Gyrodyne(US:GYRO) Globenewswire·2025-08-04 16:46Core Viewpoint - Gyrodyne, LLC has entered into a purchase and sale agreement for approximately 49 acres of vacant land in St. James, New York, with a projected sale price of up to $28.74 million, which is expected to enhance the company's asset value and align with community needs for assisted living facilities [1][2][3]. Group 1: Agreement Details - The purchase price range for the property is set between $24 million and $28.74 million, with the final amount estimated at $28.74 million based on current conditions [2]. - The agreement includes customary representations, warranties, and covenants, and has been filed with the SEC [4]. Group 2: Strategic Implications - The CEO of Gyrodyne stated that this agreement is a significant milestone in executing the company's strategic plan and aims to maximize shareholder value [3]. - The transaction is expected to enhance the marketability and value of the adjacent industrial park at Flowerfield, while also addressing the community's need for assisted living facilities [3]. Group 3: Financial Impact - Following the agreement, Gyrodyne estimates its net asset value (NAV) in liquidation as of June 30, 2025, to be approximately $32.6 million, reflecting an increase of $1.8 million or $0.84 per share, which is a 6% increase from the previous NAV [3]. Group 4: Company Overview - Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties, including office, industrial, and service-oriented properties in the New York metropolitan area [5]. - The company is actively seeking value-enhancing entitlements for its properties, including a medical office park in Cortlandt Manor, New York [5].