The Eagle Flies in New York

Remember the Gyrodyne case? That was the one in which the New York State University took  245.5 acres of Gyrodyne’s land in 2005 for its Stonybrook campus expansion, and deposited $26.3 million. Nice try. It turned out that the value determined by New York courts was much highher ($98.8 million) and with interest and costs it came to $167.5 million, which we are informed by Long Island Business News has just been paid to Gyrodyne. David Winzelberg,  libn.com, NY State Pays $167.5M Gyrodyne Settlement, July 7, 2012. Click here .