Gyrodyne (GYRO) 10-K 13 Apr 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Apr. 13, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Registrant Name	Gyrodyne, LLC
Entity Central Index Key	0001589061
Trading Symbol	gyro
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		1,482,680
Entity Public Float			$ 11,403,761
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Common shares of limited liability company interests, par value $1.00 per share

Consolidated Statements of Net

Consolidated Statements of Net Assets (Liquidation Basis) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS:
Real Estate Held-for-sale	$ 39,050,000	$ 48,270,000
LIABILITIES:
Accounts payable	893,183	592,743
Accrued liabilities	556,926	178,479
Basis of Accounting, Liquidation [Member]
ASSETS:
Real Estate Held-for-sale	39,050,000	48,270,000
Cash and cash equivalents	1,632,231	2,213,205
Restricted cash	169,000
Rent receivable	21,849	63,132
Other receivables	34,751	41,460
Total Assets	40,907,831	50,587,797
LIABILITIES:
Accounts payable	893,183	592,743
Accrued liabilities	556,926	178,479
Deferred rent liability	15,283	24,316
Tenant security deposits payable	241,722	265,078
Mortgage loans payable	5,159,833	3,780,068
Estimated liquidation and operating costs net of receipts	11,552,940	14,377,476
Total Liabilities	18,419,887	19,218,160
Net assets	$ 22,487,944	$ 31,369,637

Consolidated Statement of Chang

Consolidated Statement of Changes in Net Assets (Liquidation Basis) - Basis of Accounting, Liquidation [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net assets, beginning of period	$ 31,369,637	$ 26,846,670
Change in real estate value	(9,220,000)	12,068,730
Remeasurement of assets and liabilities	338,307	(7,545,763)
Net (decrease)/increase in value	(8,881,693)	4,522,967
Net assets, end of period	$ 22,487,944	$ 31,369,637

Note 1 - The Company

Note 1 - The Company	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. The Company 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. 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. 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 improve the chances of increasing the values for such properties. The value of the real estate reported in the consolidated statements of net assets as of December 31, 2020 2019 not may no Our efforts to generate the highest values for Flowerfield and Cortlandt Manor may first no 14 may $1,000,000. 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: ● Cortlandt Manor:13.8 34,000 ● Flowerfield: 68 10 127,000 63 68 5 68

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies Gyrodyne intends to dissolve after it completes the disposition of all of its real property assets, applies the proceeds of such dispositions first September 1, 2015 205 30, may $1 205 30. Principles of Consolidation - Basis of Presentation - Liquidation Basis of Accounting no 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 no not may may December 31, 2022. December 31, 2022 not may no 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 December 31, 2022. Management Estimates Cash equivalents - Allowance for doubtful accounts 19 Estimated Distributions per Share New Accounting Pronouncements - not December 31, 2020, not

Note 3 - Statements of Net Asse

Note 3 - Statements of Net Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Liquidation Basis of Accounting [Text Block]	3. Statements of Net Assets Net assets as of December 31, 2020 2019 $22,487,944 $31,369,637, $15.17 $21.16 1,482,680 $8,881,693 $5.99 More specifically, in response to the extensive public comments received during the Cortlandt Manor State Environmental Quality Review Draft Generic Environmental Impact Study (“SEQR DGEIS”) public hearing process and input from the Cortlandt Manor Town Board, the Company amended the Cortlandt Manor site plan and subdivision application with the Town to develop the Cortlandt Manor property as follows: SUBDIVISION LOT # BUILDING SIZE/YIELD Medical office Lot #1 100,000 sft Retail (Lot #1) Medical Office Lot #2 1,500 sft 84,600 sft The original site plan, in response to the Town's request, was a mixed-use plan comprising of 100,000 4,000 200 $3,820,000. $5,400,000 may no Additionally, the pandemic has also adversely impacted demand for office (including medical office) and hotel development “on spec”. The Company's subdivision plan at Flowerfield will allow for any combination of the aforementioned uses and is marketing the undeveloped lots to reflect such flexibility. The value degradation of $9,220,000 $1,767,038 $439,203, $7,013,759 $4.73 The cash balance at the end of the liquidation period (currently estimated to be December 31, 2022, may December 31, 2022: 1. 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. 2. Net proceeds from the sale of all the Company's real estate holdings. 3. 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. 4. Costs for the pursuit of entitlements on the Flowerfield and Cortlandt Manor properties. 5. Retention bonus amounts (See Note 12 6. Costs, including principal payments, net of draw-downs on the Company's credit facilities to fund tenant improvements and working capital and related fees. The Company estimates the net realizable value of its real estate assets by using income and market valuation techniques. The Company may 3 No. 820, may The Company estimates that it will incur approximately $1.5 4 January 2021 December 31, 2022, December 31, 2020, $1.0 $1.5 $321,000 first January 2021 not may may December 31, 2020 ( not may no The net assets as of December 31, 2020 ( $22,487,944 2019 $31,369,637 $15.17 $21.16, 1,482,680 not may may not December 31, 2020 may

Note 4 - Estimated Liquidation

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Liquidation Basis of Accounting, Liability for Estimated Costs in Excess of Receipts [Text Block]	4. Estimated Liquidation and Operating Costs Net of Estimated Receipts 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 not The change in the liability for estimated costs in excess of estimated receipts during liquidation from January 1, 2020 December 31, 2020 January 1, 2020 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2020 Assets: Estimated rents and reimbursements $ 4,309,328 $ (2,432,540 ) $ 3,049,860 $ 4,926,648 Liabilities: Property operating costs (2,594,954 ) 1,506,037 (1,972,487 ) (3,061,404 ) Capital expenditures (474,133 ) 13,495 - (460,638 ) Land entitlement costs (1,847,127 ) 1,013,966 (657,538 ) (1,490,699 )* Corporate expenditures (6,196,551 ) 2,139,978 (2,287,769 ) (6,344,342 ) Selling costs on real estate assets** (3,497,200 ) - 439,203 (3,057,997 ) Retention bonus payments to directors, officers and employees** (4,680,518 ) - 1,767,038 (2,913,480 ) Less prepaid expenses and other assets 603,679 245,293 - 848,972 Liability for estimated liquidation and operating costs net of estimated receipts $ (14,377,476 ) $ 2,486,229 $ 338,307 $ (11,552,940 ) *The Company reached agreements with certain service vendors to defer payment of approximately $321,000 $1.5 first **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 two not The change in the liability for estimated costs in excess of estimated receipts during liquidation from January 1, 2019 December 31, 2019 January 1, 2019 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2019 Assets: Estimated rents and reimbursements $ 3,418,285 $ (2,600,047 ) $ 3,491,090 $ 4,309,328 Liabilities: Property operating costs (2,084,955 ) 1,536,010 (2,046,009 ) (2,594,954 ) Capital expenditures (1,130,844 ) 616,230 40,481 (474,133 ) Land entitlement costs (1,468,474 ) 1,422,192 (1,800,845 ) (1,847,127 ) Corporate expenditures (4,904,367 ) 2,167,814 (3,459,998 ) (6,196,551 ) Selling costs on real estate assets* (2,437,076 ) - (1,060,124 ) (3,497,200 ) Retention bonus payments to directors, officers and employees* (1,984,733 ) 14,573 (2,710,358 ) (4,680,518 ) Less prepaid expenses and other assets 397,854 205,825 - 603,679 Liability for estimated liquidation and operating costs net of estimated receipts $ (10,194,310 ) $ 3,362,597 $ (7,545,763 ) $ (14,377,476 ) *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.

Note 5 - Disposition Activities

Note 5 - Disposition Activities	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	5. Disposition Activities Properties Under Contract Flowerfield - May 11, 2020, 5.0 not $500,000. $25,000 $475,000 Under the Non-Contiguous Property Agreement: (i) Buyer will have the right during an investigation period to conduct a phase 1 not 20th The Non-Contiguous Property Agreement is also contingent on the receipt of a Certificate of Correction/Subdivision Plan (“Correction Plan”) signed and approved by the Town of Smithtown and the Suffolk County Department of Health Services (“SCDHS”) for the Non-Contiguous Property and the recharge basin and building Permits Approval (as defined in the Non-Contiguous Property Agreement and as described below). The Approval condition requires that the Buyer obtain the Correction Plan to create the two The Correction Plan is specifically delineated in the Non-Contiguous Property Agreement. In March 2021, second 2021. Terminated Contracts Flowerfield - August 27, 2019, 9.0 $16,800,000 not On March 16, 2021, 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 eight one 2002 no eight Cortlandt Manor - December 7, 2019, 4.5 $5,720,000. The SC Agreement provided that SC LLC would have the right to terminate the SC Agreement by written notice to GSD prior to the expiration of a defined inspection period (which had been extended via amendments to the SC Agreement) if SC LLC was not On February 1, 2021,

Note 6 - Loans Payable

Note 6 - Loans Payable	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	6. Loans Payable The Company secured a non-revolving credit line for up to $3,000,000 March 21, 2018. first eight April 30, 2021 $3,000,000 April 30, 2028 84 150 1.5% 1/8 not 4.75%. 7 200 2% 1/8 not 3.85%, 20 3.85%. The first $1.1 $1.1 March 29, 2019 December 31, 2018. To secure access to additional working capital through the final sale date of the Flowerfield industrial buildings, the Company secured a second $3,000,000, January 24, 2019. first twenty-four January 20, 2028 ( 84 May 20, 2021 $3,000,000 May 20, 2028 84 100 1% 1/8 no 4.75%. 7 200 2% 1/8 not 3.85%, 20 3.85%. $1,580,068, $1,000,000 $419,932 2019, 2020 January 2021, Both lines are secured by approximately 31.8 December 31, 2020, 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 $2,500,000 July 16, 2020. 24 12 100 1% 1/8 no four three 4.75% one February 22, 2021, $379,765 $670,235, January 28, 2021, $1,450,000 The line is secured by the Cortlandt property ( 13.8 31.8 The loans payable mature upon the earlier of the sale of the Flowerfield Industrial Park or as follows: Years Ending December 31, 2021 $ 99,913 2022 545,562 2023 172,295 2024 179,046 2025 186,063 Thereafter 3,976,954 Total $ 5,159,833

Note 7 - Real Estate

Note 7 - Real Estate	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	7. Real Estate The Company reports its financial statements under the liquidation basis of accounting which reflects real estate value at net realizable value (predicated on current asset values). During 2020, $9,220,000 2019 $12,068,730. 2020 one 2019 5 December 31, 2020 $39,050,000. 2020 2019 Net Realizable Value at beginning of period $ 48,270,000 $ 36,201,270 Change in Net Realizable Value Cortlandt Manor (3,820,000 ) 2,010,000 Flowerfield (5,400,000 ) 10,058,730 Net Realizable Value on December 31, $ 39,050,000 $ 48,270,000

Note 8 - Accounts Payable and A

Note 8 - Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. Accounts Payable and Accrued Liabilities Accounts Payable Accrued Liabilities December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Current accounts payable $ 241,963 $ 338,383 Accrued liabilities $ 188,554 $ 178,479 Other accounts payable (a) 651,220 254,360 Deferred Compensation to Directors (b) 368,372 - Total $ 893,183 $ 592,743 Total $ 556,926 $ 178,479 (a) The Company reached agreements with certain service vendors to defer payment until the closing of the first (b) The director fees and interest accrued under the deferred Compensation Plan where each director elected to defer 100% 2020 2021. Accrued liabilities on December 31, 2020 2019 December 31, 2020 2019 Payroll and related taxes $ 48,701 $ 40,011 Professional fees 139,853 101,468 Other - 37,000 Total $ 188,554 $ 178,479

Note 9 - Income Taxes

Note 9 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Income Taxes As a limited liability company, Gyrodyne is not 1065, 1 The Bipartisan Budget Act of 2015 “2015 December 31, 2017. 2015 December 31, 2017 may January 1, 2018

Note 10 - Credit Quality of Ren

Note 10 - Credit Quality of Rents Receivable	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	10. Credit Quality of Rents Receivable The Company's standard lease terms include rent due on the first ten not one 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 not As of December 31, 2020 2019, Allowance for Doubtful Accounts December 31, 2020 December 31, 2019 Beginning balance $ - $ 13,000 Accounts receivable (written off) - (13,000 ) Ending Balance $ - $ -

Note 11 - Concentration of Cred

Note 11 - Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2020
Credit Concentration Risk [Member]
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	11. Concentration of Credit Risk 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 one not not not December 31, 2020 2019. For the year ended December 31, 2020 three 24%, 21% 9% three December 31, 2020 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 not 37% 2021 no

Note 12 - Commitments

Note 12 - Commitments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments Disclosure [Text Block]	12. Commitments As of December 31, 2020 2019, 2020 2019 Management Employment agreements with bonus* and severance commitment contingencies $ 350,000 $ 350,000 Other employee severance commitment contingencies 81,716 81,716 Total $ 431,716 $ 431,716 *Excludes Retention Bonus Payments Employment agreements - $125,000 6 The Company also has an employment agreement with its Chief Operating Officer (“COO”) executed on May 8, 2014 6 January 25, 2018, Under Company policy the aggregate severance commitment contingency to other employees is approximately $81,716. Retention Bonus Plan- May 2014, three no The Plan provides for a bonus pool funded with an amount equal to 5% 2013 2013 2013 10% first 10% 15% 10% 20% 20%. 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: Board Members/Employees Bonus Pool Percentage Board Members(a) 65.000 % Chief Executive Officer 15.474 % Chief Operations Officer 13.926 % Officer Discretionary Amount (b) 1.750 % Other Employees 3.850 % Total 100.000 % (a) 15% 10% five (b) The officer discretionary amount of 1.75% 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 60 60 The Plan provides that no No. 3 2013 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 three four December 31 Under the Plan, there were no 2020. December 31, 2019 RETENTION BONUS PLAN PARTICPANTS 2019 Board of Directors $ 9,471 President and Chief Executive Officer 2,390 Chief Operating Officer 2,151 Other Employees 561 Total $ 14,573 Deferred Compensation Plan - December 6, 2019, January 1, 2020. may 5%. December 15, 2026, 100% 2020 2021.

Note 13 - Fair Value of Financi

Note 13 - Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	13. Fair Value of Financial Instruments Assets and Liabilities Measured at Fair-Value 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. The guidance emphasizes that fair-value is a market-based measurement, not 1 2 No. 820, 3 Fair Value Measurements - September 1, 2015; The Company estimates the net realizable value of its real estate assets by using income and market valuation techniques. The Company may 3 may

Note 14 - Contingencies

Note 14 - Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Contingencies Disclosure [Text Block]	14. Contingencies Putative Class Action Lawsuit - August 14, 2015, 2014. As of December 31, 2020 2019, 2014 General - not

Note 15 - COVID-19

Note 15 - COVID-19	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Effect of Covid-19 Pandemic [Text Block]	15. COVID- 19 In December 2019, first 2020, 2, 19, February March 2020, March 21 , 2020, March 22, 2020 April 19, 2020. 90 April 16, 2020, May 15, 2020. ● The infection rate is sufficiently low; ● The health care system has the capacity to absorb a potential resurgence in new cases; ● Diagnostic testing capacity is sufficiently high to detect and isolate new cases; and ● Robust contact-tracing capacity is in place to help prevent the spread of the virus. While most business in all regions have opened under certain guidelines (including occupancy limitations), a rise in COVID- 19 Beginning March 16, 2020, Small businesses have been and are expected to continue to be adversely affected disproportionately by the economic ramifications of COVID- 19. not 37% $776,000 2021. 19 may 19 19 The COVID- 19 The extent of the impact of COVID- 19 19 may 19.

Note 16 - Related Party Transac

Note 16 - Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	16. Related Party Transactions The Company has entered into various leasing arrangements with a not no Term Square Feet Annual Rent Total Commitment (excluding renewal options) Additional Commitment (assumes two-year renewal option is exercised) Jan 2019-Dec 2020 2,284 $ 19,414 $ 38,828 $ 38,828 Jan 2019-Dec 2020 1,817 -(a) -(a) -(a) Jan 2019-Dec 2020 1,905 $ 16,193 $ 32,385 $ 32,385 (a) In February 2019, not August 2016. $10 2,130 $18,170 $36,340, $3,500 not may not December 31, 2020 $18,170 two $72,680. In December 2020, second December 31, 2022. During the twelve December 31, 2020 2019, $35,607 $34,720, The independent members of the Board of the Company approved all of the leasing transaction described above. The Chairman is also a partner of the firm Lamb & Barnosky, LLP that provided pro bono legal representation to the aforementioned not

Note 17 - Reclassifications

Note 17 - Reclassifications	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Reclassifications [Text Block]	17. Reclassifications Certain amounts in the prior period have been reclassified to conform to the classification used in the current period due to the agreements with certain service vendors to defer payment until the closing of the first

Note 18 - Subsequent Events

Note 18 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	18. Subsequent Events Cortlandt Manor. December 7, 2019, 4.5 $5,720,000. The SC Agreement provided that SC LLC would have the right to terminate the SC Agreement by written notice to GSD prior to the expiration of a defined inspection period (which had been extended via amendments to the SC Agreement) if SC LLC was not On February 1, 2021, Flowerfield. August 27, 2019, 9.0 $16,800,000 not On March 16, 2021, 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 eight one 2002 no eight Credit Facility May 20, 2021 $3,000,000 May 20, 2028 84 On February 22, 2021,

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation -
Liquidation Basis of Accounting [Policy Text Block]	Basis of Presentation - Liquidation Basis of Accounting no 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 no not may may December 31, 2022. December 31, 2022 not may no 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 December 31, 2022.
Use of Estimates, Policy [Policy Text Block]	Management Estimates
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash equivalents -
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Allowance for doubtful accounts 19
Earnings Per Share, Policy [Policy Text Block]	Estimated Distributions per Share
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements - not December 31, 2020, not

Note 3 - Statements of Net As_2

Note 3 - Statements of Net Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	2020 2019 Net Realizable Value at beginning of period $ 48,270,000 $ 36,201,270 Change in Net Realizable Value Cortlandt Manor (3,820,000 ) 2,010,000 Flowerfield (5,400,000 ) 10,058,730 Net Realizable Value on December 31, $ 39,050,000 $ 48,270,000
Cortlandt Manor Property In New York [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	SUBDIVISION LOT # BUILDING SIZE/YIELD Medical office Lot #1 100,000 sft Retail (Lot #1) Medical Office Lot #2 1,500 sft 84,600 sft

Note 4 - Estimated Liquidatio_2

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Liquidation Basis of Accounting, Change in Liability for Estimated Costs in Excess of Estimated Receipts [Table Text Block]	January 1, 2020 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2020 Assets: Estimated rents and reimbursements $ 4,309,328 $ (2,432,540 ) $ 3,049,860 $ 4,926,648 Liabilities: Property operating costs (2,594,954 ) 1,506,037 (1,972,487 ) (3,061,404 ) Capital expenditures (474,133 ) 13,495 - (460,638 ) Land entitlement costs (1,847,127 ) 1,013,966 (657,538 ) (1,490,699 )* Corporate expenditures (6,196,551 ) 2,139,978 (2,287,769 ) (6,344,342 ) Selling costs on real estate assets** (3,497,200 ) - 439,203 (3,057,997 ) Retention bonus payments to directors, officers and employees** (4,680,518 ) - 1,767,038 (2,913,480 ) Less prepaid expenses and other assets 603,679 245,293 - 848,972 Liability for estimated liquidation and operating costs net of estimated receipts $ (14,377,476 ) $ 2,486,229 $ 338,307 $ (11,552,940 ) January 1, 2019 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2019 Assets: Estimated rents and reimbursements $ 3,418,285 $ (2,600,047 ) $ 3,491,090 $ 4,309,328 Liabilities: Property operating costs (2,084,955 ) 1,536,010 (2,046,009 ) (2,594,954 ) Capital expenditures (1,130,844 ) 616,230 40,481 (474,133 ) Land entitlement costs (1,468,474 ) 1,422,192 (1,800,845 ) (1,847,127 ) Corporate expenditures (4,904,367 ) 2,167,814 (3,459,998 ) (6,196,551 ) Selling costs on real estate assets* (2,437,076 ) - (1,060,124 ) (3,497,200 ) Retention bonus payments to directors, officers and employees* (1,984,733 ) 14,573 (2,710,358 ) (4,680,518 ) Less prepaid expenses and other assets 397,854 205,825 - 603,679 Liability for estimated liquidation and operating costs net of estimated receipts $ (10,194,310 ) $ 3,362,597 $ (7,545,763 ) $ (14,377,476 )

Note 6 - Loans Payable (Tables)

Note 6 - Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Maturities of Long-term Debt [Table Text Block]	Years Ending December 31, 2021 $ 99,913 2022 545,562 2023 172,295 2024 179,046 2025 186,063 Thereafter 3,976,954 Total $ 5,159,833

Note 7 - Real Estate (Tables)

Note 7 - Real Estate (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	2020 2019 Net Realizable Value at beginning of period $ 48,270,000 $ 36,201,270 Change in Net Realizable Value Cortlandt Manor (3,820,000 ) 2,010,000 Flowerfield (5,400,000 ) 10,058,730 Net Realizable Value on December 31, $ 39,050,000 $ 48,270,000

Note 8 - Accounts Payable and_2

Note 8 - Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	Accounts Payable Accrued Liabilities December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Current accounts payable $ 241,963 $ 338,383 Accrued liabilities $ 188,554 $ 178,479 Other accounts payable (a) 651,220 254,360 Deferred Compensation to Directors (b) 368,372 - Total $ 893,183 $ 592,743 Total $ 556,926 $ 178,479
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2020 2019 Payroll and related taxes $ 48,701 $ 40,011 Professional fees 139,853 101,468 Other - 37,000 Total $ 188,554 $ 178,479

Note 10 - Credit Quality of R_2

Note 10 - Credit Quality of Rents Receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Allowance for Doubtful Accounts December 31, 2020 December 31, 2019 Beginning balance $ - $ 13,000 Accounts receivable (written off) - (13,000 ) Ending Balance $ - $ -

Note 12 - Commitments (Tables)

Note 12 - Commitments (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Other Commitments [Table Text Block]	2020 2019 Management Employment agreements with bonus* and severance commitment contingencies $ 350,000 $ 350,000 Other employee severance commitment contingencies 81,716 81,716 Total $ 431,716 $ 431,716
Schedule of Allocation of Bonus Pool Percentage [Table Text Block]	Board Members/Employees Bonus Pool Percentage Board Members(a) 65.000 % Chief Executive Officer 15.474 % Chief Operations Officer 13.926 % Officer Discretionary Amount (b) 1.750 % Other Employees 3.850 % Total 100.000 %
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block]	RETENTION BONUS PLAN PARTICPANTS 2019 Board of Directors $ 9,471 President and Chief Executive Officer 2,390 Chief Operating Officer 2,151 Other Employees 561 Total $ 14,573

Note 16 - Related Party Trans_2

Note 16 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Term Square Feet Annual Rent Total Commitment (excluding renewal options) Additional Commitment (assumes two-year renewal option is exercised) Jan 2019-Dec 2020 2,284 $ 19,414 $ 38,828 $ 38,828 Jan 2019-Dec 2020 1,817 -(a) -(a) -(a) Jan 2019-Dec 2020 1,905 $ 16,193 $ 32,385 $ 32,385

Note 1 - The Company (Details T

Note 1 - The Company (Details Textual)	Sep. 01, 2015USD ($)	Dec. 31, 2020USD ($)ft²a
St. James, New York [Member] | Controlled by Parent Company [Member]
Area of Land (Acre)		68
Multi-Tenant Industrial Park [Member]
Area of Real Estate Property (Square Foot)		10
Flowerfield Industrial Park [Member]
Area of Real Estate Property (Square Foot) | ft²		127,000
Flowerfield Complex in Smithtown, New York [Member]
Area of Real Estate Property (Square Foot)		63
Zoned Residential, and Non-contiguous to the Flowerfield Property [Member]
Area of Land (Acre)		5
Cortlandt Manor Medical Center [Member]
Area of Land (Acre)		13.8
Area of Real Estate Property (Square Foot) | ft²		34,000
The Corporation [Member]
Maximum Value of Asset to Effect Dissolution | $	$ 1,000,000	$ 1,000,000

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Sep. 01, 2015	Dec. 31, 2020
The Corporation [Member]
Maximum Value of Asset to Effect Dissolution	$ 1,000,000	$ 1,000,000

Note 3 - Statements of Net As_3

Note 3 - Statements of Net Assets (Details Textual)	12 Months Ended				24 Months Ended
	Dec. 31, 2020USD ($)ft²$ / sharesshares		Dec. 31, 2019USD ($)ft²$ / shares		Dec. 31, 2022USD ($)	Dec. 31, 2018USD ($)
Medical Office [Member]
Area of Real Estate Property (Square Foot) | ft²			100,000
Retail [Member]
Area of Real Estate Property (Square Foot) | ft²	1,500		4,000
Multitenant Residential [Member]
Number of Units in Real Estate Property			200
Basis of Accounting, Liquidation [Member]
Net Assets, Ending Balance	$ 22,487,944		$ 31,369,637			$ 26,846,670
Liquidation Basis of Accounting, Common Stock Per Share, Net (in dollars per share) | $ / shares	$ 15.17		$ 21.16
Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares	1,482,680
Liquidation Basis of Accounting, Net Increase (Decrease) in Liquidation Value	$ (8,881,693)		$ 4,522,967
Liquidation Basis of Accounting, Net Increase (Decrease) in Liquidation Value Per Share (in dollars per share) | $ / shares	$ (5.99)
Liquidation Basis of Accounting Change in Liquidation Value of Real Estate	$ (9,220,000)		12,068,730
Liquidation Basis of Accounting, Remeasurement Gain (Loss) on Liability Retention Bonus Payments to Executives and Other Employees	1,767,038	[1]	(2,710,358)	[2]
Liquidation Basis of Accounting, Remeasurement Gain (Loss) on Liability Selling Costs on Real Estate Assets	439,203	[1]	$ (1,060,124)	[2]
Liquidation Basis of Accounting, Increase (Decrease) in Net Assets in Liquidation Value	$ 7,013,759
Liquidation Basis of Accounting, Increase (Decrease) in Net Assets in Liquidation Value, Per Share (in dollars per share) | $ / shares	$ 4.73
Liquidation Basis of Accounting, Land Entitlement Costs Incurred	$ 1,000,000
Liquidation Basis of Accounting, Common Stock Per Share (in dollars per share) | $ / shares	$ 15.17		$ 21.16
Basis of Accounting, Liquidation [Member] | Change from Partly Residential Use to All Medical [Member]
Liquidation Basis of Accounting Change in Liquidation Value of Real Estate	$ 3,820,000
Basis of Accounting, Liquidation [Member] | Market Driven Decline in Real Estate Value [Member]
Liquidation Basis of Accounting Change in Liquidation Value of Real Estate	$ 5,400,000
Forecast [Member]
Liquidation Basis of Accounting, Land Entitlement Costs					$ 1,500,000
Liquidation Basis of Accounting, Land Entitlement Costs Incurred, Amount Deferred					$ 321,000
[1]	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 two Cortlandt lots would not 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.
[2]	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.

Note 3 - Statements of Net As_4

Note 3 - Statements of Net Assets - Development of Cortlandt Manor Property (Details) - ft²	Dec. 31, 2020	Dec. 31, 2019
Medical Office Lot 2 [Member]
Building size/yield (Square Foot)	84,600
Medical Office Lot 1 [Member]
Building size/yield (Square Foot)	100,000
Retail [Member]
Building size/yield (Square Foot)	1,500	4,000

Note 4 - Estimated Liquidatio_3

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts (Details Textual) - Closing of the First Property Lot Sale, Subject of Either Flowerfield or Cortlandt Manor Subidivision [Member]	12 Months Ended
	Dec. 31, 2020USD ($)
Liquidation Basis of Accounting, Land Entitlement Costs Incurred, Amount Deferred	$ 321,000
Liquidation Basis of Accounting, Land Entitlement Costs Incurred	$ 1,500,000

Note 4 - Estimated Liquidatio_4

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts - Changes in Liability for Estimated Costs in Excess of Estimated Receipts (Details) - Basis of Accounting, Liquidation [Member] - USD ($)		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019
Estimated rents and reimbursements		$ 4,309,328		$ 3,418,285
Estimated rents and reimbursements		(2,432,540)		(2,600,047)
Estimated rents and reimbursements		3,049,860		3,491,090
Estimated rents and reimbursements		4,926,648		4,309,328
Property operating costs		(2,594,954)		(2,084,955)
Property operating costs		1,506,037		1,536,010
Property operating costs		(1,972,487)		(2,046,009)
Property operating costs		(3,061,404)		(2,594,954)
Capital expenditures		(474,133)		(1,130,844)
Capital expenditures		13,495		616,230
Capital expenditures				40,481
Capital expenditures		(460,638)		(474,133)
Land entitlement costs		(1,847,127)		(1,468,474)
Land entitlement costs		1,013,966		1,422,192
Land entitlement costs		(657,538)		(1,800,845)
Land entitlement costs		(1,490,699)	[1]	(1,847,127)
Corporate expenditures		(6,196,551)		(4,904,367)
Corporate expenditures		2,139,978		2,167,814
Corporate expenditures		(2,287,769)		(3,459,998)
Corporate expenditures		(6,344,342)		(6,196,551)
Selling costs on real estate assets**	[2]	(3,497,200)		(2,437,076)
Selling costs on real estate assets**			[3]		[2]
Selling costs on real estate assets**		439,203	[3]	(1,060,124)	[2]
Selling costs on real estate assets**		(3,057,997)	[3]	(3,497,200)	[2]
Retention bonus payments to directors, officers and employees**	[2]	(4,680,518)		(1,984,733)
Retention bonus payments to directors, officers and employees**			[3]	14,573	[2]
Liquidation Basis of Accounting, Remeasurement Gain (Loss) on Liability Retention Bonus Payments to Executives and Other Employees		1,767,038	[3]	(2,710,358)	[2]
Retention bonus payments to directors, officers and employees**		(2,913,480)	[3]	(4,680,518)	[2]
Less prepaid expenses and other assets		603,679		397,854
Less prepaid expenses and other assets		245,293		205,825
Less prepaid expenses and other assets		848,972		603,679
Liability for estimated liquidation and operating costs net of estimated receipts		(14,377,476)		(10,194,310)
Liability for estimated liquidation and operating costs net of estimated receipts		2,486,229		3,362,597
Liability for estimated liquidation and operating costs net of estimated receipts		338,307		(7,545,763)
Liability for estimated liquidation and operating costs net of estimated receipts		$ (11,552,940)		$ (14,377,476)
[1]	The Company reached agreements with certain service vendors to defer payment of approximately $321,000 of the $1.5 million until the closing of the first property lot sale that is the subject of either the Flowerfield or Cortlandt Manor subdivision, respectively.
[2]	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.
[3]	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 two Cortlandt lots would not 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.

Note 5 - Disposition Activiti_2

Note 5 - Disposition Activities (Details Textual)	May 11, 2020USD ($)a	Dec. 07, 2019USD ($)a	Aug. 27, 2019USD ($)a
Flowerfield Complex in Smithtown, New York [Member]
Area of Land (Acre) | a			9
Flowerfield Complex in Smithtown, New York [Member] | BSL St. James LLC [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total			$ 16,800,000
Cortlandt Manor Property In New York [Member]
Area of Land (Acre) | a		4.5
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 5,720,000
Sale of Vacant Land [Member]
Area of Real Estate Property (Square Foot) | a	5
Sale of Real Estate Property, Purchase Price	$ 500,000
Proceeds from Sale of Real Estate, Total	25,000
Sale of Real Estate Property, Amount Receivable	$ 475,000

Note 6 - Loans Payable (Details

Note 6 - Loans Payable (Details Textual)	Mar. 20, 2021USD ($)	Jan. 28, 2021USD ($)	Jul. 16, 2020USD ($)a	Mar. 29, 2019USD ($)	Jan. 24, 2019USD ($)	Mar. 21, 2018USD ($)	Jan. 31, 2021USD ($)	Jul. 16, 2020USD ($)a	Dec. 31, 2020USD ($)ft²a	Dec. 31, 2019USD ($)
Cortlandt Manor Medical Center [Member]
Area of Real Estate Property (Square Foot) | ft²									34,000
Real Estate Securing Mortgage Loan [Member] | Flowerfield Industrial Park [Member]
Area of Real Estate Property (Square Foot) | a			31.8					31.8	31.8
Real Estate Securing Mortgage Loan [Member] | Cortlandt Manor Medical Center [Member]
Area of Real Estate Property (Square Foot) | a			13.8					13.8
Non-revolving Credit Line [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 3,000,000	$ 3,000,000
Debt Instrument, Interest Only Phase, Term (Month)						240 days
Debt Instrument, Interest and Principal Phase, Term (Month)					7 years
Proceeds from Lines of Credit, Total				$ 1,100,000	$ 1,100,000
Non-revolving Credit Line [Member] | Interest Only Period of Payments [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate					4.75%
Non-revolving Credit Line [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate					1.50%
Non-revolving Credit Line [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Basis Spread on Variable Rate					2.00%
Debt Instrument, Amortization Period (Year)					20 years
Debt Instrument, Interest Rate, Effective Percentage					3.85%
Non-revolving Credit Line [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate					3.85%
Non-revolving Credit Line 2 [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 3,000,000
Debt Instrument, Interest Only Phase, Term (Month)					2 years
Debt Instrument, Interest and Principal Phase, Term (Month)					7 years
Proceeds from Lines of Credit, Total									$ 1,000,000	$ 1,580,068
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member]
Proceeds from Lines of Credit, Total							$ 419,932
Non-revolving Credit Line 2 [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Amortization Period (Year)					20 years
Debt Instrument, Interest Rate, Effective Percentage					3.85%
Non-revolving Credit Line 2 [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate					1.00%
Non-revolving Credit Line 2 [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate					4.75%
Non-revolving Credit Line 2 [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Basis Spread on Variable Rate					2.00%
Non-revolving Credit Line 2 [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate					3.85%
Non-revolving Credit Line 3 [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 2,500,000					$ 2,500,000
Debt Instrument, Interest Only Phase, Term (Month)								2 years
Proceeds from Lines of Credit, Total			$ 379,765
Line of Credit Facility, Remaining Borrowing Capacity									$ 1,450,000
Non-revolving Credit Line 3 [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000
Debt Instrument, Interest and Principal Phase, Term (Month)	7 years
Proceeds from Lines of Credit, Total		$ 670,235
Non-revolving Credit Line 3 [Member] | Interest Only Period of Payments [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage			4.75%					4.75%
Non-revolving Credit Line 3 [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate								1.00%

Note 6 - Loans Payable - Loan M

Note 6 - Loans Payable - Loan Maturity (Details)	Dec. 31, 2020USD ($)
2021	$ 99,913
2022	545,562
2023	172,295
2024	179,046
2025	186,063
Thereafter	3,976,954
Total	$ 5,159,833	[1]
[1]	Excludes repayment of the Paycheck Protection Program Loan as we believe we have met the requirements for forgiveness.

Note 7 - Real Estate (Details T

Note 7 - Real Estate (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate Held-for-sale, Period Increase (Decrease)	$ (9,220,000)	$ 12,068,730
Real Estate Held-for-sale	$ 39,050,000	$ 48,270,000	$ 36,201,270

Note 7 - Real Estate - Real Est

Note 7 - Real Estate - Real Estate Disclosure (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Realizable Value at beginning of period	$ 48,270,000	$ 36,201,270
Increase (decrease) in net realizable value	(9,220,000)	12,068,730
Net Realizable Value on December 31,	39,050,000	48,270,000
Cortlandt Manor Medical Center [Member]
Increase (decrease) in net realizable value	(3,820,000)	2,010,000
Flowerfield Properties, Inc. [Member]
Increase (decrease) in net realizable value	$ (5,400,000)	$ 10,058,730

Note 8 - Accounts Payable and_3

Note 8 - Accounts Payable and Accrued Liabilities (Details Textual)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Director Fees, Deferred, Percentage		100.00%
Forecast [Member]
Director Fees, Deferred, Percentage	100.00%

Note 8 - Accounts Payable and_4

Note 8 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - USD ($)		Dec. 31, 2020	Dec. 31, 2019
Current accounts payable		$ 241,963	$ 338,383
Accrued liabilities		188,554	178,479
Other accounts payable (a)	[1]	651,220	254,360
Deferred Compensation to Directors (b)	[2]	368,372
Total accounts payable		893,183	592,743
Total, accrued liabilities		$ 556,926	$ 178,479
[1]	The Company reached agreements with certain service vendors to defer payment until the closing of the first property lot sale that is the subject of either the Flowerfield or Cortlandt Manor subdivision, respectively.
[2]	The director fees and interest accrued under the deferred Compensation Plan where each director elected to defer 100% of his fees for 2020 and 2021. This amount also includes the deferred compensation of a Board advisor per an agreement to defer payments due.

Note 8 - Accrued Liabilities -

Note 8 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Payroll and related taxes	$ 48,701	$ 40,011
Professional fees	139,853	101,468
Other		37,000
Total, accrued liabilities	$ 556,926	$ 178,479

Note 10 - Credit Quality of R_3

Note 10 - Credit Quality of Rents Receivable - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Beginning balance		$ 13,000
Accounts receivable (written off)		(13,000)
Ending Balance

Note 11 - Concentration of Cr_2

Note 11 - Concentration of Credit Risk (Details Textual)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Rental Income [Member]
Number of Major Customers		3
Customer Concentration Risk [Member] | Rental Income [Member] | Customer 1 [Member]
Concentration Risk, Percentage		24.00%
Customer Concentration Risk [Member] | Rental Income [Member] | Customer 2 [Member]
Concentration Risk, Percentage		21.00%
Customer Concentration Risk [Member] | Rental Income [Member] | Customer 3 [Member]
Concentration Risk, Percentage		9.00%
Customer Concentration Risk [Member] | Rental Income [Member] | Small Businesses and Not-for-Profit Corporations [Member] | Forecast [Member]
Concentration Risk, Percentage	37.00%

Note 12 - Commitments (Details

Note 12 - Commitments (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	May 31, 2014
Other Commitment, Total		$ 431,716		$ 431,716
Bonus Pool Funding as Percentage of Appraised Value of Contributed Properties					5.00%
Additional Bonus Pool Funding, Percentage of Gross Sales Price on First Ten Percent Of Property Appreciation					10.00%
Additional Bonus Pool, Funding Percentage of Gross Sales Price on Second Ten Percent of Property Appreciation					15.00%
Additional Bonus Pool Funding, Percentage of Gross Sales Price on Property Appreciation Greater than Twenty Percent					20.00%
Deferred Compensation Arrangement with Individual, Distribution Paid		$ 0
Deferred Compensation Arrangement Fixed Interest Rate			5.00%
Director Fees, Deferred, Percentage		100.00%
Forecast [Member]
Director Fees, Deferred, Percentage	100.00%
Chief Executive Officer [Member] | Bonus Payable [Member]
Other Commitment, Total		$ 125,000
Other Employees [Member]
Supplemental Unemployment Benefits, Severance Benefits		$ 81,716
Board of Directors Chairman [Member]
Bonus Pool Distribution Proportions					15.00%
Other 5 Directors [Member]
Bonus Pool Distribution Proportions					10.00%
Executives and Employees [Member]
Bonus Pool Distribution Proportions					1.75%

Note 12 - Commitments - Other C

Note 12 - Commitments - Other Commitments (Details) - USD ($)		Dec. 31, 2020	Dec. 31, 2019
Contractual obligation		$ 431,716	$ 431,716
Management Employment Agreements with Bonus and Severance Commitment Contingencies [Member]
Contractual obligation	[1]	350,000	350,000
Other Employee Severance Commitment Contingencies [Member]
Contractual obligation		$ 81,716	$ 81,716
[1]	Excludes Retention Bonus Payments

Note 12 - Commitments - Allocat

Note 12 - Commitments - Allocation of Retention Bonus (Details)	Dec. 31, 2020
Bonus pool percentage	100.00%
Board Members [Member]
Bonus pool percentage	65.00%	[1]
Chief Executive Officer [Member]
Bonus pool percentage	15.474%
Chief Operating Officer [Member]
Bonus pool percentage	13.926%
Officer [Member]
Bonus pool percentage	1.75%	[2]
Other Employees [Member]
Bonus pool percentage	3.85%
[1]	15% for the Chairman and 10% for each of the other five directors.
[2]	The officer discretionary amount of 1.75% will be allocated to the officers within the discretion of the Board.

Note 12 - Commitments - Payment

Note 12 - Commitments - Payments Under Retention Bonus Plan (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Distributions paid	$ 14,573
Board Members [Member]
Distributions paid	9,471
Chief Executive Officer [Member]
Distributions paid	2,390
Chief Operating Officer [Member]
Distributions paid	2,151
Other Employees [Member]
Distributions paid	$ 561

Note 15 - COVID-19 (Details Tex

Note 15 - COVID-19 (Details Textual) - Small Businesses and Not-for-Profit Corporations [Member] - Forecast [Member]	12 Months Ended
	Dec. 31, 2021USD ($)
Operating Lease, Lease Income, Total	$ 776,000
Rental Income [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	37.00%

Note 16 - Related Party Trans_3

Note 16 - Related Party Transactions (Details Textual) - Not-for-profit Corporation [Member]	1 Months Ended	12 Months Ended
	Feb. 28, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Aug. 31, 2016ft²
Operating Lease, Lease Income, Total		$ 35,607	$ 34,720
Lease Term August 2016 Through December 2018 [Member]
Rent Amount Per Square Foot Per Month, Maximum	10
Area of Real Estate Property (Square Foot) | ft²				2,130
Annual Rent	$ 18,170
Operating Leases, Maximum Total Lease Commitment	36,340
Payments for Tenant Improvements	$ 3,500
Commitments, Fair Value Disclosure		$ 18,170
Lessor, Operating Lease, Renewal Term (Year)		2 years
Operating Leases, Additional Commitment		$ 72,680

Note 16 - Related Party Trans_4

Note 16 - Related Party Transactions - Summary of Leasing Arrangements (Details) - Not-for-profit Corporation [Member]	12 Months Ended
	Dec. 31, 2020USD ($)ft²
Lease Term Jan 2019 Through December 2020 [Member]
Building size/yield (Square Foot) | ft²	2,284
Annual Rent	$ 19,414
Operating Leases, Future Minimum Payments Receivable, Total	$ 38,828
Lease Term Jan 2019 Through December 2020 1 [Member]
Building size/yield (Square Foot) | ft²	1,817
Annual Rent		[1]
Operating Leases, Future Minimum Payments Receivable, Total		[1]
Lease Term Jan 2019 Through December 2020 2 [Member]
Building size/yield (Square Foot) | ft²	1,905
Annual Rent	$ 16,193
Operating Leases, Future Minimum Payments Receivable, Total	$ 32,385
[1]	In February 2019, the Company amended the square footage under the master lease with the not-for-profit originally entered into in August 2016. 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 lease originally was for 2,130 square feet. The amended maximum annual and total lease commitment of up to $18,170 and $36,340, respectively. Approximately $3,500 in improvements were provided. 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 term ending December 31, 2020 of $18,170 and total commitments including two-year renewal option of up to $72,680.

Note 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual)	Mar. 20, 2021USD ($)	Dec. 07, 2019USD ($)a	Aug. 27, 2019USD ($)a	Jul. 16, 2020USD ($)
Non-revolving Credit Line 3 [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 2,500,000
Non-revolving Credit Line 3 [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000
Debt Instrument, Interest and Principal Phase, Term (Month)	7 years
Cortlandt Manor Property In New York [Member]
Area of Land (Acre) | a		4.5
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 5,720,000
Flowerfield Complex in Smithtown, New York [Member]
Area of Land (Acre) | a			9
Flowerfield Complex in Smithtown, New York [Member] | BSL St. James LLC [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total			$ 16,800,000