Gyrodyne cuts preliminary net assets in liquidation estimate to $10.75 per share
GYRO•Gyrodyne estimated net assets in liquidation of $10.75 per share as of September 30, 2026, down from $12.30 on June 30, primarily reflecting a lower estimated Flowerfield sale value.
1. Lower liquidation estimate
Gyrodyne’s preliminary estimate of net assets in liquidation fell by $3.4 million, primarily because of a lower estimated Flowerfield sale value, net of termination costs, under a potential sale to New York State. Negotiations contemplate terminating the B2K sale agreement if the state transaction is completed, but neither agreement is definitive.
2. Possible sale timing
A sale to the state could close in the second half of 2027, while the B2K transaction could be delayed beyond 2028 or fail. Gyrodyne continues to target completion of liquidation by December 31, 2028.
