlandt Manor in 2027, but acknowledges entitlement, legal, market and macroeconomic risks that could delay sales or reduce proceeds.
The business currently generates rental income from largely medical and industrial tenants, with both Flowerfield and Cortlandt Manor 82% occupied at year-end 2025. Management states that additional capital will likely be needed to fund operations through 2028 absent timely property sales or loan modifications, and it has several term loans and a deferred compensation plan outstanding while also benefiting from a 2024 rights offering that raised approximately $4.4 million.