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Gyrodyne Company Of America ( (GYRO) ) has shared an update.
GSD Flowerfield LLC, a wholly owned subsidiary of Gyrodyne, LLC, and B2K Smithtown LLC have entered into a Second Amendment dated January 6, 2026, to their July 30, 2025 Purchase and Sale Agreement for Lots 1 and 3 of the Flowerfield property, under which Gyrodyne will credit B2K $1.52 million at closing for specified on-site improvements while B2K assumes responsibility for all common facilities and offsite work. The amendment confirms that B2K’s investigation period and related termination right have expired, clarifies the handling of title objections raised in December 2025, and sets a February 5–6, 2026 window to resolve third-party land use covenants, after which B2K must either terminate and reclaim its deposit or be deemed to accept the covenants, leaving most contract terms unchanged and prompting Gyrodyne to note that any impact on the Flowerfield property’s value and liquidation net assets is not yet determinable.
More about Gyrodyne Company Of America
Gyrodyne, LLC, through its wholly owned subsidiary GSD Flowerfield LLC, is a New York-based real estate owner and developer focused on the Flowerfield property, where it sells and entitles subdivided lots for development, including Lots 1 and 3 that are subject to a sale agreement with B2K Smithtown LLC.
Average Trading Volume: 2,609
Technical Sentiment Signal: Sell
Current Market Cap: $20.51M
For detailed information about GYRO stock, go to TipRanks’ Stock Analysis page.