Exhibit No. 99.2
Chief Operating Officer’s Presentation
Gyrodyne Company of
America, Inc.
Annual Shareholders Meeting
December 10, 2008
68 Acres of Property in St. James, NY
Three Additional Alternatives should be considered in the review: •The 62.4 acre site is developed with 100% affordable housing units •The site be kept for municipal use a) As open space or, •As an alternative energy field, with solar or wind farm
Limited Partnership Interest in the Grove
Flowerfield
Net Operating Income
2007 20082009* $644,080 $780,954 $1,046,956 *projected
Port Jefferson Medical Park
Net Operating Income
Projected Upon Actual 12 Months Acquisition Ended June 30, 2008 $646,076 $697,384
Cap Rate (based on $8,850,000 purchase price)
Projected Upon Actual 12 Months Acquisition (Going In) Ended June 30, 2008 7.3% 7.9%
Port Jefferson Medical Park
Purchase Price $8,850,000
CashDebt* $3,363,153 $5,551, 191 Cash-on-Cash Return
20.73%** *5.75% Interest Rate, 13/30 ** Does not account for expenses associated with debt service.
Cortlandt Manor Medical Center
Net Operating Income
Projected UponActual 5 Months: 6/1/08 – 10/31/08
Acquisition 7 Months (projected): 11/1/08-5/31/09 $629,127 $703,963
Cap Rate (based on $7,000,000 purchase price)
Projected Upon Actual 5 Months (6/1/08-10/31/08) Acquisition (Going In) 7 Months (projected): 11/1/08-5/31/09 9% 10.06%
Cortlandt Manor Medical Center
Purchase Price: $7,000,000
Cash Debt* $1,764,362 $5,250,000
Cash-on-Cash Return 39.89%** *5.66% interest rate, 10/25 ** Does not account for expenses associated with debt service.