Gyrodyne to sell land in New York as part of liquidation plan
Sale Agreement Announcement: Gyrodyne's subsidiary, GSD Flowerfield, has entered into a purchase agreement to sell approximately 49 acres of vacant land in St. James, NY, to B2K Smithtown LLC for an estimated final price of $28.74 million, which is expected to increase the company's net asset value significantly.
Community and Strategic Impact: The transaction is seen as a key step in Gyrodyne's strategic plan to maximize shareholder value, with plans for assisted living facilities that align with community needs while preserving over 40% of the property as open space.
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GYRODYNE, LLC ANNOUNCES AGREEMENT TO SELL 49-ACRE PARCEL IN SMITHTOWN, NEW YORK AS PART OF STRATEGIC LIQUIDATION PLAN
Sale Agreement Announcement: Gyrodyne, LLC has entered into a purchase agreement to sell approximately 49 acres of vacant land in St. James, New York, to B2K Smithtown LLC for a price estimated between $24 million and $28.74 million, which is expected to enhance the value of their adjacent industrial park and contribute positively to the local community.
Financial Impact and Future Outlook: Following the agreement, Gyrodyne estimates an increase in its net asset value (NAV) to approximately $32.6 million, reflecting a 6% rise from previous reports, while emphasizing the importance of aligning development with community values and needs.
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New York Supreme Court Rules in Favor of Gyrodyne in Article 78 Proceeding
Court Ruling in Favor of Gyrodyne: The New York Supreme Court dismissed a petition against Gyrodyne's eight-lot subdivision approval for its Flowerfield property, affirming the Planning Board's decision and addressing environmental concerns.
Future Development Plans: Gyrodyne is moving forward with marketing its properties and securing final approvals to maximize shareholder value, following the court's ruling which enhances clarity for potential buyers.
GYRODYNE ANNOUNCES COMMENCEMENT OF RIGHTS OFFERING
GYRODYNE ANNOUNCES RECORD DATE FOR PROPOSED RIGHTS OFFERING
Robinhood Shares Surge Over 7%; Check Out 20 Stocks Making Moves in Premarket Trading
Robinhood's Market Movement: Robinhood Markets, Inc. shares surged 7.4% in pre-market trading after being announced as a replacement for Caesars Entertainment in the S&P 500, effective September 22.
Other Notable Gainers: Several stocks saw significant pre-market gains, including Eightco Holdings (up 142.1%), Gyrodyne (up 82.1%), and Forward Industries (up 78.8%).
Pre-Market Losers: Citius Oncology experienced a 25% drop, while MEI Pharma and CNFinance also saw declines of 19.3% and 18.8%, respectively, in pre-market trading.
Market Overview: The article provides a snapshot of various stocks' performances, highlighting both significant gainers and losers in the pre-market trading session.
GYRODYNE, LLC ANNOUNCES AGREEMENT TO SELL 49-ACRE PARCEL IN SMITHTOWN, NEW YORK AS PART OF STRATEGIC LIQUIDATION PLAN
Sale Agreement Announcement: Gyrodyne, LLC has entered into a purchase agreement to sell approximately 49 acres of vacant land in St. James, New York, to B2K Smithtown LLC for a price estimated between $24 million and $28.74 million, which is expected to enhance the value of their adjacent industrial park and contribute positively to the local community.
Financial Impact and Future Outlook: Following the agreement, Gyrodyne estimates an increase in its net asset value (NAV) to approximately $32.6 million, reflecting a 6% rise from previous reports, while emphasizing the importance of aligning development with community values and needs.
Why CommScope Shares Are Trading Higher By Around 40%; Here Are 20 Stocks Moving Premarket
CommScope Stock Surge: Shares of CommScope Holding Company rose 40.1% in pre-market trading after reports that Amphenol is close to acquiring its Broadband arm.
Market Movements: Several other stocks experienced significant changes, with Psyence Biomedical gaining 116.4%, while Replimune Group saw a decline of 38% in pre-market trading.
New York Supreme Court Rules in Favor of Gyrodyne in Article 78 Proceeding
Court Ruling in Favor of Gyrodyne: The New York Supreme Court dismissed a petition against Gyrodyne's eight-lot subdivision approval for its Flowerfield property, affirming the Planning Board's decision and addressing environmental concerns.
Future Development Plans: Gyrodyne is moving forward with marketing its properties and securing final approvals to maximize shareholder value, following the court's ruling which enhances clarity for potential buyers.
GYRODYNE ANNOUNCES COMMENCEMENT OF RIGHTS OFFERING
GYRODYNE ANNOUNCES RECORD DATE FOR PROPOSED RIGHTS OFFERING
