Gyrodyne LLC Announces Sale of 49-Acre Parcel in Smithtown, NY, as Part of Strategic Liquidation Plan

Reuters

08/05

Gyrodyne LLC Announces Sale of 49-Acre Parcel in Smithtown, NY, as Part of Strategic Liquidation Plan

Gyrodyne, LLC, a real estate portfolio manager, has announced a significant transaction involving the sale of a 49-acre parcel of land in St. James, New York, as part of its strategic liquidation plan. The property, located within the Flowerfield complex, is being sold to B2K Smithtown LLC for a price range of $24 million to $28.74 million, with the final amount contingent on specific conditions. The transaction aligns with Gyrodyne's commitment to maximizing shareholder value and is expected to boost the marketability of the nearby industrial park. The proposed development by B2K will include assisted living facilities, preserving over 40% of the land as open space, which aligns with community values. This deal is expected to enhance the net asset value of Gyrodyne, reflecting a 6% increase from the previous quarter.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gyrodyne LLC published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-25-024553), on August 04, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gyrodyne LLC published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-25-024553), on August 04, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GYRO","symbol_name":"旋翼物業","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250804:nNDL4Ft229:1","article_id":"2557333947","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2557333947","pubTimestamp":1754325771,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Gyrodyne, LLC, a real estate portfolio manager, has announced a significant transaction involving the sale of a 49-acre parcel of land in St. James, New York, as part of its strategic liquidation plan. 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