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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/07/21 Gyrodyne, LLC 10-Q 3/31/21 57:2.8M RDG Filings/FA |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 292K
2: EX-31.1 Certification -- §302 - SOA'02 HTML 20K
3: EX-32.1 Certification -- §906 - SOA'02 HTML 18K
10: R1 Document And Entity Information HTML 49K
11: R2 Consolidated Statements of Net Assets (Liquidation HTML 60K
Basis) (Current Period Unaudited)
12: R3 Consolidated Statement of Changes in Net Assets HTML 25K
(Liquidation Basis) (Unaudited)
13: R4 Note 1 - The Company HTML 27K
14: R5 Note 2 - Basis of Quarterly Presentations HTML 21K
15: R6 Note 3 - Summary of Significant Accounting HTML 31K
Policies
16: R7 Note 4 - Statements of Net Assets in Liquidation HTML 34K
17: R8 Note 5 - Estimated Liquidation and Operating Costs HTML 49K
Net of Estimated Receipts
18: R9 Note 6 - Disposition Activities HTML 26K
19: R10 Note 7 - Loans Payable HTML 40K
20: R11 Note 8 - Accounts Payable and Accrued Liabilities HTML 38K
21: R12 Note 9 - Income Taxes HTML 24K
22: R13 Note 10 - Credit Quality of Rents Receivable HTML 21K
23: R14 Note 11 - Concentration of Credit Risk HTML 24K
24: R15 Note 12 - Commitments HTML 43K
25: R16 Note 13 - Contingencies HTML 22K
26: R17 Note 14 - Fair Value of Financial Instruments HTML 27K
27: R18 Note 15 - COVID-19 HTML 27K
28: R19 Note 16 - Related Party Transactions HTML 36K
29: R20 Note 17 - Subsequent Events HTML 20K
30: R21 Significant Accounting Policies (Policies) HTML 49K
31: R22 Note 5 - Estimated Liquidation and Operating Costs HTML 45K
Net of Estimated Receipts (Tables)
32: R23 Note 7 - Loans Payable (Tables) HTML 26K
33: R24 Note 8 - Accounts Payable and Accrued Liabilities HTML 36K
(Tables)
34: R25 Note 12 - Commitments (Tables) HTML 31K
35: R26 Note 16 - Related Party Transactions (Tables) HTML 30K
36: R27 Note 1 - The Company (Details Textual) HTML 32K
37: R28 Note 3 - Summary of Significant Accounting HTML 18K
Policies (Details Textual)
38: R29 Note 4 - Statements of Net Assets in Liquidation HTML 48K
(Details Textual)
39: R30 Note 5 - Estimated Liquidation and Operating Costs HTML 20K
Net of Estimated Receipts (Details Textual)
40: R31 Note 5 - Estimated Liquidation and Operating Costs HTML 74K
Net of Estimated Receipts - Changes in Liability
for Estimated Costs in Excess of Estimated
Receipts (Details)
41: R32 Note 6 - Disposition Activities (Details Textual) HTML 24K
42: R33 Note 7 - Loans Payable (Details Textual) HTML 79K
43: R34 Note 7 - Loan Payable - Loan Maturity (Details) HTML 32K
44: R35 Note 8 - Accounts Payable and Accrued Liabilities HTML 17K
(Details Textual)
45: R36 Note 8 - Accounts Payable and Accrued Liabilities HTML 31K
- Accounts Payable and Accrued Liabilities
(Details)
46: R37 Note 9 - Income Taxes (Details Textual) HTML 17K
47: R38 Note 11 - Concentration of Credit Risk (Details HTML 32K
Textual)
48: R39 Note 12 - Commitments (Details Textual) HTML 46K
49: R40 Note 12 - Commitments - Other Commitments HTML 21K
(Details)
50: R41 Note 12 - Commitments - Allocation of Retention HTML 26K
Bonus (Details)
51: R42 Note 15 - COVID-19 (Details Textual) HTML 26K
52: R43 Note 16 - Related Party Transactions (Details HTML 30K
Textual)
53: R44 Note 16 - Related Party Transactions - Summary of HTML 30K
Leasing Arrangements (Details)
54: R45 Note 17 - Subsequent Events (Details Textual) HTML 21K
56: XML IDEA XML File -- Filing Summary XML 104K
55: EXCEL IDEA Workbook of Financial Reports XLSX 52K
4: EX-101.INS XBRL Instance -- gyro-20210331 XML 632K
6: EX-101.CAL XBRL Calculations -- gyro-20210331_cal XML 45K
7: EX-101.DEF XBRL Definitions -- gyro-20210331_def XML 804K
8: EX-101.LAB XBRL Labels -- gyro-20210331_lab XML 553K
9: EX-101.PRE XBRL Presentations -- gyro-20210331_pre XML 812K
5: EX-101.SCH XBRL Schema -- gyro-20210331 XSD 154K
57: ZIP XBRL Zipped Folder -- 0001437749-21-011258-xbrl Zip 90K
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| <gyro:AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnFirstTenPercentOfPropertyAppreciation contextRef="i_2014-05-31" decimals="4" id="c73123523" unitRef="xbrli-pure"> 0.1 </gyro:AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnFirstTenPercentOfPropertyAppreciation> | |||||||||||||||||||||
| <gyro:AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnPropertyAppreciationGreaterThanTwentyPercent contextRef="i_2014-05-31" decimals="4" id="c73123528" unitRef="xbrli-pure"> 0.2 </gyro:AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnPropertyAppreciationGreaterThanTwentyPercent> | |||||||||||||||||||||
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| <gyro:AnnualRent contextRef="d_2019-02-01_2019-02-28_LeaseContractualTermAxis-LeaseTermAugust2016ThroughDecember2018Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123601" unitRef="iso4217-usd"> 18170 </gyro:AnnualRent> | |||||||||||||||||||||
| <gyro:AnnualRent contextRef="d_2021-01-01_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember2020Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123615" unitRef="iso4217-usd"> 19414 </gyro:AnnualRent> | |||||||||||||||||||||
| <gyro:AnnualRent contextRef="d_2021-01-01_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember20201Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" id="c73123618" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:AnnualRent contextRef="d_2021-01-01_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember20202Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123621" unitRef="iso4217-usd"> 16193 </gyro:AnnualRent> | |||||||||||||||||||||
| <gyro:BonusPoolDistributionProportions contextRef="i_2014-05-31_TitleOfIndividualAxis-BoardOfDirectorsChairmanMember" decimals="4" id="c73123530" unitRef="xbrli-pure"> 0.15 </gyro:BonusPoolDistributionProportions> | |||||||||||||||||||||
| <gyro:BonusPoolDistributionProportions contextRef="i_2014-05-31_TitleOfIndividualAxis-Other5DirectorsMember" decimals="4" id="c73123531" unitRef="xbrli-pure"> 0.1 </gyro:BonusPoolDistributionProportions> | |||||||||||||||||||||
| <gyro:BonusPoolDistributionProportions contextRef="i_2014-05-31_TitleOfIndividualAxis-ExecutivesAndEmployeesMember" decimals="4" id="c73123533" unitRef="xbrli-pure"> 0.0175 </gyro:BonusPoolDistributionProportions> | |||||||||||||||||||||
| <gyro:BonusPoolFundingAsPercentageOfAppraisedValueOfContributedProperties contextRef="i_2014-05-31" decimals="4" id="c73123519" unitRef="xbrli-pure"> 0.05 </gyro:BonusPoolFundingAsPercentageOfAppraisedValueOfContributedProperties> | |||||||||||||||||||||
| <gyro:DebtInstrumentAmortizationPeriod contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember_VariableRateAxis-FederalHomeLoanBankRateMember" id="c73123390"> P20Y </gyro:DebtInstrumentAmortizationPeriod> | |||||||||||||||||||||
| <gyro:DebtInstrumentAmortizationPeriod contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember" id="c73123417"> P20Y </gyro:DebtInstrumentAmortizationPeriod> | |||||||||||||||||||||
| <gyro:DebtInstrumentInterestAndPrincipalPhaseTerm contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember" id="c73123378"> P7Y </gyro:DebtInstrumentInterestAndPrincipalPhaseTerm> | |||||||||||||||||||||
| <gyro:DebtInstrumentInterestAndPrincipalPhaseTerm contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member" id="c73123403"> P7Y </gyro:DebtInstrumentInterestAndPrincipalPhaseTerm> | |||||||||||||||||||||
| <gyro:DebtInstrumentInterestOnlyPhaseTerm contextRef="d_2018-03-21_2018-03-21_CreditFacilityAxis-NonrevolvingCreditLineMember" id="c73123376"> P240D </gyro:DebtInstrumentInterestOnlyPhaseTerm> | |||||||||||||||||||||
| <gyro:DebtInstrumentInterestOnlyPhaseTerm contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member" id="c73123402"> P2Y </gyro:DebtInstrumentInterestOnlyPhaseTerm> | |||||||||||||||||||||
| <gyro:DebtInstrumentInterestOnlyPhaseTerm contextRef="d_2020-03-26_2020-07-16_CreditFacilityAxis-NonrevolvingCreditLine3Member" id="c73123426"> P2Y </gyro:DebtInstrumentInterestOnlyPhaseTerm> | |||||||||||||||||||||
| <gyro:DeferredCompensationArrangementFixedInterestRate contextRef="i_2020-01-01" decimals="4" id="c73123545" unitRef="xbrli-pure"> 0.05 </gyro:DeferredCompensationArrangementFixedInterestRate> | |||||||||||||||||||||
| <gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage contextRef="i_2021-03-31_TitleOfIndividualAxis-BoardMembersMember" decimals="5" id="c73123554" unitRef="xbrli-pure"> 0.65 </gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage> | |||||||||||||||||||||
| <gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage contextRef="i_2021-03-31_TitleOfIndividualAxis-ChiefExecutiveOfficerMember" decimals="5" id="c73123555" unitRef="xbrli-pure"> 0.15474 </gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage> | |||||||||||||||||||||
| <gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage contextRef="i_2021-03-31_TitleOfIndividualAxis-ChiefOperatingOfficerMember" decimals="5" id="c73123556" unitRef="xbrli-pure"> 0.13926 </gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage> | |||||||||||||||||||||
| <gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage contextRef="i_2021-03-31_TitleOfIndividualAxis-OfficerMember" decimals="5" id="c73123557" unitRef="xbrli-pure"> 0.0175 </gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage> | |||||||||||||||||||||
| <gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage contextRef="i_2021-03-31_TitleOfIndividualAxis-OtherEmployeesMember" decimals="5" id="c73123558" unitRef="xbrli-pure"> 0.0385 </gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage> | |||||||||||||||||||||
| <gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage contextRef="i_2021-03-31" decimals="5" id="c73123559" unitRef="xbrli-pure"> 1 </gyro:DefinedBenefitPlanDistretionaryBonusPoolPercentage> | |||||||||||||||||||||
| <gyro:DirectorFeesDeferredPercentage contextRef="d_2021-01-01_2021-03-31" decimals="0" id="c73123451" unitRef="xbrli-pure"> 1 </gyro:DirectorFeesDeferredPercentage> | |||||||||||||||||||||
| <gyro:DirectorFeesDeferredPercentage contextRef="d_2020-01-01_2020-03-31" decimals="0" id="c73123452" unitRef="xbrli-pure"> 1 </gyro:DirectorFeesDeferredPercentage> | |||||||||||||||||||||
| <gyro:EffectOfCovid19PandemicTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844586"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">15.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div></div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic and the various governmental and market responses intended to contain and mitigate the spread of the virus and its detrimental public health impact, as well as the general uncertainty surrounding the dangers and impact of the pandemic, continue to have a significant impact on the U.S. economy, including the real estate market. To date, the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic has impacted operations of our existing properties, and we believe it has had an impact on our strategic plan to enhance the value of our properties and sell them at higher prices. In particular, the pandemic has reduced the gross profit from operations and has been a significant factor in prolonging the entitlement process. We believe it was also a major factor leading to the termination in the <div style="display: inline; font-style: italic; font: inherit;">first</div> quarter by the purchasers in <div style="display: inline; font-style: italic; font: inherit;">two</div> purchase agreements for the sale of portions of our Cortlandt Manor and Flowerfield Properties.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The U.S economy has been growing as COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> vaccinations are increasingly administered, commercial activities increasingly return to pre-pandemic practices and operations, and as a result of recent and expected future government spending on COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic relief, infrastructure and other matters. However, there remains uncertainty as to the ultimate duration and severity of the pandemic on commercial activities, including risks that <div style="display: inline; font-style: italic; font: inherit;"> may </div>arise from mutations or related strains of the virus, and the ability to successfully administer vaccinations to a sufficient number of persons or attain immunity to the virus by natural or other means to achieve herd immunity. As a result, we are unable to determine what the ultimate impact will be on our and our tenants' businesses, operations, financial results and financial position. For more information and risks relating to the pandemic on us and our business, see “Part I, Item <div style="display: inline; font-style: italic; font: inherit;">2,</div> Management's Discussion and Analysis of Financial Condition and Results of Operations – COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> Pandemic” and Part I, Item <div style="display: inline; font-style: italic; font: inherit;">1A,</div> “Risk Factors”, of our Annual Report for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Beginning <div style="display: inline; font-style: italic; font: inherit;"> March 16, 2020, </div>the Company's employees began temporarily working remotely to ensure their and their family's safety and well-being. The Company's technology infrastructure, for some time, has been set up to handle offsite seamless operations to respond to disaster recovery disruption. As a result, all employees will continue to work remotely unless they report needing sick leave or family leave pursuant to regulated benefits.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Small businesses have been and are expected to continue to be adversely affected disproportionately by the economic ramifications of COVID-<div style="display: inline; font-style: italic; font: inherit;">19.</div> In terms of its own tenants, the Company deems as small businesses those that are neither part of or affiliated with Stony Brook University or SBU Hospital, non-medical offices and <div style="display: inline; font-style: italic; font: inherit;">not</div>-for-profit corporations, which in the aggregate account for approximately <div style="display: inline; font-style: italic; font: inherit;">37%</div> (<div style="display: inline; font-style: italic; font: inherit;">$776,000</div>) of the Company's projected annual rental revenues for <div style="display: inline; font-style: italic; font: inherit;">2021.</div> Although it is difficult to estimate the duration and full extent of the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic, its impact on our future results could be significant and will largely depend on future developments which are highly uncertain and cannot be predicted, including new information which <div style="display: inline; font-style: italic; font: inherit;"> may </div>emerge concerning the severity of the novel coronavirus, risks that <div style="display: inline; font-style: italic; font: inherit;"> may </div>arise from mutations or related strains of the virus, the success of actions taken to contain or treat COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> and reactions by real estate developers and investors, consumers, companies, governmental entities and capital markets. We are actively working with our tenants to manage and mitigate the impact of COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> on the Company's operations, liquidity and resulting Net Asset Value.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> public health crisis has also adversely impacted the timeline to secure entitlements and the sale of our real estate. Furthermore, the real estate market is also being adversely affected which could further negatively impact the timing of sales and the resulting value of our real estate.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The extent of the impact of COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> on the Company's operational and financial performance and ultimately its Net Asset Value, will depend on current and future developments, including the duration and spread of the outbreak and related governmental or other regulatory actions and the effectiveness of the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> vaccine program. In addition, the pandemic has resulted in a seismic shift toward commercial acceptance of remote working and telemedicine which <div style="display: inline; font-style: italic; font: inherit;"> may </div>adversely impact our occupancy rate and average rate per square foot. The Company's ability to operate seamlessly and limit any adverse impact on its forecasted net asset value will also depend, in part, on whether any of its key employees or key advisers are infected by the Coronavirus and become ill from COVID-<div style="display: inline; font-style: italic; font: inherit;">19.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div></div> </gyro:EffectOfCovid19PandemicTextBlock> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedCorporateExpenditures contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123341" unitRef="iso4217-usd"> 6344342 </gyro:LiquidationBasisOfAccountingAccruedCorporateExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedCorporateExpenditures contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123344" unitRef="iso4217-usd"> 5738814 </gyro:LiquidationBasisOfAccountingAccruedCorporateExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedLandEntitlementCosts contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123337" unitRef="iso4217-usd"> 1490699 </gyro:LiquidationBasisOfAccountingAccruedLandEntitlementCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedLandEntitlementCosts contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123340" unitRef="iso4217-usd"> 1316604 </gyro:LiquidationBasisOfAccountingAccruedLandEntitlementCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedPropertyOperatingExpenses contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123329" unitRef="iso4217-usd"> 3061404 </gyro:LiquidationBasisOfAccountingAccruedPropertyOperatingExpenses> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedPropertyOperatingExpenses contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123332" unitRef="iso4217-usd"> 2646458 </gyro:LiquidationBasisOfAccountingAccruedPropertyOperatingExpenses> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedRealEstateSellingCosts contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123345" unitRef="iso4217-usd"> 3057997 </gyro:LiquidationBasisOfAccountingAccruedRealEstateSellingCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedRealEstateSellingCosts contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123348" unitRef="iso4217-usd"> 3075497 </gyro:LiquidationBasisOfAccountingAccruedRealEstateSellingCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedRentAndReimbursements contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123324" unitRef="iso4217-usd"> 4926648 </gyro:LiquidationBasisOfAccountingAccruedRentAndReimbursements> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedRentAndReimbursements contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123327" unitRef="iso4217-usd"> 4341341 </gyro:LiquidationBasisOfAccountingAccruedRentAndReimbursements> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedRetentionBonusPaymentsToExecutivesAndOtherEmployees contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123349" unitRef="iso4217-usd"> 2913480 </gyro:LiquidationBasisOfAccountingAccruedRetentionBonusPaymentsToExecutivesAndOtherEmployees> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingAccruedRetentionBonusPaymentsToExecutivesAndOtherEmployees contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123352" unitRef="iso4217-usd"> 2913480 </gyro:LiquidationBasisOfAccountingAccruedRetentionBonusPaymentsToExecutivesAndOtherEmployees> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingChangeInLiabilityForEstimatedCostsInExcessOfEstimatedReceiptsTableTextBlock contextRef="d_2021-01-01_2021-03-31" id="c-2"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: "Times New Roman"; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">January 1, 2021</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Expenditures/</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Receipts)</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Remeasurement of</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Assets and Liabilities</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">March 31, 2021</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Assets:</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 13%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Estimated rents and reimbursements</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">4,926,648</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(634,806</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">49,499</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">4,341,341</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Liabilities:</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 13%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Property operating costs</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(3,061,404</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">431,814</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(16,868</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(2,646,458</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Common area capital expenditures</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(460,638</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">16,038</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(444,600</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Land entitlement costs</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(1,490,699</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">174,095</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(1,316,604</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)*</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Corporate expenditures</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(6,344,342</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">548,544</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">56,984</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(5,738,814</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Selling costs on real estate assets</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(3,057,997</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(17,500</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(3,075,497</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;">Retention bonus payments to Directors, executives and employees**</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(2,913,480</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(2,913,480</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;">Less prepaid expenses and other assets</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">848,972</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">25,335</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">874,307</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;">Liability for estimated liquidation and operating costs net of estimated receipts</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">(11,552,940</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">561,020</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">72,115</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">(10,919,805</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table></div> </gyro:LiquidationBasisOfAccountingChangeInLiabilityForEstimatedCostsInExcessOfEstimatedReceiptsTableTextBlock> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingChangeInLiquidationValueOfRealEstate contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" id="c73126426" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingCommonAreaExpenditures contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123333" unitRef="iso4217-usd"> 460638 </gyro:LiquidationBasisOfAccountingCommonAreaExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingCommonAreaExpenditures contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123336" unitRef="iso4217-usd"> 444600 </gyro:LiquidationBasisOfAccountingCommonAreaExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingCommonStockPerShare contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123310" unitRef="iso4217-usd-per-xbrli-shares"> 15.22 </gyro:LiquidationBasisOfAccountingCommonStockPerShare> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingCommonStockPerShare contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123311" unitRef="iso4217-usd-per-xbrli-shares"> 15.17 </gyro:LiquidationBasisOfAccountingCommonStockPerShare> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingCommonStockPerShareNet contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123278" unitRef="iso4217-usd-per-xbrli-shares"> 15.22 </gyro:LiquidationBasisOfAccountingCommonStockPerShareNet> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingCommonStockPerShareNet contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123279" unitRef="iso4217-usd-per-xbrli-shares"> 15.17 </gyro:LiquidationBasisOfAccountingCommonStockPerShareNet> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingIncreaseDecreaseInPrepaidExpensesAndOtherAssets contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123354" unitRef="iso4217-usd"> -25335 </gyro:LiquidationBasisOfAccountingIncreaseDecreaseInPrepaidExpensesAndOtherAssets> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingLandEntitlementCosts contextRef="d_2021-04-01_2022-12-31_StatementScenarioAxis-ScenarioForecastMember" decimals="INF" id="c73123297" unitRef="iso4217-usd"> 1300000 </gyro:LiquidationBasisOfAccountingLandEntitlementCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurred contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123300" unitRef="iso4217-usd"> 174000 </gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurred> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurred contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-ClosingOfTheFirstPropertyLotSaleSubjectOfEitherFlowerfieldOrCortlandtManorSubidivisionMember" decimals="INF" id="c73123318" unitRef="iso4217-usd"> 1300000 </gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurred> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurredAmountDeferred contextRef="d_2021-04-01_2022-12-31_StatementScenarioAxis-ScenarioForecastMember" decimals="INF" id="c73123302" unitRef="iso4217-usd"> 257000 </gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurredAmountDeferred> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurredAmountDeferred contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-ClosingOfTheFirstPropertyLotSaleSubjectOfEitherFlowerfieldOrCortlandtManorSubidivisionMember" decimals="INF" id="c73123317" unitRef="iso4217-usd"> 257000 </gyro:LiquidationBasisOfAccountingLandEntitlementCostsIncurredAmountDeferred> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingLiabilityForEstimatedCostsInExcessOfReceiptsTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844571"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">5.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Estimated Liquidation and Operating Costs Net of Estimated Receipts</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The liquidation basis of accounting requires the Company to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation. The Company currently estimates that it will incur liquidation and operating costs net of estimated receipts during the liquidation period, excluding the net proceeds from the real estate sales. These amounts can vary significantly due to, among other things, land entitlement costs, the timing and estimates for executing and renewing leases, capital expenditures to maintain the real estate at its current estimated realizable value and estimates of tenant improvement costs, the timing of property sales and any direct/indirect costs incurred that are related to the sales (e.g., retention bonuses on the sale of the Cortlandt Manor and Flowerfield properties, costs to address buy side due diligence inclusive of administrative fees, legal fees and property costs to address items arising from such due diligence and <div style="display: inline; font-style: italic; font: inherit;">not</div> previously known), the timing and amounts associated with discharging known and contingent liabilities and the costs associated with the winding up of operations. These costs are estimated and are anticipated to be paid during the liquidation period.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The change in the liability for estimated operating costs in excess of estimated receipts during liquidation from <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2021 </div>through <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>has been calculated as follows:</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: "Times New Roman"; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">January 1, 2021</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Expenditures/</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Receipts)</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0); width: 1%; padding: 0px;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Remeasurement of</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Assets and Liabilities</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">March 31, 2021</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Assets:</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 13%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Estimated rents and reimbursements</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">4,926,648</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(634,806</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">49,499</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">4,341,341</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Liabilities:</div> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 13%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 11%;"> </td> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Property operating costs</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(3,061,404</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">431,814</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(16,868</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(2,646,458</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Common area capital expenditures</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(460,638</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">16,038</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(444,600</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Land entitlement costs</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(1,490,699</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">174,095</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(1,316,604</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)*</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Corporate expenditures</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(6,344,342</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">548,544</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">56,984</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(5,738,814</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Selling costs on real estate assets</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(3,057,997</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(17,500</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(3,075,497</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;">Retention bonus payments to Directors, executives and employees**</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(2,913,480</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">(2,913,480</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;">Less prepaid expenses and other assets</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">848,972</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">25,335</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">874,307</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman"; font-size: 10pt; width: 42%;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;">Liability for estimated liquidation and operating costs net of estimated receipts</div> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">(11,552,940</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">561,020</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">72,115</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">(10,919,805</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman"; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">* The Company reached agreements with certain service vendors to defer payment of approximately <div style="display: inline; font-style: italic; font: inherit;">$257,000</div> of the <div style="display: inline; font-style: italic; font: inherit;">$1.3</div> million until the closing of the <div style="display: inline; font-style: italic; font: inherit;">first</div> property lot sale that is the subject of either the Flowerfield or Cortlandt Manor subdivision, respectively.</div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">** The amounts reported are based on the provisions of the retention bonus plan and the reported amount of the real estate assets estimated net realizable value. Based on the estimated real estate value of the Cortlandt property, aggregate proceeds from the sale of the <div style="display: inline; font-style: italic; font: inherit;">two</div> Cortlandt lots would <div style="display: inline; font-style: italic; font: inherit;">not</div> exceed the adjusted floor under the retention bonus plan and therefore the above table only reflects the projected bonus from the sale of the Flowerfield property.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div></div> </gyro:LiquidationBasisOfAccountingLiabilityForEstimatedCostsInExcessOfReceiptsTextBlock> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingNetIncreaseDecreaseInLiquidationValue contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123281" unitRef="iso4217-usd"> 72115 </gyro:LiquidationBasisOfAccountingNetIncreaseDecreaseInLiquidationValue> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingNetIncreaseDecreaseInLiquidationValuePerShare contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123282" unitRef="iso4217-usd-per-xbrli-shares"> 0.05 </gyro:LiquidationBasisOfAccountingNetIncreaseDecreaseInLiquidationValuePerShare> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingPolicyTextBlock contextRef="d_2021-01-01_2021-03-31" id="c73123255"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Basis of Presentation - Liquidation Basis of Accounting </div></div>– Under the liquidation basis of accounting the consolidated balance sheet and consolidated statements of operations, equity, comprehensive income and cash flows are <div style="display: inline; font-style: italic; font: inherit;">no</div> longer presented. The consolidated statements of net assets and the consolidated statements of changes in net assets are the principal financial statements presented under the liquidation basis of accounting.</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Under the liquidation basis of accounting, all the Company's assets have been stated at their estimated net realizable value, or liquidation value, (which represents the estimated amount of cash that Gyrodyne will collect on the disposal of assets as it carries out the plan of liquidation), which is based on current contracts, estimates and other indications of sales value (predicated on current values). All liabilities of the Company, including those estimated costs associated with implementing the plan of liquidation, have been stated at their estimated settlement amounts. These amounts are presented in the accompanying statements of net assets. These estimates are periodically reviewed and adjusted as appropriate. There can be <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance that these estimated values will be realized. Such amounts should <div style="display: inline; font-style: italic; font: inherit;">not</div> be taken as an indication of the timing or amount of future distributions or our actual dissolution. The valuation of assets at their net realizable value and liabilities at their anticipated settlement amount represent estimates, based on present facts and circumstances, of the net realizable value of the assets and the costs associated with carrying out the plan of liquidation. The actual values and costs associated with carrying out the plan of liquidation <div style="display: inline; font-style: italic; font: inherit;"> may </div>differ from amounts reflected in the accompanying consolidated financial statements because of the plan's inherent uncertainty. These differences <div style="display: inline; font-style: italic; font: inherit;"> may </div>be material. In particular, the estimates of our costs will vary with the length of time necessary to complete the plan of liquidation, which is currently anticipated to be completed by <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022. </div>The Company is in the process of pursuing entitlements and density approvals, and our ability to obtain required permits and authorizations is subject to factors beyond our control, including environmental concerns of governmental entities, community groups and purchasers. The process will involve extensive analysis internally at the government entity level, as well as between government entities such as town planning departments and Gyrodyne and or purchasers and will continue up until such time as entitlement and density decisions are made by the relevant government entities. The Company hopes to secure favorable decisions on entitlements and density so that we can then seek the sale of our remaining properties at higher prices than those achievable under their current entitlements and then proceed with the liquidation and dissolution of the Company. Any deviation in use or density between what we are pursuing in our entitlement efforts and what is ultimately permitted could have a material impact on value. The Company expects the process of pursuing entitlements, density approvals, sales, liquidation and dissolution could extend through <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022 </div>with the ultimate timing to a certain extent managed by Gyrodyne but also dependent upon and under the control of the applicable municipality's planning board or other governmental authority and or purchasers. Accordingly, it is <div style="display: inline; font-style: italic; font: inherit;">not</div> possible to predict with certainty the timing or aggregate amount which <div style="display: inline; font-style: italic; font: inherit;"> may </div>ultimately be distributed to common shareholders and <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance can be given that the distributions will equal or exceed the estimate presented in the accompanying consolidated statements of net assets.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company's assumptions and estimates (including the sales proceeds of all its real estate holdings, selling costs, retention bonus payments, rental revenues, rental expenses, capital expenditures, land entitlement costs, general and administrative fees, director and officer liability and reimbursement, post liquidation insurance tail coverage policy and final liquidation costs) are based on completing the liquidation by <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022. </div>As previously stated, on an ongoing basis, Gyrodyne evaluates the estimates and assumptions that can have a significant impact on the reported net assets in liquidation and will update respective information accordingly for any costs and value associated with a change in the duration of the liquidation, as we cannot give any assurance on the timing of the ultimate sale of all the Company's properties.</div></div></div></div></div></div></div></div></div></div> </gyro:LiquidationBasisOfAccountingPolicyTextBlock> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingPrepaidExpensesAndOtherAssets contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123353" unitRef="iso4217-usd"> -848972 </gyro:LiquidationBasisOfAccountingPrepaidExpensesAndOtherAssets> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingPrepaidExpensesAndOtherAssets contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123356" unitRef="iso4217-usd"> 874307 </gyro:LiquidationBasisOfAccountingPrepaidExpensesAndOtherAssets> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedCorporateExpenditures contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123342" unitRef="iso4217-usd"> -548544 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedCorporateExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedInvestmentOfRealEstate contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123325" unitRef="iso4217-usd"> 634806 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedInvestmentOfRealEstate> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedLandEntitlementCosts contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123338" unitRef="iso4217-usd"> -174095 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedLandEntitlementCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedPropertyOperatingCosts contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123330" unitRef="iso4217-usd"> -431814 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedPropertyOperatingCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedRetentionBonusPaymentsToExecutivesAndOtherEmployees contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" id="c73123350" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedSellingCostsOnRealEstateAssets contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" id="c73123346" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAssetCommonAreaExpenditures contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" id="c73123335" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAssetInvestmentOfRealEstate contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123326" unitRef="iso4217-usd"> -49499 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnAssetInvestmentOfRealEstate> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnCommonAreaExpenditures contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123334" unitRef="iso4217-usd"> -16038 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnCommonAreaExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiability contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73126428" unitRef="iso4217-usd"> 72115 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiability> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilityCorporateExpenditures contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123283" unitRef="iso4217-usd"> 56984 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilityCorporateExpenditures> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilityLandEntitlementCosts contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" id="c73123339" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilityPropertyOperatingCosts contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123285" unitRef="iso4217-usd"> -16868 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilityPropertyOperatingCosts> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilityRetentionBonusPaymentsToExecutivesAndOtherEmployees contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" id="c73123351" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilitySellingCostsOnRealEstateAssets contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123286" unitRef="iso4217-usd"> -17500 </gyro:LiquidationBasisOfAccountingRemeasurementGainLossOnLiabilitySellingCostsOnRealEstateAssets> | |||||||||||||||||||||
| <gyro:MaximumValueOfAssetToEffectDissolution contextRef="d_2021-01-01_2021-03-31_BusinessAcquisitionAxis-TheCorporationMember" decimals="INF" id="c73123239" unitRef="iso4217-usd"> 1000000 </gyro:MaximumValueOfAssetToEffectDissolution> | |||||||||||||||||||||
| <gyro:MaximumValueOfAssetToEffectDissolution contextRef="d_2015-09-01_2015-09-01_BusinessAcquisitionAxis-TheCorporationMember" decimals="-6" id="c73123260" unitRef="iso4217-usd"> 1000000 </gyro:MaximumValueOfAssetToEffectDissolution> | |||||||||||||||||||||
| <gyro:NumberOfMajorCustomers contextRef="d_2021-01-01_2021-03-31_ConcentrationRiskByTypeAxis-RentalIncomeMember" decimals="INF" id="c73123502" unitRef="xbrli-pure"> 3 </gyro:NumberOfMajorCustomers> | |||||||||||||||||||||
| <gyro:OperatingLeasesAdditionalCommitment contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermAugust2016ThroughDecember2018Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123607" unitRef="iso4217-usd"> 36340 </gyro:OperatingLeasesAdditionalCommitment> | |||||||||||||||||||||
| <gyro:OperatingLeasesMaximumTotalLeaseCommitment contextRef="i_2019-02-28_LeaseContractualTermAxis-LeaseTermAugust2016ThroughDecember2018Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123602" unitRef="iso4217-usd"> 36340 </gyro:OperatingLeasesMaximumTotalLeaseCommitment> | |||||||||||||||||||||
| <gyro:PaymentForRetentionBonusPlan contextRef="d_2020-01-01_2020-12-31" decimals="INF" id="c73123543" unitRef="iso4217-usd"> 0 </gyro:PaymentForRetentionBonusPlan> | |||||||||||||||||||||
| <gyro:RentAmountPerSquareFootPerMonthMaximum contextRef="d_2019-02-01_2019-02-28_LeaseContractualTermAxis-LeaseTermAugust2016ThroughDecember2018Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123600" unitRef="xbrli-pure"> 10 </gyro:RentAmountPerSquareFootPerMonthMaximum> | |||||||||||||||||||||
| <gyro:SaleOfRealEstatePropertyPurchasePrice contextRef="i_2021-04-26_SubsequentEventTypeAxis-SubsequentEventMember_TypeOfArrangementAxis-SaleOfVacantLandMember" decimals="INF" id="c73123626" unitRef="iso4217-usd"> 500000 </gyro:SaleOfRealEstatePropertyPurchasePrice> | |||||||||||||||||||||
| <gyro:ScheduleOfAllocationOfBonusPoolPercentageTableTextBlock contextRef="d_2021-01-01_2021-03-31" id="c-6"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="2pt" cellspacing="0pt" style="margin-right: 10%; margin-left: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: 1px; border-style: solid; border-color: black black rgb(0, 0, 0); width: 72%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Board Members/Employees</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: 1px solid black;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">Bonus Pool Percentage</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: 1px solid black; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Board Members(a)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">65.000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Chief Executive Officer</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">15.474</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Chief Operations Officer</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">13.926</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Officer Discretionary Amount (b)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">1.750</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Other Employees</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">3.850</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">100.000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black;">%</td> </tr> </table></div> </gyro:ScheduleOfAllocationOfBonusPoolPercentageTableTextBlock> | |||||||||||||||||||||
| <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844576"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">8.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Accounts payable and Accrued Liabilities</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div> <table cellpadding="2pt" cellspacing="0pt" style="margin-right: auto; margin-left: 18pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: thin 1px 1px; border-style: solid; border-color: rgb(0, 0, 0) black; width: 20%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 15%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Accounts Payable</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 15%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Accrued Liabilities</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">March 31, 2021</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">December 31, 2020</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">March 31, 2021</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">December 31, 2020</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Current accounts payable</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">277,029</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">241,963</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">Accrued liabilities</div></div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">186,185</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">188,554</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black; vertical-align: top;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Other accounts payable (a)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">717,040</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">651,220</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">Deferred Compensation to Directors (b)</div></div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">463,338</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">368,372</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">994,069</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">893,183</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">Total</div></div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">649,523</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">556,926</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table> </div> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt;"> </td> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(a)</div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The Company reached agreements with certain service vendors to defer payment until the closing of the <div style="display: inline; font-style: italic; font: inherit;">first</div> property lot sale that is the subject of either the Flowerfield or Cortlandt Manor subdivision, respectively.</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt;"> </td> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(b)</div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The director fees and interest accrued under the deferred Compensation Plan where each director elected to defer <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div> of his fees for <div style="display: inline; font-style: italic; font: inherit;">2021</div> and <div style="display: inline; font-style: italic; font: inherit;">2020.</div> This amount also includes the deferred compensation of a Board advisor per an agreement to defer payments due.</div> </td> </tr> </table></div> </us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:AccountsPayableCurrent contextRef="i_2021-03-31" decimals="INF" id="c73123465" unitRef="iso4217-usd"> 277029 </us-gaap:AccountsPayableCurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableCurrent contextRef="i_2020-12-31" decimals="INF" id="c73123466" unitRef="iso4217-usd"> 241963 </us-gaap:AccountsPayableCurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123639" unitRef="iso4217-usd"> 994069 </us-gaap:AccountsPayableCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123640" unitRef="iso4217-usd"> 893183 </us-gaap:AccountsPayableCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="i_2021-03-31" decimals="INF" id="c73123475" unitRef="iso4217-usd"> 994069 </us-gaap:AccountsPayableCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="i_2020-12-31" decimals="INF" id="c73123476" unitRef="iso4217-usd"> 893183 </us-gaap:AccountsPayableCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableOtherCurrentAndNoncurrent contextRef="i_2021-03-31" decimals="INF" id="c73123470" unitRef="iso4217-usd"> 717040 </us-gaap:AccountsPayableOtherCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccountsPayableOtherCurrentAndNoncurrent contextRef="i_2020-12-31" decimals="INF" id="c73123471" unitRef="iso4217-usd"> 651220 </us-gaap:AccountsPayableOtherCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccountsReceivableNet contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123633" unitRef="iso4217-usd"> 84383 </us-gaap:AccountsReceivableNet> | |||||||||||||||||||||
| <us-gaap:AccountsReceivableNet contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123634" unitRef="iso4217-usd"> 21849 </us-gaap:AccountsReceivableNet> | |||||||||||||||||||||
| <us-gaap:AccruedLiabilitiesCurrent contextRef="i_2021-03-31" decimals="INF" id="c73123468" unitRef="iso4217-usd"> 186185 </us-gaap:AccruedLiabilitiesCurrent> | |||||||||||||||||||||
| <us-gaap:AccruedLiabilitiesCurrent contextRef="i_2020-12-31" decimals="INF" id="c73123469" unitRef="iso4217-usd"> 188554 </us-gaap:AccruedLiabilitiesCurrent> | |||||||||||||||||||||
| <us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123641" unitRef="iso4217-usd"> 649523 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123642" unitRef="iso4217-usd"> 556926 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="i_2021-03-31" decimals="INF" id="c73123478" unitRef="iso4217-usd"> 649523 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="i_2020-12-31" decimals="INF" id="c73123479" unitRef="iso4217-usd"> 556926 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:AreaOfLand contextRef="i_2021-03-31_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis-CortlandtManorMedicalCenterMember" decimals="INF" id="c73123240" unitRef="utr-acre"> 13.8 </us-gaap:AreaOfLand> | |||||||||||||||||||||
| <us-gaap:AreaOfLand contextRef="i_2021-03-31_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis-ZonedResidentialAndNonContiguousToTheFlowerfieldPropertyMember" decimals="INF" id="c73123245" unitRef="utr-acre"> 5 </us-gaap:AreaOfLand> | |||||||||||||||||||||
| <us-gaap:AreaOfLand contextRef="i_2019-08-27_LongLivedAssetsHeldForSaleByAssetTypeAxis-FlowerfieldComplexInSmithtownNewYorkMember" decimals="INF" id="c73123362" unitRef="utr-acre"> 9 </us-gaap:AreaOfLand> | |||||||||||||||||||||
| <us-gaap:AreaOfLand contextRef="i_2019-12-07_LongLivedAssetsHeldForSaleByAssetTypeAxis-CortlandtManorPropertyInNewYorkMember" decimals="INF" id="c73123370" unitRef="utr-acre"> 4.5 </us-gaap:AreaOfLand> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis-CortlandtManorMedicalCenterMember" decimals="INF" id="c73123241" unitRef="utr-sqft"> 34000 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis-StJamesNewYorkMember_StatementScenarioAxis-ControlledByParentCompanyMember" decimals="INF" id="c73123242" unitRef="utr-acre"> 63 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis-MultiTenantIndustrialParkMember" decimals="INF" id="c73123243" unitRef="utr-acre"> 10 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis-FlowerfieldIndustrialParkMember" decimals="INF" id="c73123244" unitRef="utr-sqft"> 127000 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_CollateralAxis-RealEstateSecuringMortgageLoanMember_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis-FlowerfieldIndustrialParkMember" decimals="INF" id="c73123424" unitRef="utr-acre"> 31.8 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2020-07-16_CollateralAxis-RealEstateSecuringMortgageLoanMember_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis-CortlandtManorMedicalCenterMember" decimals="INF" id="c73123439" unitRef="utr-acre"> 13.8 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2020-07-16_CollateralAxis-RealEstateSecuringMortgageLoanMember_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis-FlowerfieldIndustrialParkMember" decimals="INF" id="c73123440" unitRef="utr-acre"> 31.8 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-04-26_SubsequentEventTypeAxis-SubsequentEventMember_TypeOfArrangementAxis-SaleOfVacantLandMember" decimals="INF" id="c73123624" unitRef="utr-acre"> 5 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember2020Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123614" unitRef="utr-sqft"> 2284 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember20201Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123617" unitRef="utr-sqft"> 1817 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:AreaOfRealEstateProperty contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember20202Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123620" unitRef="utr-sqft"> 1905 </us-gaap:AreaOfRealEstateProperty> | |||||||||||||||||||||
| <us-gaap:Assets contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123637" unitRef="iso4217-usd"> 41712608 </us-gaap:Assets> | |||||||||||||||||||||
| <us-gaap:Assets contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123638" unitRef="iso4217-usd"> 40907831 </us-gaap:Assets> | |||||||||||||||||||||
| <us-gaap:AssetsNet contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123276" unitRef="iso4217-usd"> 22560059 </us-gaap:AssetsNet> | |||||||||||||||||||||
| <us-gaap:AssetsNet contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123277" unitRef="iso4217-usd"> 22487944 </us-gaap:AssetsNet> | |||||||||||||||||||||
| <us-gaap:BasisOfAccounting contextRef="d_2021-01-01_2021-03-31" id="s1844568"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">2.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Basis of Quarterly Presentations</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The accompanying interim quarterly financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements of the Company included herein have been prepared by the Company pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all adjustments which are necessary to present fairly the results for the <div style="display: inline; font-style: italic; font: inherit;">three</div>-months ended <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations; however, management believes that the disclosures are adequate to make the information presented <div style="display: inline; font-style: italic; font: inherit;">not</div> misleading.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">This report should be read in conjunction with the audited consolidated financial statements and footnotes therein included in the Annual Report on Form <div style="display: inline; font-style: italic; font: inherit;">10</div>-K for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020.</div><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"> </div></div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div></div> </us-gaap:BasisOfAccounting> | |||||||||||||||||||||
| <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123629" unitRef="iso4217-usd"> 2369669 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
| <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123630" unitRef="iso4217-usd"> 1632231 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
| <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="d_2021-01-01_2021-03-31" id="c73123259"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Cash equivalents -</div></div> The Company considers all certificates of deposits, money market funds, treasury securities and other highly liquid debt instruments purchased with short-term maturities to be cash equivalents.</div></div></div></div></div></div></div> </us-gaap:CashAndCashEquivalentsPolicyTextBlock> | |||||||||||||||||||||
| <us-gaap:CommitmentsDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844581"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">12.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Commitments</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">As of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021, </div>other commitments and contingencies are summarized in the below table:</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div> <table cellpadding="2pt" cellspacing="0pt" style="margin-right: auto; margin-left: 36pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: 1px; border-style: solid; border-color: black black rgb(0, 0, 0); width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Management employment agreements with bonus* and severance commitment contingencies</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"><div style="display: inline; font-style: italic; font: inherit;">350,000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black; border-top: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; border-right: 1px solid black; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Other employee severance commitment contingencies</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">81,716</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; border-right: 1px solid black; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">431,716</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 50pt;"><div style="display: inline; font-style: italic;">*Excludes Retention Bonus Payments</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Employment agreements -</div></div> The Company has an employment agreement with its Chief Executive Officer. The agreement provides for a bonus of <div style="display: inline; font-style: italic; font: inherit;">$125,000</div> payable upon a change of control as defined in the agreement. In addition, the agreement provides for severance equivalent to <div style="display: inline; font-style: italic; font: inherit;">6</div> months of base salary and the vesting and related payment of the change of control bonus.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company also has an employment agreement with its Chief Operating Officer (“COO”) executed on <div style="display: inline; font-style: italic; font: inherit;"> May 8, 2014 </div>which provides for severance on a termination without cause equal to <div style="display: inline; font-style: italic; font: inherit;">6</div> months of base salary. On <div style="display: inline; font-style: italic; font: inherit;"> January 25, 2018, </div>Gyrodyne entered into an amendment to the employment agreement with the COO to define with greater specificity the COO's duties and responsibilities with respect to the Company's properties.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Under Company policy the aggregate severance commitment contingency to other employees is approximately <div style="display: inline; font-style: italic; font: inherit;">$81,716.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Retention Bonus Plan-</div></div> In <div style="display: inline; font-style: italic; font: inherit;"> May 2014, </div>the Board of Directors approved a retention bonus plan (as amended, the “Plan”) designed to recognize the nature and scope of the responsibilities of our directors, executives and employees related to the Company's strategic plan to enhance the property values, liquidate and dissolve, to reward and incent performance in connection therewith, to align the interests of directors, executives and employees with our shareholders and to retain such persons during the term of such plan. The Plan provides for bonuses to directors and to officers and employees determined by the gross sales proceeds from the sale of each property and the date of sale. The summary appearing below reflects the terms set forth in the Plan as modified by <div style="display: inline; font-style: italic; font: inherit;">three</div> amendments. There have been <div style="display: inline; font-style: italic; font: inherit;">no</div> further amendments to the terms of the Plan during the current reporting period.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Plan provides for a bonus pool funded with an amount equal to <div style="display: inline; font-style: italic; font: inherit;">5%</div> of the specified appraised value of such properties (set forth in the Plan), so long as the gross selling price of a property is at least equal to its <div style="display: inline; font-style: italic; font: inherit;">2013</div> appraised value as designated in the bonus plan. Additional funding of the bonus pool will occur on a property-by-property basis only if the gross sales price of a property exceeds the Adjusted Appraised Value defined as the sum of (i) its <div style="display: inline; font-style: italic; font: inherit;">2013</div> appraised value and (ii) land development costs incurred on a property since the date of the <div style="display: inline; font-style: italic; font: inherit;">2013</div> appraisal, as follows: <div style="display: inline; font-style: italic; font: inherit;">10%</div> on the <div style="display: inline; font-style: italic; font: inherit;">first</div> <div style="display: inline; font-style: italic; font: inherit;">10%</div> of appreciation, <div style="display: inline; font-style: italic; font: inherit;">15%</div> on the next <div style="display: inline; font-style: italic; font: inherit;">10%</div> of appreciation and <div style="display: inline; font-style: italic; font: inherit;">20%</div> on appreciation greater than <div style="display: inline; font-style: italic; font: inherit;">20%.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The bonus pool is distributable in the following proportions to the named participants in the bonus plan for so long as they are directors or employees of the Company:</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div> <table cellpadding="2pt" cellspacing="0pt" style="margin-right: 10%; margin-left: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: 1px; border-style: solid; border-color: black black rgb(0, 0, 0); width: 72%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Board Members/Employees</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: 1px solid black;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">Bonus Pool Percentage</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: 1px solid black; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Board Members(a)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">65.000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Chief Executive Officer</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">15.474</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Chief Operations Officer</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">13.926</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Officer Discretionary Amount (b)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">1.750</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Other Employees</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">3.850</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black;">%</td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 72%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 25%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">100.000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black;">%</td> </tr> </table> </div> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt;"> </td> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(a)</div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">15%</div> for the Chairman and <div style="display: inline; font-style: italic; font: inherit;">10%</div> for each of the other <div style="display: inline; font-style: italic; font: inherit;">five</div> directors.</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(b)</div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The officer discretionary amount of <div style="display: inline; font-style: italic; font: inherit;">1.75%</div> will be allocated to the officers within the discretion of the Board.</div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Such shares of the bonus pool are earned only upon the completion of the sale of a property at a gross selling price equal to or greater than its Adjusted Appraised Value and is paid to the named beneficiaries of the Plan or their designees within <div style="display: inline; font-style: italic; font: inherit;">60</div> days of the completion of such sale or, if later, within <div style="display: inline; font-style: italic; font: inherit;">60</div> days of receipt of any subsequent post-completion installment payment related to such sale.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Plan provides that <div style="display: inline; font-style: italic; font: inherit;">no</div> benefits are to be paid to participants from the sale of any individual post-subdivided lot from either of the Company's Flowerfield or Cortlandt Manor properties until aggregate sale proceeds from all sales of post-subdivided lots from such property exceed a designated aggregate floor for such property. The aggregate floor for each of the Flowerfield and Cortlandt Manor properties is defined in Amendment <div style="display: inline; font-style: italic; font: inherit;">No.</div> <div style="display: inline; font-style: italic; font: inherit;">3</div> to the Plan as the <div style="display: inline; font-style: italic; font: inherit;">2013</div> appraisal of such property plus land development costs incurred for such property since such appraisal.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Plan provides for vesting of benefits upon the sale of each individual post-subdivision lot at Flowerfield and Cortlandt Manor. It also provides for entitlement to a future benefit in the event of death, voluntary termination following substantial reduction in compensation or board fees, mutually agreed separation to right-size the board or involuntary termination without cause, except that a participant will only be eligible to receive a benefit to the extent that a property is sold within <div style="display: inline; font-style: italic; font: inherit;">three</div> years following the separation event and the sale produces an internal rate of return equal to at least <div style="display: inline; font-style: italic; font: inherit;">four</div> percent of the property's value as of <div style="display: inline; font-style: italic; font: inherit;"> December 31 </div>immediately preceding such event and that the sale exceeded the Adjusted Appraised Value.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Under the Plan, there were <div style="display: inline; font-style: italic; font: inherit;">no</div> payments made during the <div style="display: inline; font-style: italic; font: inherit;">three</div> months ended <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021.</div></div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Deferred Compensation Plan -</div></div><div style="display: inline; font-weight: bold;"> </div>On <div style="display: inline; font-style: italic; font: inherit;"> December 6, 2019, </div>the Company's Board of Directors approved the Gyrodyne, LLC Nonqualified Deferred Compensation Plan for Employees and Directors (the “DCP”) effective as of <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2020. </div>The DCP is a nonqualified deferred compensation plan maintained for officers and directors of the Company. Under the DCP, officers and directors <div style="display: inline; font-style: italic; font: inherit;"> may </div>elect to defer a portion of their compensation to the DCP and receive interest on such deferred payments at a fixed rate of <div style="display: inline; font-style: italic; font: inherit;">5%.</div> All DCP benefits will be paid in a single lump sum cash payment on <div style="display: inline; font-style: italic; font: inherit;"> December 15, 2026, </div>unless a Plan of Liquidation is established for Gyrodyne before the distribution date in which case all benefits will be paid in a single lump sum cash payment after execution of an amendment to terminate the DCP. Each of the Directors elected (under the DCP) to defer <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">100%</div></div> of their director fees for <div style="display: inline; font-style: italic; font: inherit;">2020</div> and <div style="display: inline; font-style: italic; font: inherit;">2021.</div></div></div> </us-gaap:CommitmentsDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:CommitmentsFairValueDisclosure contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermAugust2016ThroughDecember2018Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123606" unitRef="iso4217-usd"> 4543 </us-gaap:CommitmentsFairValueDisclosure> | |||||||||||||||||||||
| <us-gaap:CommonStockSharesOutstanding contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123280" unitRef="xbrli-shares"> 1482680 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
| <us-gaap:CommonStockSharesOutstanding contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123312" unitRef="xbrli-shares"> 1482680 </us-gaap:CommonStockSharesOutstanding> | |||||||||||||||||||||
| <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31_ConcentrationRiskByTypeAxis-CreditConcentrationRiskMember" id="s1844580"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">11.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Concentration of Credit Risk</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents. The Company places its temporary cash investments with high credit quality financial institutions and generally limits the amount of credit exposure in any <div style="display: inline; font-style: italic; font: inherit;">one</div> financial institution. The Company maintains bank account balances, which exceed insured limits. The Company has <div style="display: inline; font-style: italic; font: inherit;">not</div> experienced any losses in such accounts and believes that it is <div style="display: inline; font-style: italic; font: inherit;">not</div> exposed to any significant credit risk on cash. Management does <div style="display: inline; font-style: italic; font: inherit;">not</div> believe significant credit risk existed on <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>and <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020. </div>As the Company executes on the sale of its assets, its regional concentration in tenants will lessen thereby resulting in the increased credit risk from exposure of the local economies.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">For the <div style="display: inline; font-style: italic; font: inherit;">three</div> months ended <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>rental income from the Company's <div style="display: inline; font-style: italic; font: inherit;">three</div> largest tenants represented approximately <div style="display: inline; font-style: italic; font: inherit;">24%,</div> <div style="display: inline; font-style: italic; font: inherit;">17%</div> and <div style="display: inline; font-style: italic; font: inherit;">9%</div> of total rental income. The <div style="display: inline; font-style: italic; font: inherit;">three</div> largest tenants by revenue as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>consist of Stony Brook University Hospital located in the industrial park, the Westchester Medical Practice in the Cortlandt Manor Medical Center and Apex Gymnastics Athletics Inc. in the industrial park.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The current economic challenges facing state and local budgets impacted most of the Company's largest tenants. In addition, the current economic challenges stemming from the coronavirus are disproportionately impacting <div style="display: inline; font-style: italic; font: inherit;">not</div>-for-profit tenants and tenants that are neither medical offices nor part of or affiliated with SBU or SBU Hospital which together comprise <div style="display: inline; font-style: italic; font: inherit;">37%</div> of our expected <div style="display: inline; font-style: italic; font: inherit;">2021</div> rental revenue. There can be <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance that the Company's leases will renew for the same square footage, at favorable rates net of tenant improvements, if at all.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div></div> </us-gaap:ConcentrationRiskDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:ConcentrationRiskPercentage1 contextRef="d_2021-01-01_2021-03-31_ConcentrationRiskByBenchmarkAxis-RentalIncomeMember_ConcentrationRiskByTypeAxis-CustomerConcentrationRiskMember_MajorCustomersAxis-Customer1Member" decimals="INF" id="c73123503" unitRef="xbrli-pure"> 0.24 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
| <us-gaap:ConcentrationRiskPercentage1 contextRef="d_2021-01-01_2021-03-31_ConcentrationRiskByBenchmarkAxis-RentalIncomeMember_ConcentrationRiskByTypeAxis-CustomerConcentrationRiskMember_MajorCustomersAxis-Customer2Member" decimals="INF" id="c73123504" unitRef="xbrli-pure"> 0.17 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
| <us-gaap:ConcentrationRiskPercentage1 contextRef="d_2021-01-01_2021-03-31_ConcentrationRiskByBenchmarkAxis-RentalIncomeMember_ConcentrationRiskByTypeAxis-CustomerConcentrationRiskMember_MajorCustomersAxis-Customer3Member" decimals="INF" id="c73123505" unitRef="xbrli-pure"> 0.09 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
| <us-gaap:ConcentrationRiskPercentage1 contextRef="d_2021-01-01_2021-12-31_ConcentrationRiskByBenchmarkAxis-RentalIncomeMember_ConcentrationRiskByTypeAxis-CustomerConcentrationRiskMember_MajorCustomersAxis-SmallBusinessesAndNotforProfitCorporationsMember_StatementScenarioAxis-ScenarioForecastMember" decimals="INF" id="c73123508" unitRef="xbrli-pure"> 0.37 </us-gaap:ConcentrationRiskPercentage1> | |||||||||||||||||||||
| <us-gaap:ConsolidationPolicyTextBlock contextRef="d_2021-01-01_2021-03-31" id="c73123253"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Principles of Consolidation -</div></div> The consolidated financial statements include the accounts of Gyrodyne and all subsidiaries. All consolidated subsidiaries are wholly owned. All inter-company balances and transactions have been eliminated.</div></div></div></div></div></div></div> </us-gaap:ConsolidationPolicyTextBlock> | |||||||||||||||||||||
| <us-gaap:DebtDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844574"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">7.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Loans Payable</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company secured a non-revolving credit line for up to <div style="display: inline; font-style: italic; font: inherit;">$3,000,000</div> (the “Original Line”) with a bank, which closed on <div style="display: inline; font-style: italic; font: inherit;"> March 21, 2018. </div>The original line included an interest only phase for the <div style="display: inline; font-style: italic; font: inherit;">first</div> <div style="display: inline; font-style: italic; font: inherit;">eight</div> months of the loan (as amended the “Interest-Only Phase”). The Company amended and extended the Original Line which included extending the conversion date of the Interest-Only Phase to the earlier of <div style="display: inline; font-style: italic; font: inherit;"> April 30, 2021 </div>or upon drawing down a total of <div style="display: inline; font-style: italic; font: inherit;">$3,000,000</div> after which it automatically converts to a permanent loan maturing on the earlier of <div style="display: inline; font-style: italic; font: inherit;"> April 30, 2028 </div>or <div style="display: inline; font-style: italic; font: inherit;">84</div> months after conversion to a permanent loan (the “Permanent Phase”). The interest rate, per the latest modification, during the Interest-Only Phase is a variable rate equal to the daily highest prime rate published by the Wall Street Journal plus <div style="display: inline; font-style: italic; font: inherit;">150</div> basis points (<div style="display: inline; font-style: italic; font: inherit;">1.5%</div> rounded up to the nearest <div style="display: inline; font-style: italic; font: inherit;">1/8</div> percent), adjusted daily, but shall <div style="display: inline; font-style: italic; font: inherit;">not</div> be less than <div style="display: inline; font-style: italic; font: inherit;">4.75%.</div> During the Permanent Phase, the Company will pay interest at a fixed rate based on the Federal Home Loan Bank rate for a <div style="display: inline; font-style: italic; font: inherit;">7</div>-year maturity as made available by the Federal Home Loan Bank of New York plus a margin of <div style="display: inline; font-style: italic; font: inherit;">200</div> basis points (<div style="display: inline; font-style: italic; font: inherit;">2%</div>) rounded up to the nearest <div style="display: inline; font-style: italic; font: inherit;">1/8</div> percent, but shall <div style="display: inline; font-style: italic; font: inherit;">not</div> be less than <div style="display: inline; font-style: italic; font: inherit;">3.85%,</div> plus principal based on a <div style="display: inline; font-style: italic; font: inherit;">20</div>-year amortization period. The Permanent Phase interest rate currently would be <div style="display: inline; font-style: italic; font: inherit;">3.85%.</div> Pursuant to the terms of the loan, the bank is in the process of converting the loan to a permanent loan.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The <div style="display: inline; font-style: italic; font: inherit;">first</div> advance of <div style="display: inline; font-style: italic; font: inherit;">$1.1</div> million was used to finance the tenant improvements pursuant to the amended and expanded signed lease with Stony Brook University Hospital (“SBU Hospital”). An additional advance of <div style="display: inline; font-style: italic; font: inherit;">$1.1</div> million was drawn on <div style="display: inline; font-style: italic; font: inherit;"> March 29, 2019 </div>to finance the buildouts on leases signed through <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2018. </div>The balance of the loan can be drawn upon for improvements to be completed by the Company, as landlord, pursuant to future leases with the State University of New York or institutions affiliated with it (or other tenants subject to the bank's approval) anytime during the Interest-Only Phase. Pursuant to the terms of the loan, the bank is in the process of converting the loan to a permanent loan with a principal balance of <div style="display: inline; font-style: italic; font: inherit;">$2,200,000.</div> The remaining <div style="display: inline; font-style: italic; font: inherit;">$800,000</div> will go unused and the Company will <div style="display: inline; font-style: italic; font: inherit;">no</div> longer have access to that amount.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">To secure access to additional working capital through the final sale date of the Flowerfield industrial buildings, the Company secured a <div style="display: inline; font-style: italic; font: inherit;">second</div> loan evidenced by a non-revolving business line of credit agreement and promissory note with the Original Line bank for up to <div style="display: inline; font-style: italic; font: inherit;">$3,000,000,</div> which closed on <div style="display: inline; font-style: italic; font: inherit;"> January 24, 2019. </div>This loan included an interest only phase for the <div style="display: inline; font-style: italic; font: inherit;">first</div> <div style="display: inline; font-style: italic; font: inherit;">twenty-four</div> months of the loan (“Interest-Only Phase”) after which it automatically converts to a permanent loan maturing on <div style="display: inline; font-style: italic; font: inherit;"> January 20, 2028 (</div><div style="display: inline; font-style: italic; font: inherit;">84</div> months after conversion to a permanent loan) (the “Permanent Phase”). The Company amended and extended the line which included extending the conversion date of the Interest-Only Phase to the earlier of <div style="display: inline; font-style: italic; font: inherit;"> May 20, 2021 </div>or upon drawing down a total of <div style="display: inline; font-style: italic; font: inherit;">$3,000,000</div> after which it automatically converts to a permanent loan maturing on the earlier of <div style="display: inline; font-style: italic; font: inherit;"> May 20, 2028 </div>or <div style="display: inline; font-style: italic; font: inherit;">84</div> months after conversion to a permanent loan. The interest rate during the Interest-Only Phase shall be a variable rate equal to the daily highest prime rate published by the Wall Street Journal plus <div style="display: inline; font-style: italic; font: inherit;">100</div> basis points (<div style="display: inline; font-style: italic; font: inherit;">1%</div> rounded up to the nearest <div style="display: inline; font-style: italic; font: inherit;">1/8</div> percent), but in <div style="display: inline; font-style: italic; font: inherit;">no</div> event less than <div style="display: inline; font-style: italic; font: inherit;">4.75%.</div> During the Permanent Phase, the Company will pay interest at a fixed rate based on the Federal Home Loan Bank rate for a <div style="display: inline; font-style: italic; font: inherit;">7</div>-year maturity as made available by the Federal Home Loan Bank of New York plus a margin of <div style="display: inline; font-style: italic; font: inherit;">200</div> basis points (<div style="display: inline; font-style: italic; font: inherit;">2%</div>) rounded up to the nearest <div style="display: inline; font-style: italic; font: inherit;">1/8</div> percent, but shall <div style="display: inline; font-style: italic; font: inherit;">not</div> be less than <div style="display: inline; font-style: italic; font: inherit;">3.85%,</div> plus principal based on a <div style="display: inline; font-style: italic; font: inherit;">20</div>-year amortization period. The Permanent Phase interest rate currently would be <div style="display: inline; font-style: italic; font: inherit;">3.85%.</div> Pursuant to the terms of the loan, the bank is in the process of converting the loan to a permanent loan following the drawdowns of <div style="display: inline; font-style: italic; font: inherit;">$1,580,068,</div> <div style="display: inline; font-style: italic; font: inherit;">$1,000,000</div> and <div style="display: inline; font-style: italic; font: inherit;">$419,932</div> in <div style="display: inline; font-style: italic; font: inherit;">2019,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> and <div style="display: inline; font-style: italic; font: inherit;"> January 2021, </div>respectively.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Both lines are secured by approximately <div style="display: inline; font-style: italic; font: inherit;">31.8</div> acres of the Flowerfield Industrial Park including the related buildings and leases. As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the Company is in compliance with the loan covenants. The Company anticipates modifying the terms of the loans following the completion of the subdivision so that the loans remain secured by the subdivided industrial park lot only.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">To secure access to additional working capital, the Company, through its subsidiary GSD Cortlandt, LLC (“GSD Cortlandt”) secured a loan evidenced by a non-revolving business line of credit agreement and promissory note with the Original Line bank for up to <div style="display: inline; font-style: italic; font: inherit;">$2,500,000</div> which closed on <div style="display: inline; font-style: italic; font: inherit;"> July 16, 2020. </div>The term is <div style="display: inline; font-style: italic; font: inherit;">24</div> months, with an option to extend for an additional <div style="display: inline; font-style: italic; font: inherit;">12</div> months. The interest rate is a variable rate equal to the daily highest prime rate published by the Wall Street Journal plus <div style="display: inline; font-style: italic; font: inherit;">100</div> basis points (<div style="display: inline; font-style: italic; font: inherit;">1%</div>), rounded up to the nearest <div style="display: inline; font-style: italic; font: inherit;">1/8</div> percent, but in <div style="display: inline; font-style: italic; font: inherit;">no</div> event less than <div style="display: inline; font-style: italic; font: inherit;">four</div> and <div style="display: inline; font-style: italic; font: inherit;">three</div> quarters percent (<div style="display: inline; font-style: italic; font: inherit;">4.75%</div>). The terms of the loan originally limited access to certain amounts, contingent upon GSD Cortlandt securing purchase agreements for <div style="display: inline; font-style: italic; font: inherit;">one</div> or both Cortlandt Property lots. On <div style="display: inline; font-style: italic; font: inherit;"> February 22, 2021, </div>the loan was amended to remove such limitation on draws. Advances of <div style="display: inline; font-style: italic; font: inherit;">$379,765</div> and <div style="display: inline; font-style: italic; font: inherit;">$670,235,</div> were drawn at closing and on <div style="display: inline; font-style: italic; font: inherit;"> January 28, 2021, </div>respectively. Under the line, a balance of <div style="display: inline; font-style: italic; font: inherit;">$1,450,000</div> is available at the Lender's discretion.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The line is secured by the Cortlandt property (<div style="display: inline; font-style: italic; font: inherit;">13.8</div> acres) and cross collateralized by <div style="display: inline; font-style: italic; font: inherit;">31.8</div> acres of the Flowerfield Industrial Park including the related buildings and leases. The Company anticipates modifying the terms of the loans following the completion of the subdivision so that the loans remain cross collateralized by the subdivided industrial park lot only.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The loans payable mature upon the earlier of the sale of the Flowerfield Industrial Park or as follows:</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div> <table cellpadding="0pt" cellspacing="0pt" style="margin-right: auto; margin-left: 36pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Years Ending March 31,</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%; border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="text-align: justify; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 14%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">152,580</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2023</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">1,232,082</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2024</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">189,218</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2025</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">196,633</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2026</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">204,338</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Thereafter</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">4,275,148</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">6,249,999</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table> </div> <div style=" margin: 0pt; font-family: "Times New Roman"; font-size: 10pt;"> </div></div> </us-gaap:DebtDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember_DebtInstrumentAxis-InterestOnlyPeriodOfPaymentsMember_VariableRateAxis-PrimeRateMember" decimals="4" id="c73123379" unitRef="xbrli-pure"> 0.015 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember_DebtInstrumentAxis-InterestOnlyPeriodOfPaymentsMember_RangeAxis-MinimumMember" decimals="4" id="c73123383" unitRef="xbrli-pure"> 0.0475 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember_VariableRateAxis-FederalHomeLoanBankRateMember" decimals="4" id="c73123385" unitRef="xbrli-pure"> 0.02 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember_RangeAxis-MinimumMember_VariableRateAxis-FederalHomeLoanBankRateMember" decimals="4" id="c73123389" unitRef="xbrli-pure"> 0.0385 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member_DebtInstrumentAxis-InterestOnlyPeriodOfPaymentsMember_VariableRateAxis-PrimeRateMember" decimals="4" id="c73123406" unitRef="xbrli-pure"> 0.01 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member_DebtInstrumentAxis-InterestOnlyPeriodOfPaymentsMember_RangeAxis-MinimumMember_VariableRateAxis-PrimeRateMember" decimals="4" id="c73123410" unitRef="xbrli-pure"> 0.0475 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember_VariableRateAxis-FederalHomeLoanBankRateMember" decimals="4" id="c73123412" unitRef="xbrli-pure"> 0.02 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember_RangeAxis-MinimumMember_VariableRateAxis-FederalHomeLoanBankRateMember" decimals="4" id="c73123416" unitRef="xbrli-pure"> 0.0385 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d_2020-03-26_2020-07-16_CreditFacilityAxis-NonrevolvingCreditLine3Member_DebtInstrumentAxis-InterestOnlyPeriodOfPaymentsMember_VariableRateAxis-PrimeRateMember" decimals="4" id="c73123428" unitRef="xbrli-pure"> 0.01 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentFaceAmount contextRef="i_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember" decimals="INF" id="c73123396" unitRef="iso4217-usd"> 2200000 </us-gaap:DebtInstrumentFaceAmount> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="i_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember_VariableRateAxis-FederalHomeLoanBankRateMember" decimals="4" id="c73123391" unitRef="xbrli-pure"> 0.0385 </us-gaap:DebtInstrumentInterestRateEffectivePercentage> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="i_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member_DebtInstrumentAxis-AfterInterestOnlyPaymentPeriodMember" decimals="4" id="c73123418" unitRef="xbrli-pure"> 0.0385 </us-gaap:DebtInstrumentInterestRateEffectivePercentage> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="i_2020-07-16_CreditFacilityAxis-NonrevolvingCreditLine3Member_DebtInstrumentAxis-InterestOnlyPeriodOfPaymentsMember_RangeAxis-MinimumMember" decimals="4" id="c73123434" unitRef="xbrli-pure"> 0.0475 </us-gaap:DebtInstrumentInterestRateEffectivePercentage> | |||||||||||||||||||||
| <us-gaap:DebtInstrumentUnusedBorrowingCapacityAmount contextRef="i_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember" decimals="INF" id="c73123397" unitRef="iso4217-usd"> 800000 </us-gaap:DebtInstrumentUnusedBorrowingCapacityAmount> | |||||||||||||||||||||
| <us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent contextRef="i_2021-03-31" decimals="INF" id="c73123473" unitRef="iso4217-usd"> 463338 </us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent contextRef="i_2020-12-31" decimals="INF" id="c73123474" unitRef="iso4217-usd"> 368372 </us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent> | |||||||||||||||||||||
| <us-gaap:DeferredRentCredit contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123643" unitRef="iso4217-usd"> 88839 </us-gaap:DeferredRentCredit> | |||||||||||||||||||||
| <us-gaap:DeferredRentCredit contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123644" unitRef="iso4217-usd"> 15283 </us-gaap:DeferredRentCredit> | |||||||||||||||||||||
| <us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844573"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">6.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Disposition Activities</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Terminated Contracts</div></div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-style: italic;">Flowerfield - </div>On <div style="display: inline; font-style: italic; font: inherit;"> August 27, 2019, </div>the Company's wholly owned subsidiary GSD Flowerfield, LLC entered into a Purchase and Sale Agreement (the “BSL Agreement”) for the sale of a <div style="display: inline; font-style: italic; font: inherit;">9.0</div>-acre parcel of vacant land (the “BSL Agreement Property”) in the Flowerfield complex in Smithtown, New York for <div style="display: inline; font-style: italic; font: inherit;">$16,800,000</div> to BSL St. James LLC, a Delaware limited liability company (“BSL”). The Agreement provided that BSL would have the right to terminate the BSL Agreement by written notice to GSD Flowerfield prior to the expiration of a defined inspection period (which had been extended via amendments to the BSL Agreement) if BSL was <div style="display: inline; font-style: italic; font: inherit;">not</div> fully satisfied, in BSL's sole discretion, as to the status of title, suitability of the Property and all factors concerning same, in which case BSL would have the right to receive a refund of its earnest money deposit.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">On <div style="display: inline; font-style: italic; font: inherit;"> March 16, 2021, </div>the Company received a notice (the “BSL Termination Notice”) from BSL that it is terminating the BSL Agreement. The BSL Termination Notice referenced the foregoing termination right and requested the return of the earnest money deposit to BSL in accordance with the provisions of the BSL Agreement. Such earnest money deposit has been returned to BSL.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The BSL Agreement Property is included in the Company's subdivision application with the Town of Smithtown, New York, to subdivide the entire Flowerfield property into <div style="display: inline; font-style: italic; font: inherit;">eight</div> separate parcels (<div style="display: inline; font-style: italic; font: inherit;">one</div> parcel of which is a catering hall facility sold by the Company in <div style="display: inline; font-style: italic; font: inherit;">2002</div>). The Company believes the termination of the BSL Agreement should have <div style="display: inline; font-style: italic; font: inherit;">no</div> impact on the subdivision application, and will continue to actively market its entire Flowerfield property on the basis of <div style="display: inline; font-style: italic; font: inherit;">eight</div> subdivided lots subject to and contingent upon approvals for the subdivision and related entitlements.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt; text-indent: 36pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Cortlandt Manor - </div></div>As of <div style="display: inline; font-style: italic; font: inherit;"> December 7, 2019, </div>the Company's wholly owned subsidiaries GSD Cortlandt, LLC, a New York limited liability company and Buttonwood Acquisitions, LLC (together the “Cortlandt Subsidiaries”), executed a Purchase and Sale Agreement (the “SC Agreement”) for the sale of approximately <div style="display: inline; font-style: italic; font: inherit;">4.5</div> acres of its real property located in Cortlandt Manor, New York, together with improvements thereon (the “SC Agreement Property”) to Sound Cortlandt, LLC, a Delaware limited liability company (“SC LLC”) for a purchase price of <div style="display: inline; font-style: italic; font: inherit;">$5,720,000.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The SC Agreement provided that SC LLC would have the right to terminate the SC Agreement by written notice to the Cortlandt Subsidiaries prior to the expiration of a defined inspection period (which had been extended via amendments to the SC Agreement) if SC LLC was <div style="display: inline; font-style: italic; font: inherit;">not</div> fully satisfied, in SC LLC's sole discretion, as to the status of title, suitability of the SC Agreement Property and all factors concerning same, in which case SC LLC would have the right to receive a refund of its earnest money deposit.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">On <div style="display: inline; font-style: italic; font: inherit;"> February 1, 2021, </div>the Company received a notice (the “SC Termination Notice”) from SC, LLC that it is terminating the SC Agreement. The SC Termination Notice referenced the foregoing termination right and called for the Escrow Agent (as defined in the SC Agreement) to return the earnest money deposit immediately to SC LLC in accordance with the provisions of the SC Agreement. Such earnest money deposit has been returned to SC LLC.</div></div> </us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:EarningsPerSharePolicyTextBlock contextRef="d_2021-01-01_2021-03-31" id="c73123263"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Estimated Distributions per Share</div></div> – Under the liquidation basis of accounting, the Company reports estimated distributions per share data by dividing net assets in liquidation by the number of shares outstanding.</div></div></div></div></div></div></div> </us-gaap:EarningsPerSharePolicyTextBlock> | |||||||||||||||||||||
| <us-gaap:FairValueDisclosuresTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844585"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">14.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> <div style="display: inline; font-weight: bold;">Fair Value of Financial Instruments</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Assets and Liabilities Measured at Fair-Value </div></div>– The Company believes the concepts for determining net realizable value are consistent with the guidance for measuring fair value. As a result, the Company follows authoritative guidance on fair value measurements, which defines fair-value, establishes a framework for measuring fair-value, and expands disclosures about fair-value measurements. The guidance applies to reported balances that are required or permitted to be measured at fair-value under existing accounting pronouncements.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company follows authoritative guidance on the fair value option for financial assets, which permits companies to choose to measure certain financial instruments and other items at fair-value in order to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently. However, the Company adopted the liquidation basis of accounting, and therefore reports all assets and liabilities at net realizable value.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The guidance emphasizes that fair-value is a market-based measurement, <div style="display: inline; font-style: italic; font: inherit;">not</div> an entity-specific measurement. Therefore, a fair-value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair-value measurements, the guidance establishes a fair-value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels <div style="display: inline; font-style: italic; font: inherit;">1</div> and <div style="display: inline; font-style: italic; font: inherit;">2</div> of the hierarchy, as defined under FASB ASC Topic <div style="display: inline; font-style: italic; font: inherit;">No.</div> <div style="display: inline; font-style: italic; font: inherit;">820,</div> Fair Value Measurements) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level <div style="display: inline; font-style: italic; font: inherit;">3</div> of the hierarchy). In instances where the determination of the fair-value measurement is based on inputs from different levels of the fair-value hierarchy, the level in the fair-value hierarchy within which the entire fair-value measurement falls is based on the lowest level input that is significant to the fair-value measurement in its entirety. Our assessment of the significance of a particular input to the fair-value measurement in its entirety requires judgment and considers factors specific to the asset or liability.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Fair Value Measurements -</div></div> The Company adopted the liquidation basis of accounting effective <div style="display: inline; font-style: italic; font: inherit;"> September 1, 2015; </div>accordingly, the Company reports all real estate at their net realizable value.</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company estimates the net realizable value of its real estate assets by using income and market valuation techniques. The Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>estimate net realizable values using market information such as broker opinions of value, appraisals, and recent sales data for similar assets or discounted cash flow models, which primarily rely on Level <div style="display: inline; font-style: italic; font: inherit;">3</div> inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows <div style="display: inline; font-style: italic; font: inherit;"> may </div>include contractual rental revenues, projected future rental revenues and expenses and forecasted capital improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals and relevant Company experience with its current and previously owned properties. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent, the Company underestimates or overestimates forecasted cash outflows (capital improvements, lease commissions and operating costs) or overestimates or understates forecasted cash inflows (rental revenue rates), the estimated net realizable value of its real estate assets could be overstated or understated.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div></div> </us-gaap:FairValueDisclosuresTextBlock> | |||||||||||||||||||||
| <us-gaap:IncomeTaxDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844578"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">9.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Income Taxes</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">As a limited liability company, Gyrodyne is <div style="display: inline; font-style: italic; font: inherit;">not</div> subject to an entity level income tax but rather is treated as a partnership for tax purposes, with its items of income, gain, deduction, loss and credit being reported on the Company's information return, on Form <div style="display: inline; font-style: italic; font: inherit;">1065,</div> and allocated annually on Schedule K-<div style="display: inline; font-style: italic; font: inherit;">1</div> to its members pro rata. The Company's open tax years are <div style="display: inline; font-style: italic; font: inherit;">2018,</div> <div style="display: inline; font-style: italic; font: inherit;">2019,</div> and <div style="display: inline; font-style: italic; font: inherit;">2020.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Bipartisan Budget Act of <div style="display: inline; font-style: italic; font: inherit;">2015</div> (the <div style="display: inline; font-style: italic; font: inherit;">“2015</div> Act”) changed the procedure for partnership tax audits and audit adjustments for partnership returns of large partnerships for fiscal years beginning after <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2017. </div>Pursuant to the <div style="display: inline; font-style: italic; font: inherit;">2015</div> Act, if any audit by the IRS of our income tax returns for any fiscal year beginning after <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2017 </div>results in any adjustments, the IRS <div style="display: inline; font-style: italic; font: inherit;"> may </div>collect any resulting taxes, including any applicable penalties and interest, directly from Gyrodyne. IRS tax audit assessments on tax years beginning <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2018 </div>will require Gyrodyne to: a) bear any tax liability resulting from such audit, or b) elect to push out the tax audit adjustments to the respective shareholders once it has been calculated at the company level.</div></div> </us-gaap:IncomeTaxDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:Liabilities contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123651" unitRef="iso4217-usd"> 19152549 </us-gaap:Liabilities> | |||||||||||||||||||||
| <us-gaap:Liabilities contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123652" unitRef="iso4217-usd"> 18419887 </us-gaap:Liabilities> | |||||||||||||||||||||
| <us-gaap:LineOfCredit contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123647" unitRef="iso4217-usd"> 6249999 </us-gaap:LineOfCredit> | |||||||||||||||||||||
| <us-gaap:LineOfCredit contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123648" unitRef="iso4217-usd"> 5159833 </us-gaap:LineOfCredit> | |||||||||||||||||||||
| <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i_2018-03-21_CreditFacilityAxis-NonrevolvingCreditLineMember" decimals="INF" id="c73123374" unitRef="iso4217-usd"> 3000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity> | |||||||||||||||||||||
| <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember" decimals="INF" id="c73123377" unitRef="iso4217-usd"> 3000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity> | |||||||||||||||||||||
| <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLine2Member" decimals="INF" id="c73123400" unitRef="iso4217-usd"> 3000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity> | |||||||||||||||||||||
| <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="i_2020-07-16_CreditFacilityAxis-NonrevolvingCreditLine3Member" decimals="INF" id="c73123425" unitRef="iso4217-usd"> 2500000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity> | |||||||||||||||||||||
| <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity contextRef="i_2021-03-31_CreditFacilityAxis-NonrevolvingCreditLine3Member" decimals="INF" id="c73123438" unitRef="iso4217-usd"> 1450000 </us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity> | |||||||||||||||||||||
| <us-gaap:LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123649" unitRef="iso4217-usd"> 10919805 </us-gaap:LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities> | |||||||||||||||||||||
| <us-gaap:LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123650" unitRef="iso4217-usd"> 11552940 </us-gaap:LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities> | |||||||||||||||||||||
| <us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedCostsToDisposeOfAssetsAndLiabilities contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123358" unitRef="iso4217-usd"> 561020 </us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAccruedCostsToDisposeOfAssetsAndLiabilities> | |||||||||||||||||||||
| <us-gaap:LiquidationBasisOfAccountingTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844570"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">4.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Statements of Net Assets in Liquidation</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Net assets in liquidation on <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>and <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>would result in estimated liquidating distributions of <div style="display: inline; font-style: italic; font: inherit;">$22,560,059</div> and <div style="display: inline; font-style: italic; font: inherit;">$22,487,944,</div> or approximately <div style="display: inline; font-style: italic; font: inherit;">$15.22</div> and <div style="display: inline; font-style: italic; font: inherit;">$15.17</div> per common share, respectively, based on <div style="display: inline; font-style: italic; font: inherit;">1,482,680</div> shares outstanding. The increase of <div style="display: inline; font-style: italic; font: inherit;">$72,115</div> or <div style="display: inline; font-style: italic; font: inherit;">$0.05</div> per share is attributable to the change in the estimated liquidation and operating costs net of receipts, mainly due to savings in corporate expenditures and additional rental revenue of approximately <div style="display: inline; font-style: italic; font: inherit;">$57,000</div> and <div style="display: inline; font-style: italic; font: inherit;">$49,000,</div> respectively, offset by additional property operating expenses and selling costs of approximately <div style="display: inline; font-style: italic; font: inherit;">$17,000</div> and <div style="display: inline; font-style: italic; font: inherit;">$17,500,</div> respectively.</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The cash balance at the end of the liquidation period (currently estimated to be <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022, </div>although the estimated completion of the liquidation period <div style="display: inline; font-style: italic; font: inherit;"> may </div>change), excluding any interim distributions, is estimated based on adjustments for the following items which are estimated through <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022:</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">1.</div></div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The estimated cash receipts from the operation of the Company's properties net of rental property related expenditures as well as costs expected to be incurred to preserve or improve the net realizable value of the properties at their estimated gross sales proceeds.</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">2.</div></div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Net proceeds from the sale of all the Company's real estate holdings.</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">3.</div></div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The general and administrative expenses and or liabilities associated with operations and the liquidation of the Company including severance, director and officer liability coverage including post liquidation tail policy coverage, and financial and legal fees to complete the liquidation.</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">4.</div></div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Costs for the pursuit of entitlements on the Flowerfield and Cortlandt Manor properties.</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">5.</div></div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Retention bonus amounts (See Note <div style="display: inline; font-style: italic; font: inherit;">12</div>).</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><div style="display: inline; font-style: italic; font: inherit;">6.</div></div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Costs, including principal payments, net of draw-downs on the Company's credit facilities to fund tenant improvements and working capital and related fees.</div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company estimates the net realizable value of its real estate assets by using income and market valuation techniques. The Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>estimate net realizable values using market information such as broker opinions of value, appraisals, and recent sales data for similar assets or discounted cash flow models, which primarily rely on Level <div style="display: inline; font-style: italic; font: inherit;">3</div> inputs, as defined under FASB ASC Topic <div style="display: inline; font-style: italic; font: inherit;">No.</div> <div style="display: inline; font-style: italic; font: inherit;">820,</div> Fair Value Measurement. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows <div style="display: inline; font-style: italic; font: inherit;"> may </div>include contractual rental revenues, projected future rental revenues and expenses and forecasted capital improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals and relevant Company experience with its current and previously owned properties. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company underestimates or overestimates forecasted cash outflows (capital improvements, lease commissions and operating costs) or overestimates or underestimates forecasted cash inflows (rental revenue rates), the estimated net realizable value of its real estate assets could be overstated or understated.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company estimates that it will incur approximately <div style="display: inline; font-style: italic; font: inherit;">$1.3</div> million (included in the consolidated statement of net assets as part of the estimated liquidation and operating costs net of receipts, See Note <div style="display: inline; font-style: italic; font: inherit;">5</div>) in land entitlement costs from <div style="display: inline; font-style: italic; font: inherit;"> April 2021 </div>through the end of the liquidation period, currently estimated to conclude on or about <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022, </div>in an effort to obtain entitlements, including special permits. The Company believes the commitment of these resources will enable the Company to position the properties for sale with all entitlements necessary to maximize the Flowerfield and Cortlandt Manor property values and resulting distributions. During the <div style="display: inline; font-style: italic; font: inherit;">three</div> months ended <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021, </div>the Company incurred approximately <div style="display: inline; font-style: italic; font: inherit;">$174,000</div> of land entitlement costs, consisting predominantly of engineering fees. The Company believes the remaining balance of <div style="display: inline; font-style: italic; font: inherit;">$1.3</div> million (approximately <div style="display: inline; font-style: italic; font: inherit;">$257,000</div> of which certain of the Company service vendors have agreed to defer until the <div style="display: inline; font-style: italic; font: inherit;">first</div> post subdivision property lot is sold) will be incurred from <div style="display: inline; font-style: italic; font: inherit;"> April 2021 </div>through the end of the liquidation period. The Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> intend to develop the properties but rather to commit resources to position the properties for sale in a timely manner with all entitlements necessary to achieve maximum pre-construction values. The costs and time frame to achieve the entitlements could change due to a range of factors including a shift in the value of certain entitlements making it more profitable to pursue a different mix of entitlements and the dynamics of the real estate market. As a result, the Company has focused and will continue to focus its land entitlement efforts on achieving the highest and best use while considering the time necessary to achieve such entitlements. During the process of pursuing such entitlements, the Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>entertain offers from potential buyers who <div style="display: inline; font-style: italic; font: inherit;"> may </div>be willing to pay premiums for the properties that the Company finds more acceptable from a timing or value perspective than completing the entitlement processes itself. The value of the real estate reported in the statement of net assets as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 (</div>predicated on current asset values) includes some but <div style="display: inline; font-style: italic; font: inherit;">not</div> all of the potential value impact that <div style="display: inline; font-style: italic; font: inherit;"> may </div>result from the land entitlement efforts. There can be <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance that our value enhancement efforts will result in property value increases that exceed the costs we incur in such efforts, or even any increase at all.</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The net assets as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 (</div><div style="display: inline; font-style: italic; font: inherit;">$22,560,059</div>) and <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 (</div><div style="display: inline; font-style: italic; font: inherit;">$22,487,944</div>) results in estimated distributions of approximately <div style="display: inline; font-style: italic; font: inherit;">$15.22</div> and <div style="display: inline; font-style: italic; font: inherit;">$15.17,</div> respectively, per common share (based on <div style="display: inline; font-style: italic; font: inherit;">1,482,680</div> shares outstanding), based on estimates and other indications of sales value (predicated on current asset values) which includes some but <div style="display: inline; font-style: italic; font: inherit;">not</div> all of the potential sales proceeds that <div style="display: inline; font-style: italic; font: inherit;"> may </div>result directly or indirectly from our land entitlement efforts. Some of the additional value that <div style="display: inline; font-style: italic; font: inherit;"> may </div>be derived from the land entitlement efforts is <div style="display: inline; font-style: italic; font: inherit;">not</div> included in the estimated distributions as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>because the amount of such additional value that <div style="display: inline; font-style: italic; font: inherit;"> may </div>result from such efforts are too difficult to predict with sufficient certainty. The Company believes the land entitlement efforts will enhance estimated distributions per share through the improved values (a large amount of which has already been included in the reported value for real estate held for sale) from the sales of the Flowerfield and Cortlandt Manor properties net of the costs to achieve the improved values and other expenses. This estimate of distributions includes projections of costs and expenses to be incurred during the period required to complete the plan of liquidation. There is inherent uncertainty with these projections, and they could change materially based on the timing of the sales, change in values of the Cortlandt Manor and/or Flowerfield properties (whether market driven or resulting from the land entitlement efforts) net of any bonuses (if such values exceed the minimum values required to pay bonuses under the retention bonus plan), favorable or unfavorable changes in the land entitlement costs, the performance of the underlying assets, the market for commercial real estate properties generally and any changes in the underlying assumptions of the projected cash flows.</div></div> </us-gaap:LiquidationBasisOfAccountingTextBlock> | |||||||||||||||||||||
| <us-gaap:LoansAndLeasesReceivableAllowanceForLoanLossesPolicy contextRef="d_2021-01-01_2021-03-31" id="c73123261"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Allowance for doubtful accounts </div></div>– Rent receivable is carried at net realizable value. Management makes estimates of the collectability of rents receivable. Management specifically analyzes receivables and historical bad debts, tenant concentrations, tenant creditworthiness, current economic trends, including the impact of the outbreak of the novel strain of coronavirus (COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div>) on tenants' business, and changes in tenant payment patterns when evaluating the adequacy of the allowance for doubtful accounts.</div></div></div></div></div></div></div> </us-gaap:LoansAndLeasesReceivableAllowanceForLoanLossesPolicy> | |||||||||||||||||||||
| <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844579"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">10.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Credit Quality of Rents Receivable</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company's standard lease terms include rent due on the <div style="display: inline; font-style: italic; font: inherit;">first</div> of the month. The Company credit terms extend a standard <div style="display: inline; font-style: italic; font: inherit;">ten</div>-day grace period across its tenant portfolio and do <div style="display: inline; font-style: italic; font: inherit;">not</div> normally provide extensions beyond <div style="display: inline; font-style: italic; font: inherit;">one</div> year.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company manages its billing and collection process internally to enable timely identification of collection issues. The controls and related processes enable the Company to timely identify and establish payment plans to minimize material losses from defaults. In accordance with generally accepted accounting principles, the Company identifies high risk collectibles, records them on a cash basis and does <div style="display: inline; font-style: italic; font: inherit;">not</div> include them in revenue or accounts receivable.</div></div> </us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:LongTermDebt contextRef="i_2021-03-31" decimals="INF" id="c73123448" unitRef="iso4217-usd"> 6249999 </us-gaap:LongTermDebt> | |||||||||||||||||||||
| <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths contextRef="i_2021-03-31" decimals="INF" id="c73123442" unitRef="iso4217-usd"> 152580 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths> | |||||||||||||||||||||
| <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive contextRef="i_2021-03-31" decimals="INF" id="c73123447" unitRef="iso4217-usd"> 4275148 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive> | |||||||||||||||||||||
| <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive contextRef="i_2021-03-31" decimals="INF" id="c73123446" unitRef="iso4217-usd"> 204338 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive> | |||||||||||||||||||||
| <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour contextRef="i_2021-03-31" decimals="INF" id="c73123445" unitRef="iso4217-usd"> 196633 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour> | |||||||||||||||||||||
| <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree contextRef="i_2021-03-31" decimals="INF" id="c73123444" unitRef="iso4217-usd"> 189218 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree> | |||||||||||||||||||||
| <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo contextRef="i_2021-03-31" decimals="INF" id="c73123443" unitRef="iso4217-usd"> 1232082 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo> | |||||||||||||||||||||
| <us-gaap:LossContingencyDisclosures contextRef="d_2021-01-01_2021-03-31" id="s1844584"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">13.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Contingencies</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Putative Class Action Lawsuit - </div></div>On <div style="display: inline; font-style: italic; font: inherit;"> August 14, 2015, </div>the Company entered a Stipulation of Settlement (the "Settlement") providing for the settlement of a putative class action lawsuit against the Company and certain related parties. Under the Settlement, Gyrodyne agreed that any sales of its properties would be effected only in arm's-length transactions at prices at or above their appraised values as of <div style="display: inline; font-style: italic; font: inherit;">2014.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">As of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>and <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the value of the remaining unsold properties exceeded the respective <div style="display: inline; font-style: italic; font: inherit;">2014</div> appraised value.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">General -</div></div> In the normal course of business, the Company is a party to various legal proceedings. After reviewing all actions and proceedings pending against or involving the Company, management considers that any loss resulting from such proceedings individually or in the aggregate will <div style="display: inline; font-style: italic; font: inherit;">not</div> be material to the Company's financial statements.</div></div> </us-gaap:LossContingencyDisclosures> | |||||||||||||||||||||
| <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="d_2021-01-01_2021-03-31" id="c73123265"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">New Accounting Pronouncements -</div></div> Management has evaluated the impact of newly issued accounting pronouncements, whether effective or <div style="display: inline; font-style: italic; font: inherit;">not</div> as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021, </div>and has concluded that they will <div style="display: inline; font-style: italic; font: inherit;">not</div> have a material impact on the Company's consolidated financial statements since the Company reports on a liquidation basis.</div></div></div></div></div></div></div> </us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock> | |||||||||||||||||||||
| <us-gaap:OpenTaxYear contextRef="d_2021-01-01_2021-03-31" id="c73123484"> 2018 2019 2020 </us-gaap:OpenTaxYear> | |||||||||||||||||||||
| <us-gaap:OperatingLeaseLeaseIncome contextRef="d_2021-01-01_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123284" unitRef="iso4217-usd"> 49000 </us-gaap:OperatingLeaseLeaseIncome> | |||||||||||||||||||||
| <us-gaap:OperatingLeaseLeaseIncome contextRef="d_2021-01-01_2021-12-31_MajorCustomersAxis-SmallBusinessesAndNotforProfitCorporationsMember_StatementScenarioAxis-ScenarioForecastMember" decimals="INF" id="c73123587" unitRef="iso4217-usd"> 776000 </us-gaap:OperatingLeaseLeaseIncome> | |||||||||||||||||||||
| <us-gaap:OperatingLeaseLeaseIncome contextRef="d_2021-01-01_2021-03-31_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123609" unitRef="iso4217-usd"> 8902 </us-gaap:OperatingLeaseLeaseIncome> | |||||||||||||||||||||
| <us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember2020Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123616" unitRef="iso4217-usd"> 38828 </us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable> | |||||||||||||||||||||
| <us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember20201Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" id="c73123619" unitRef="iso4217-usd" xs:nil="true"/> | |||||||||||||||||||||
| <us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable contextRef="i_2021-03-31_LeaseContractualTermAxis-LeaseTermJan2019ThroughDecember20202Member_RelatedPartyTransactionsByRelatedPartyAxis-NotForProfitCorporationMember" decimals="INF" id="c73123622" unitRef="iso4217-usd"> 32385 </us-gaap:OperatingLeasesFutureMinimumPaymentsReceivable> | |||||||||||||||||||||
| <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844567"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">1.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">The Company</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Gyrodyne, LLC (including its subsidiaries, “Gyrodyne”, the “Company” or the “Registrant”) is a limited liability company formed under the laws of the State of New York whose primary business is the management of, and the pursuit of entitlements on, a portfolio of medical office and industrial properties located in Suffolk (“Flowerfield”) and Westchester Counties (“Cortlandt Manor”), New York State.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Substantially all of our developed properties are subject to leases in which the tenant reimburses the Company for a portion, all of or substantially all of the costs and/or cost increases for utilities, insurance, repairs, maintenance and real estate taxes. Certain leases provide that the Company is responsible for certain operating expenses.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Gyrodyne's corporate strategy is to enhance the value of Flowerfield and Cortlandt Manor by pursuing entitlement opportunities and enhancing the value of its leases. The Company believes the aforementioned strategy will increase the values for such properties. The value of the real estate reported in the consolidated statements of net assets as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>and <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 (</div>predicated on current asset values) includes some, but <div style="display: inline; font-style: italic; font: inherit;">not</div> all of the potential value impact that <div style="display: inline; font-style: italic; font: inherit;"> may </div>result from such value enhancement efforts. There can be <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance that our value enhancement efforts will result in property value increases that exceed the costs we incur in such efforts, or even any increase at all. </div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Our efforts to generate the highest values for Flowerfield and Cortlandt Manor <div style="display: inline; font-style: italic; font: inherit;"> may </div>involve in limited circumstances various other strategies to enhance the net value of Flowerfield and Cortlandt Manor to maximize the returns for our shareholders. Gyrodyne intends to dissolve after it completes the disposition of all of its real property assets, applies the proceeds of such dispositions <div style="display: inline; font-style: italic; font: inherit;">first</div> to settle any debts and claims, pending or otherwise, against Gyrodyne, and then makes distributions to holders of Gyrodyne common shares. The process of seeking entitlements to enhance property values and the amount and timing of distributions from proceeds of asset sales involve risks and uncertainties. As such, it is impossible at this time to determine the ultimate amount of proceeds that will actually be distributed to our shareholders or the timing of such payments. Accordingly, <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance can be given that the distributions will equal or exceed the estimate of net assets presented in our consolidated statements of net assets. The actual nature, amount and timing of all distributions will be determined by Gyrodyne's Board in its sole discretion and will depend in part upon the Company's ability to convert our remaining assets into cash in compliance with our obligations under the Stipulation entered into in connection with the class action lawsuit (See Note <div style="display: inline; font-style: italic; font: inherit;">13</div> – Contingencies) and settle and pay our remaining liabilities and obligations. Under Gyrodyne's Amended and Restated Limited Liability Company Agreement (the “LLC Agreement”), such dissolution <div style="display: inline; font-style: italic; font: inherit;"> may </div>be effected upon the vote of holders of a majority of Gyrodyne common shares or, in the Company's discretion and without any separate approval by the holders of Gyrodyne common shares, at any time the value of Gyrodyne's assets, as determined by the Company in good faith, is less than <div style="display: inline; font-style: italic; font: inherit;">$1,000,000.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company's remaining real estate investments, each of which is held in a single asset limited liability company wholly owned by the Company, consist of:</div> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">●</div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Cortlandt <div style="display: inline; font-style: italic; font: inherit;">Manor:13.8</div> acres in Cortlandt Manor, New York, consisting of the <div style="display: inline; font-style: italic; font: inherit;">34,000</div> square foot Cortlandt Manor Medical Center; and</div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 36pt; text-align: justify;"> </td> <td style="width: 18pt;"> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">●</div> </td> <td> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Flowerfield: <div style="display: inline; font-style: italic; font: inherit;">63</div> acres in St. James, New York, including a <div style="display: inline; font-style: italic; font: inherit;">10</div>-acre multi-tenanted industrial park comprising <div style="display: inline; font-style: italic; font: inherit;">127,000</div> rentable square feet. There were an additional <div style="display: inline; font-style: italic; font: inherit;">5</div> acres that were zoned residential and non-contiguous to the Flowerfield property which the Company sold in <div style="display: inline; font-style: italic; font: inherit;"> April 2021 (</div>See Note <div style="display: inline; font-style: italic; font: inherit;">17</div> – Subsequent Events).</div> </td> </tr> </table></div> </us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:OtherCommitment contextRef="i_2021-03-31_OtherCommitmentsAxis-BonusPayableMember_TitleOfIndividualAxis-ChiefExecutiveOfficerMember" decimals="INF" id="c73123513" unitRef="iso4217-usd"> 125000 </us-gaap:OtherCommitment> | |||||||||||||||||||||
| <us-gaap:OtherCommitment contextRef="i_2021-03-31_OtherCommitmentsAxis-ManagementEmploymentAgreementsWithBonusAndSeveranceCommitmentContingenciesMember" decimals="INF" id="c73123550" unitRef="iso4217-usd"> 350000 </us-gaap:OtherCommitment> | |||||||||||||||||||||
| <us-gaap:OtherCommitment contextRef="i_2021-03-31_OtherCommitmentsAxis-OtherEmployeeSeveranceCommitmentContingenciesMember" decimals="INF" id="c73123551" unitRef="iso4217-usd"> 81716 </us-gaap:OtherCommitment> | |||||||||||||||||||||
| <us-gaap:OtherCommitment contextRef="i_2021-03-31" decimals="INF" id="c73123552" unitRef="iso4217-usd"> 431716 </us-gaap:OtherCommitment> | |||||||||||||||||||||
| <us-gaap:OtherCommitmentsTableTextBlock contextRef="d_2021-01-01_2021-03-31" id="c-5"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="2pt" cellspacing="0pt" style="margin-right: auto; margin-left: 36pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: 1px; border-style: solid; border-color: black black rgb(0, 0, 0); width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Management employment agreements with bonus* and severance commitment contingencies</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"><div style="display: inline; font-style: italic; font: inherit;">350,000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black; border-top: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; border-right: 1px solid black; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Other employee severance commitment contingencies</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">81,716</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; border-right: 1px solid black; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 2pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">431,716</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table></div> </us-gaap:OtherCommitmentsTableTextBlock> | |||||||||||||||||||||
| <us-gaap:OtherReceivables contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123635" unitRef="iso4217-usd"> 39556 </us-gaap:OtherReceivables> | |||||||||||||||||||||
| <us-gaap:OtherReceivables contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123636" unitRef="iso4217-usd"> 34751 </us-gaap:OtherReceivables> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2019-01-24_2019-01-24_CreditFacilityAxis-NonrevolvingCreditLineMember" decimals="INF" id="c73123394" unitRef="iso4217-usd"> 1100000 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2019-03-29_2019-03-29_CreditFacilityAxis-NonrevolvingCreditLineMember" decimals="INF" id="c73123395" unitRef="iso4217-usd"> 1100000 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2019-01-01_2019-12-31_CreditFacilityAxis-NonrevolvingCreditLine2Member" decimals="INF" id="c73123419" unitRef="iso4217-usd"> 1580068 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2020-01-01_2020-12-31_CreditFacilityAxis-NonrevolvingCreditLine2Member" decimals="INF" id="c73123420" unitRef="iso4217-usd"> 1000000 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2021-01-01_2021-01-31_CreditFacilityAxis-NonrevolvingCreditLine2Member" decimals="INF" id="c73123421" unitRef="iso4217-usd"> 419932 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2020-07-16_2020-07-16_CreditFacilityAxis-NonrevolvingCreditLine3Member" decimals="INF" id="c73123436" unitRef="iso4217-usd"> 379765 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromLinesOfCredit contextRef="d_2021-01-28_2021-01-28_CreditFacilityAxis-NonrevolvingCreditLine3Member" decimals="INF" id="c73123437" unitRef="iso4217-usd"> 670235 </us-gaap:ProceedsFromLinesOfCredit> | |||||||||||||||||||||
| <us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="d_2019-08-27_2019-08-27_CounterpartyNameAxis-BSLStJamesLLCMember_LongLivedAssetsHeldForSaleByAssetTypeAxis-FlowerfieldComplexInSmithtownNewYorkMember" decimals="INF" id="c73123363" unitRef="iso4217-usd"> 16800000 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment> | |||||||||||||||||||||
| <us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="d_2019-12-07_2019-12-07_LongLivedAssetsHeldForSaleByAssetTypeAxis-CortlandtManorPropertyInNewYorkMember" decimals="INF" id="c73123371" unitRef="iso4217-usd"> 5720000 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment> | |||||||||||||||||||||
| <us-gaap:RealEstateHeldforsale contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123627" unitRef="iso4217-usd"> 39050000 </us-gaap:RealEstateHeldforsale> | |||||||||||||||||||||
| <us-gaap:RealEstateHeldforsale contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123628" unitRef="iso4217-usd"> 39050000 </us-gaap:RealEstateHeldforsale> | |||||||||||||||||||||
| <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844587"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">16.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Related Party Transactions</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company has entered into various leasing arrangements with a <div style="display: inline; font-style: italic; font: inherit;">not</div>-for-profit organization of which the Company's Chairman, Paul Lamb, serves as Chairman and a director but receives <div style="display: inline; font-style: italic; font: inherit;">no</div> compensation or any other financial benefit. A summary of the leasing arrangements is as follows:</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div> <table cellpadding="2pt" cellspacing="0pt" style="margin-right: 10%; margin-left: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: thin 1px 1px; border-style: solid; border-color: rgb(0, 0, 0) black; width: 35%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;">Term</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Square</div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Feet</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">Annual Rent</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total Commitment (net of</div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">abatement, excluding </div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">renewal options)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 35%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Jan 2021-Dec 2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">2,284</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">19,414</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 22%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">38,828</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 35%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Jan 2021-Dec 2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,817</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: right; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-(a)</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: right; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-(a)</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 35%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Jan 2021-Dec 2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,905</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">16,193</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 22%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">32,385</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table> </div> <table cellpadding="0pt" cellspacing="0pt" style="font-size: 10pt; font-family: "Times New Roman", Times, serif; margin-right: 10%; margin-left: 10%; min-width: 700px;"> <tr style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="width: 100%; text-align: justify; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(a)The Company understood that the tenant's main intent was to sublease the space to artists, on a short-term basis, after which such subtenant artists would transition into their own space leased directly from the Company. Under the master lease, the tenant has the right to sublease the space without prior written consent for use as an art studio, art school or related use. Under the terms of the master lease, rent is payable by the tenant only to the extent the space is sublet, at the rent amount per square foot payable by the subtenant up to a maximum of <div style="display: inline; font-style: italic; font: inherit;">$10</div> per square foot per year. The maximum annual and total lease commitment of up to <div style="display: inline; font-style: italic; font: inherit;">$18,170</div> and <div style="display: inline; font-style: italic; font: inherit;">$36,340,</div> respectively. Any space <div style="display: inline; font-style: italic; font: inherit;">not</div> subleased <div style="display: inline; font-style: italic; font: inherit;"> may </div>be used by the tenant rent-free for certain stated art uses, although the tenant is responsible for certain passthrough expenses such as electric and heat. Since rent is only due if the space is sublet, the Company believes the fair value of the space to the extent <div style="display: inline; font-style: italic; font: inherit;">not</div> sublet reflects a below market lease over the <div style="display: inline; font-style: italic; font: inherit;">three</div> months ending <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021 </div>of <div style="display: inline; font-style: italic; font: inherit;">$4,543</div> and total commitments of up to <div style="display: inline; font-style: italic; font: inherit;">$36,340.</div></td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">During the <div style="display: inline; font-style: italic; font: inherit;">three</div>-months ended <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021, </div>the Company received rental revenue of <div style="display: inline; font-style: italic; font: inherit;">$8,902</div> related to these lease agreements.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The independent members of the Board of the Company approved all of the leasing transactions described above.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Chairman is also a partner of the firm Lamb & Barnosky, LLP that provided pro bono legal representation to the aforementioned <div style="display: inline; font-style: italic; font: inherit;">not</div>-for-profit corporation on the lease.</div></div> </us-gaap:RelatedPartyTransactionsDisclosureTextBlock> | |||||||||||||||||||||
| <us-gaap:RestrictedCash contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123631" unitRef="iso4217-usd"> 169000 </us-gaap:RestrictedCash> | |||||||||||||||||||||
| <us-gaap:RestrictedCash contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123632" unitRef="iso4217-usd"> 169000 </us-gaap:RestrictedCash> | |||||||||||||||||||||
| <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="d_2021-01-01_2021-03-31" id="c-4"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="2pt" cellspacing="0pt" style="margin-right: auto; margin-left: 18pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: thin 1px 1px; border-style: solid; border-color: rgb(0, 0, 0) black; width: 20%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 15%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Accounts Payable</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 15%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Accrued Liabilities</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">March 31, 2021</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">December 31, 2020</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">March 31, 2021</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">December 31, 2020</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Current accounts payable</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">277,029</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">241,963</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">Accrued liabilities</div></div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">186,185</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">188,554</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black; vertical-align: top;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Other accounts payable (a)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">717,040</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">651,220</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">Deferred Compensation to Directors (b)</div></div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">463,338</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><div style="display: inline; font-style: italic; font: inherit;">368,372</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">994,069</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">893,183</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 23%; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">Total</div></div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">649,523</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 11%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">556,926</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table></div> </us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock> | |||||||||||||||||||||
| <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock contextRef="d_2021-01-01_2021-03-31" id="c-3"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0pt" cellspacing="0pt" style="margin-right: auto; margin-left: 36pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Years Ending March 31,</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%; border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="text-align: justify; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 14%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">152,580</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2023</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">1,232,082</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2024</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">189,218</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2025</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">196,633</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">2026</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">204,338</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Thereafter</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">4,275,148</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">6,249,999</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div> </us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock> | |||||||||||||||||||||
| <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="d_2021-01-01_2021-03-31" id="c-7"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="2pt" cellspacing="0pt" style="margin-right: 10%; margin-left: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-width: thin 1px 1px; border-style: solid; border-color: rgb(0, 0, 0) black; width: 35%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;">Term</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Square</div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Feet</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">Annual Rent</div></div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0);"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total Commitment (net of</div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">abatement, excluding </div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">renewal options)</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 35%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Jan 2021-Dec 2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">2,284</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">19,414</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 22%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">38,828</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 35%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Jan 2021-Dec 2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,817</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: right; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-(a)</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td colspan="2" style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; text-align: right; margin: 0pt;"><div style="display: inline; font-style: italic; font: inherit;">-(a)</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 35%; border-left: 1px solid black; border-right: 1px solid black;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Jan 2021-Dec 2022</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,905</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 17%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">16,193</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 22%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">32,385</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table></div> </us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock> | |||||||||||||||||||||
| <us-gaap:SecurityDepositLiability contextRef="i_2021-03-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123645" unitRef="iso4217-usd"> 250314 </us-gaap:SecurityDepositLiability> | |||||||||||||||||||||
| <us-gaap:SecurityDepositLiability contextRef="i_2020-12-31_StatementScenarioAxis-BasisOfAccountingLiquidationMember" decimals="INF" id="c73123646" unitRef="iso4217-usd"> 241722 </us-gaap:SecurityDepositLiability> | |||||||||||||||||||||
| <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844569"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">3.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Summary of Significant Accounting Policies</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Gyrodyne intends to dissolve after it completes the disposition of all of its real property assets, applies the proceeds of such dispositions <div style="display: inline; font-style: italic; font: inherit;">first</div> to settle any debts and claims, pending or otherwise, against Gyrodyne, and then makes distributions to holders of Gyrodyne common shares. Therefore, effective <div style="display: inline; font-style: italic; font: inherit;"> September 1, 2015 </div>Gyrodyne adopted the liquidation basis of accounting. This basis of accounting is considered appropriate when, among other things, liquidation of the entity is “imminent”, as defined in ASC <div style="display: inline; font-style: italic; font: inherit;">205</div>-<div style="display: inline; font-style: italic; font: inherit;">30,</div> Presentation of Financial Statements Liquidation Basis of Accounting. Under the LLC Agreement, the Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>elect, in its sole discretion and without any separate approval by shareholders, to dissolve the Company at any time the value of the Company's assets, as determined by the Company in good faith, is less than <div style="display: inline; font-style: italic; font: inherit;">$1</div> million. The LLC Agreement also provides that the Company will dissolve, and its affairs wound up, upon the sale, exchange or other disposition of all the real properties of the Company. As a result, liquidation is deemed to be “imminent” in accordance with the guidance provided in ASC <div style="display: inline; font-style: italic; font: inherit;">205</div>-<div style="display: inline; font-style: italic; font: inherit;">30.</div></div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Principles of Consolidation -</div></div> The consolidated financial statements include the accounts of Gyrodyne and all subsidiaries. All consolidated subsidiaries are wholly owned. All inter-company balances and transactions have been eliminated.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Basis of Presentation - Liquidation Basis of Accounting </div></div>– Under the liquidation basis of accounting the consolidated balance sheet and consolidated statements of operations, equity, comprehensive income and cash flows are <div style="display: inline; font-style: italic; font: inherit;">no</div> longer presented. The consolidated statements of net assets and the consolidated statements of changes in net assets are the principal financial statements presented under the liquidation basis of accounting.</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">Under the liquidation basis of accounting, all the Company's assets have been stated at their estimated net realizable value, or liquidation value, (which represents the estimated amount of cash that Gyrodyne will collect on the disposal of assets as it carries out the plan of liquidation), which is based on current contracts, estimates and other indications of sales value (predicated on current values). All liabilities of the Company, including those estimated costs associated with implementing the plan of liquidation, have been stated at their estimated settlement amounts. These amounts are presented in the accompanying statements of net assets. These estimates are periodically reviewed and adjusted as appropriate. There can be <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance that these estimated values will be realized. Such amounts should <div style="display: inline; font-style: italic; font: inherit;">not</div> be taken as an indication of the timing or amount of future distributions or our actual dissolution. The valuation of assets at their net realizable value and liabilities at their anticipated settlement amount represent estimates, based on present facts and circumstances, of the net realizable value of the assets and the costs associated with carrying out the plan of liquidation. The actual values and costs associated with carrying out the plan of liquidation <div style="display: inline; font-style: italic; font: inherit;"> may </div>differ from amounts reflected in the accompanying consolidated financial statements because of the plan's inherent uncertainty. These differences <div style="display: inline; font-style: italic; font: inherit;"> may </div>be material. In particular, the estimates of our costs will vary with the length of time necessary to complete the plan of liquidation, which is currently anticipated to be completed by <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022. </div>The Company is in the process of pursuing entitlements and density approvals, and our ability to obtain required permits and authorizations is subject to factors beyond our control, including environmental concerns of governmental entities, community groups and purchasers. The process will involve extensive analysis internally at the government entity level, as well as between government entities such as town planning departments and Gyrodyne and or purchasers and will continue up until such time as entitlement and density decisions are made by the relevant government entities. The Company hopes to secure favorable decisions on entitlements and density so that we can then seek the sale of our remaining properties at higher prices than those achievable under their current entitlements and then proceed with the liquidation and dissolution of the Company. Any deviation in use or density between what we are pursuing in our entitlement efforts and what is ultimately permitted could have a material impact on value. The Company expects the process of pursuing entitlements, density approvals, sales, liquidation and dissolution could extend through <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022 </div>with the ultimate timing dependent upon and under the control of the applicable municipality's planning board or other governmental authority and or purchasers. Accordingly, it is <div style="display: inline; font-style: italic; font: inherit;">not</div> possible to predict with certainty the timing or aggregate amount which <div style="display: inline; font-style: italic; font: inherit;"> may </div>ultimately be distributed to common shareholders and <div style="display: inline; font-style: italic; font: inherit;">no</div> assurance can be given that the distributions will equal or exceed the estimate presented in the accompanying consolidated statements of net assets.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">The Company's assumptions and estimates (including the sales proceeds of all its real estate holdings, selling costs, retention bonus payments, rental revenues, rental expenses, capital expenditures, land entitlement costs, general and administrative fees, director and officer liability and reimbursement, post liquidation insurance tail coverage policy and final liquidation costs) are based on completing the liquidation by <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2022. </div>As previously stated, on an ongoing basis, Gyrodyne evaluates the estimates and assumptions that can have a significant impact on the reported net assets in liquidation and will update respective information accordingly for any costs and value associated with a change in the duration of the liquidation, as we cannot give any assurance on the timing of the ultimate sale of all the Company's properties.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Management Estimates </div></div>–<div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"> </div></div>In preparing the consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) and the liquidation basis of accounting, management is required to make estimates and assumptions that affect the reported amounts of assets, including net assets in liquidation, and liabilities, and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of receipts and expenditures for the reporting period. Actual results could differ from those estimates.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Cash equivalents -</div></div> The Company considers all certificates of deposits, money market funds, treasury securities and other highly liquid debt instruments purchased with short-term maturities to be cash equivalents.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Allowance for doubtful accounts </div></div>– Rent receivable is carried at net realizable value. Management makes estimates of the collectability of rents receivable. Management specifically analyzes receivables and historical bad debts, tenant concentrations, tenant creditworthiness, current economic trends, including the impact of the outbreak of the novel strain of coronavirus (COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div>) on tenants' business, and changes in tenant payment patterns when evaluating the adequacy of the allowance for doubtful accounts.</div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Estimated Distributions per Share</div></div> – Under the liquidation basis of accounting, the Company reports estimated distributions per share data by dividing net assets in liquidation by the number of shares outstanding. </div> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">New Accounting Pronouncements -</div></div> Management has evaluated the impact of newly issued accounting pronouncements, whether effective or <div style="display: inline; font-style: italic; font: inherit;">not</div> as of <div style="display: inline; font-style: italic; font: inherit;"> March 31, 2021, </div>and has concluded that they will <div style="display: inline; font-style: italic; font: inherit;">not</div> have a material impact on the Company's consolidated financial statements since the Company reports on a liquidation basis.</div></div> </us-gaap:SignificantAccountingPoliciesTextBlock> | |||||||||||||||||||||
| <us-gaap:SubsequentEventsTextBlock contextRef="d_2021-01-01_2021-03-31" id="s1844589"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">17.</div></div></div> </td> <td> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><div style="display: inline; font-weight: bold;">Subsequent Events</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </div> <div style=" font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 18pt;">On <div style="display: inline; font-style: italic; font: inherit;"> April 26, 2021, </div>the Company closed on the sale of its <div style="display: inline; font-style: italic; font: inherit;">5.0</div>-acre parcel of vacant land that is non-contiguous to and <div style="display: inline; font-style: italic; font: inherit;">not</div> part of the Flowerfield complex in Smithtown, New York for a purchase price of <div style="display: inline; font-style: italic; font: inherit;">$500,000</div> as per the purchase and sale agreement signed on <div style="display: inline; font-style: italic; font: inherit;"> May 11, 2020.</div></div></div> </us-gaap:SubsequentEventsTextBlock> | |||||||||||||||||||||
| <us-gaap:SupplementalUnemploymentBenefitsSeveranceBenefits contextRef="i_2021-03-31_TitleOfIndividualAxis-OtherEmployeesMember" decimals="INF" id="c73123516" unitRef="iso4217-usd"> 81716 </us-gaap:SupplementalUnemploymentBenefitsSeveranceBenefits> | |||||||||||||||||||||
| <us-gaap:UseOfEstimates contextRef="d_2021-01-01_2021-03-31" id="c73123257"> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Management Estimates </div></div>–<div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"> </div></div>In preparing the consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) and the liquidation basis of accounting, management is required to make estimates and assumptions that affect the reported amounts of assets, including net assets in liquidation, and liabilities, and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of receipts and expenditures for the reporting period. Actual results could differ from those estimates.</div></div></div></div></div></div></div> </us-gaap:UseOfEstimates> | |||||||||||||||||||||
| <link:footnoteLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended"> | |||||||||||||||||||||
| <link:loc xlink:href="#c73123550" xlink:label="c73123550" xlink:type="locator"/> | |||||||||||||||||||||
| <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c73123550" xlink:to="f-24-1" xlink:type="arc"/> | |||||||||||||||||||||
| <link:footnote xlink:label="f-24-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"> Excludes Retention Bonus Payments </link:footnote> | |||||||||||||||||||||
| <link:loc xlink:href="#c73123554" xlink:label="c73123554" xlink:type="locator"/> | |||||||||||||||||||||
| <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c73123554" xlink:to="f-26-1" xlink:type="arc"/> | |||||||||||||||||||||
| <link:loc xlink:href="#c73123557" xlink:label="c73123557" xlink:type="locator"/> | |||||||||||||||||||||
| <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c73123557" xlink:to="f-26-2" xlink:type="arc"/> | |||||||||||||||||||||
| <link:footnote xlink:label="f-26-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"> 15% for the Chairman and 10% for each of the other five directors. </link:footnote> | |||||||||||||||||||||
| <link:footnote xlink:label="f-26-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"> The officer discretionary amount of 1.75% will be allocated to the officers within the discretion of the Board. </link:footnote> | |||||||||||||||||||||
| <link:loc xlink:href="#c73123619" xlink:label="c73123619" xlink:type="locator"/> | |||||||||||||||||||||
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| <link:footnote xlink:label="f-30-a" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US"> The Company understood that the tenant's main intent was to sublease the space to artists, on a short-term basis, after which such subtenant artists would transition into their own space leased directly from the Company. Under the master lease, the tenant has the right to sublease the space without prior written consent for use as an art studio, art school or related use. Under the terms of the master lease, rent is payable by the tenant only to the extent the space is sublet, at the rent amount per square foot payable by the subtenant up to a maximum of $10 per square foot per year. The maximum annual and total lease commitment of up to $18,170 and $36,340, respectively. Any space not subleased may be used by the tenant rent-free for certain stated art uses, although the tenant is responsible for certain passthrough expenses such as electric and heat. Since rent is only due if the space is sublet, the Company believes the fair value of the space to the extent not sublet reflects a below market lease over the three months ending March 31, 2021 of $4,543 and total commitments of up to $36,340. </link:footnote> | |||||||||||||||||||||
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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/02/18 Gyrodyne, LLC 8-K:1,9 10/30/18 2:46K RDG Filings/FA 1/31/18 Gyrodyne, LLC 8-K:1,9 1/25/18 3:159K RDG Filings/FA 5/26/16 Gyrodyne, LLC 8-K:1,8,9 5/24/16 3:146K RDG Filings/FA 9/01/15 Gyrodyne, LLC 8-A12B 2:396K RDG Filings/FA 10/21/13 Gyrodyne, LLC S-4 10/18/13 6:6M Toppan Vite NY Inc./FA |