Gyrodyne is a New York LLC in the final stages of a planned liquidation, owning two remaining real estate properties in New York that it is working to sell before distributing proceeds to shareholders and dissolving. The first property is Flowerfield, a 63-acre site in St. James, NY, comprising a 135,000 rentable square foot multi-tenant light industrial park (82% occupied, ~$1.47M annual base rent) and ~49 acres of vacant land under a purchase and sale agreement with developer B2K Smithtown for between $24M and $28.7M. The second property is Cortlandt Manor, a 13.8-acre site in Westchester County with a 31,421 square foot medical office complex (82% occupied, ~$872K annual base rent) located opposite New York Presbyterian's Hudson Valley Hospital Center, and zoned to allow up to 154,000 square feet of medical and retail development. Gyrodyne's strategy is to obtain full entitlements — subdivision and site plan approvals — before selling, on the basis that development-ready land commands higher prices. Rental income (~$2.3M combined annual base rent) funds operating costs during the wind-down, but property sales are the primary value driver for shareholders. Gyrodyne estimates distributing approximately $11.76 per share upon completion of the liquidation, which it targets by year-end 2028.