Every 10-Q that Gyrodyne, LLC (GYRO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, 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 reports net assets in liquidation of $27,055,247 as of June 30, 2026, up from $25,858,997 at December 31, 2025. On 2,199,308 shares outstanding, this equates to estimated liquidating distributions of about $12.30 per share, versus $11.76 previously.
The increase of $1,196,250 in estimated liquidating value reflects employee restructuring savings of roughly $620,000, lower-than-forecast expenses, reduced Cortlandt Manor entitlement budget, and higher forecast rent from new leases. Total assets are $57.9 million, including $54.0 million of real estate held for sale and $3.8 million of cash; liabilities total $30.9 million, with loans payable of $10.7 million and estimated liquidation and operating costs of $15.3 million.
The company continues its plan to entitle and sell its Flowerfield and Cortlandt Manor properties and then dissolve, targeting completion around 2028. It has a purchase and sale agreement for a Flowerfield parcel with an estimated gross value of $28.74 million, subject to subdivision, site plan and other approvals, and faces ongoing Article 78 appellate proceedings and rising tenant concentration, including one major tenant in default.
Gyrodyne, LLC reports net assets in liquidation of $25.9 million as of March 31, 2026, up modestly after a $65,005 favorable variance versus forecast. This equates to estimated liquidating distributions of about $11.79 per common share, compared with $11.76 at year-end 2025, based on 2,199,308 shares.
Real estate held for sale is carried at $54.0 million, while estimated liquidation and operating costs net of receipts total about $16.7 million over the remaining wind‑down. The company continues to pursue entitlements and sales of its Flowerfield and Cortlandt Manor properties and targets completing its liquidation in 2028.
Gyrodyne highlights a purchase and sale agreement for a roughly 49‑acre Flowerfield parcel valued at up to $28.74 million, subject to subdivision, site plan approvals and a $4.02 million sewer and infrastructure credit. One major tenant representing about 10% of rental income is in lease default, which may trigger temporary revenue loss and re‑leasing costs if not cured.
Gyrodyne (GYRO) reported Q3 2025 results under the liquidation basis. Net assets in liquidation were $32,378,669, up from $30,596,313. Based on 2,199,308 shares outstanding, this equates to estimated liquidating distributions of $14.72 per share versus $13.91 at year-end 2024.
The quarter reflects a signed, contingent sale contract for approximately 49 acres at Flowerfield: the B2K Agreement at a purchase price between $24,000,000 and $28,740,000, with management estimating $28,740,000 subject to subdivision and site plan approvals. The investigation period was extended to December 5, 2025. Management continues to target completing liquidation in 2027.
On the balance sheet, real estate held for sale was $54,890,000, cash and cash equivalents $5,106,711, loans payable $10,945,203, and estimated liquidation and operating costs net of estimated receipts $12,273,245. The Company notes available cash resources sufficient to fund operations for approximately 18 months absent additional asset sales. Litigation on the Flowerfield subdivision advanced with prior dismissal of the petition and ongoing appeals, while a cooperation agreement with Star Equity limits proxy activity through specified dates.
Gyrodyne (GYRO) continues to report under the liquidation basis. As of 30 Jun 2025, net assets in liquidation rose 6.6 % to $32.6 m (vs. $30.6 m at 31 Dec 2024) driven chiefly by a $4.5 m upward revaluation of real estate, partially offset by a $2.6 m increase in estimated liquidation/operating costs. Estimated shareholder distributions improved to $14.83 per share from $13.91.
Balance sheet: Real estate held for sale increased to $54.9 m (+9 %), cash slipped to $5.5 m (-7 %). Total liabilities edged up to $27.9 m, with loans outstanding at $11.0 m; all debt covenants remain compliant.
Strategy & milestones: Management still targets full liquidation by year-end 2027. A key catalyst is the July 2025 Purchase & Sale Agreement to dispose of 49 acres at Flowerfield for $24-28.74 m, contingent on subdivision and site-plan approvals; closing could extend into 2028. Entitlement work on both Flowerfield and Cortlandt Manor continues amid pending Article 78 appeals.
Risks & liquidity: Cash on hand covers roughly 18 months of projected burn; further asset sales or financing will be required if timelines slip. Operating losses are expected until closings occur. Activist shareholder Star Equity has nominated two directors for the 2025 AGM, introducing governance uncertainty.