Gyrodyne Co Of America 10-Q 12 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	9-May-14
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'GYRODYNE CO OF AMERICA INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	1,482,680
Amendment Flag	'false	'
Entity Central Index Key	'0000044689	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Rental property:	'	'
Land	$4,621,293	$4,621,293
Building and improvements	32,864,821	32,626,185
Machinery and equipment	344,733	344,733
	37,830,847	37,592,211
Less accumulated depreciation	7,475,739	7,234,846
	30,355,108	30,357,365
Land held for development:	'	'
Land	558,466	558,466
Land development costs	1,862,048	1,823,847
	2,420,514	2,382,313
Total real estate, net	32,775,622	32,739,678
Cash and cash equivalents	8,481,571	13,048,827
Investment in marketable securities	3,301,875	3,380,864
Rent receivable, net of allowance for doubtful accounts of approximately $76,000 and $74,000, respectively	205,547	95,829
Deferred rent receivable	216,123	215,709
Prepaid expenses and other assets	838,236	892,074
Prepaid pension costs	601,338	608,807
Total Assets	46,420,312	50,981,788
LIABILITIES:	'	'
Accounts payable	630,277	1,710,257
Accrued liabilities	392,998	3,246,403
Deferred rent liability	101,225	93,922
Tenant security deposits payable	480,392	474,111
Deferred income taxes	1,315,000	1,315,000
Dividend note payable	16,144,614	16,144,614
Total Liabilities	19,064,506	22,984,307
Commitments and contingencies	'	'
EQUITY:	'	'
Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding	1,723,888	1,723,888
Additional paid-in capital	17,753,505	17,753,505
Accumulated other comprehensive loss	148,772	118,789
Deficit retained earnings	-9,107,399	-9,119,471
	10,518,766	10,476,711
Less cost of shares of common stock held in treasury; 241,208	-1,537,697	-1,537,697
Total Gyrodyne Stockholders’ Equity	8,981,069	8,939,014
Non-controlling interest in GSD, LLC	18,374,737	19,058,467
Total equity	27,355,806	27,997,481
Total Liabilities and Equity	$46,420,312	$50,981,788

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Allowance for doubtful accounts (in Dollars)	$76,000	$74,000
Common stock, par value (in Dollars per share)	$1	$1
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	1,723,888	1,723,888
Common stock, shares outstanding	1,482,680	1,482,680
Less common stock held in treasury, shares	241,208	241,208

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudted) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Rental income	$1,120,645	$1,099,584
Rental income - tenant reimbursements	179,390	189,640
Total	1,300,035	1,289,224
Expenses	'	'
Rental expenses	711,602	662,670
General and administrative expenses	570,750	985,852
Strategic alternative expenses	337,742	341,361
Depreciation	240,893	232,353
Total	1,860,987	2,222,236
Other Income (Expense):	'	'
Interest income	23,832	58,381
Interest expense	-134,538	-5,786
Total	-110,706	52,595
Net Loss before Condemnation Expense and Provision for Income Taxes	-671,658	-880,417
Expense on Condemnation	'	-2,360
Net Loss	-671,658	-882,777
Net Loss from Non-Controlling Interest in GSD, LLC	-683,730	'
Net Income (Loss) Attributable to Gyrodyne	$12,072	($882,777)
Net income (loss) attributable to Gyrodyne per common share:	'	'
Basic and diluted (in Dollars per share)	$0.01	($0.60)
Weighted average number of common shares outstanding:	'	'
Basic and diluted (in Shares)	1,482,680	1,482,680

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudted) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net income (loss) attributable to Gyrodyne	$12,072	($882,777)
Unrealized gain (loss) on investments	29,983	-26,616
Comprehensive income (loss) attributable to Gyrodyne	42,055	-909,393
Comprehensive loss attributable to non-controlling interest	-683,730	'
Comprehensive loss	($641,675)	($909,393)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudted) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net loss	($671,658)	($882,777)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	240,893	273,973
Bad debt expense	2,188	6,000
Net periodic pension benefit cost	7,469	115,652
Rent receivable	-111,906	-107,788
Deferred rent receivable	-414	5,104
Prepaid expenses and other assets	53,838	-40,509
(Decrease) increase in liabilities:	'	'
Accounts payable	-1,079,980	55,601
Accrued liabilities	-2,853,405	-10,005
Deferred rent liability	7,303	37,654
Tenant security deposits	6,281	4,397
Total adjustments	-3,727,733	340,079
Net cash used in operating activities	-4,399,391	-542,698
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of building improvements and equipment	-238,636	-98,479
Land development costs	-38,201	-26,917
Principal repayments of investments in marketable securities	108,972	381,347
Net cash (used in) provided by investing activities	-167,865	255,951
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Principal payments on mortgage loans payable	'	-5,013,415
Net cash used in financing activities	'	-5,013,415
Net decrease in cash and cash equivalents	-4,567,256	-5,300,162
Cash and cash equivalents at beginning of period	13,048,827	94,164,722
Cash and cash equivalents at end of period	8,481,571	88,864,560
Supplemental cash flow information:	'	'
Interest paid	'	26,676
Income and excise taxes paid	$133,000	$70,558

Note_1_The_Company

Note 1 - The Company	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	1.     The Company:
	Gyrodyne Company of America, Inc. ("Gyrodyne" or the "Company") is a self-managed and self-administered real estate investment trust ("REIT") formed under the laws of the State of New York. The Company manages its business as one operating segment. Prior to December 30, 2013, the Company’s primary business was the investment in and the acquisition, ownership and management of a geographically diverse portfolio of medical office, industrial and development of industrial and residential properties located in the Northeast region of the United States. On December 30, 2013, the Company distributed to its shareholders, as the non-cash portion of the special dividend announced on September 12, 2013 (the "Special Dividend"), all of the equity interests of its subsidiary Gyrodyne Special Distribution LLC ("GSD"), which owned 100% of the interests in the Company’s four real estate properties, subject to related mortgage debt in favor of Flowerfield Mortgage Inc., also a subsidiary of the Company, with the Company having the contractual right to manage the business and properties of GSD. Based on management provisions set forth in GSD’s limited liability company agreement which designates sole management authority in the Company, the Company concluded that GSD is a variable interest entity and that GSD’s financial statements should be consolidated with the Company’s. Accordingly, we may use references to "we" or "our" to refer to the Company and GSD and "the Company's properties" or "GSD's properties" (or derivations thereof) interchangeably in this report. In that connection, however, it should be noted that GSD has legal title to the properties and will incur any operating or capital losses resulting from the properties, due to risks as outlined below or otherwise. However, such losses may adversely impact GSD's ability to meet debt service obligations and or repayments of mortgages to Flowerfield Mortgage, Inc. or payment of management fees or result in capital needs at GSD that might require additional capital from Gyrodyne, or external sources.
	Substantially all of GSD’s properties are subject to net leases in which the tenant reimburses GSD for a portion, all of or substantially all of the costs and/ or cost increases for utilities, insurance, repairs and maintenance, and real estate taxes. Certain leases provide that GSD is responsible for certain operating expenses.
	As of March 31, 2014, the Company has an investment in three separate mortgages, due from GSD, of approximately $13,606,000. The mortgages contain a 5% effective interest rate and both principal and interest are eliminated in consolidation. The mortgages contain a first lien on the medical parks related real estate it previously owned. Additionally, the Company has an estimated 9.32% limited partnership interest in Callery Judge Grove, L.P. (the "Grove") a limited partnership, which in 2013 sold its only property, an underdeveloped Florida property, ("Grove Propery"). For further information see footnote 12.
	Following the December 30, 2013 distribution of all of the common membership interests of GSD to the Company’s shareholders in the Special Dividend, the Company has been managing GSD pursuant to the terms of GSD’s limited liability company agreement which provides that the Company has sole and absolute discretion regarding the management and affairs of GSD. In its capacity as GSD’s managing member, the Company has unilateral authority, without seeking GSD shareholder approval, over the management of the real estate assets, including leasing and sale of its real estate holdings and the execution of any agency and brokerage agreements to facilitate such leases and sales, investing in its real estate holdings through capital improvements and proceeding strategically with seeking to maximize the value of the undeveloped Flowerfield property. Under GSD’s limited liability company agreement, the Company is entitled to market-rate compensation for its services as well as reimbursement for any costs and expenses incurred by and properly allocable to GSD. In April 2014, the Company’s board of directors approved a full cost mark-up based management fee to be charged to GSD equal to reimbursement of expenses plus a mark-up of 8.5%, which percentage falls in the lower quartile of similar fees charged by comparable companies according to a benchmarking study. Pursuant to the GSD LLC agreement, the Company is obligated to provide an initial liquidity facility to GSD in an amount not to exceed $2.5 million which the Company may determine from time to time. The interest on the debt facilities to GSD is REIT qualified income. The foregoing income earned by the Company for managing GSD is not deemed to be REIT qualified income and therefore is appropriately payable to its taxable REIT subsidiary, Flowerfield Properties, Inc.
	The Company, through its managing member control in GSD, with no ownership interest, controls two medical office parks and ten of fourteen buildings in a third medical park, together comprising approximately 131,000 rentable square feet and a multitenant industrial park comprising approximately 130,000 rentable square feet. In addition, the Company, through the same managing member control, maintains approximately 68 acres of property in St. James, New York.
	The Company believes it has qualified, and expects to continue to qualify as a REIT under Section 856(c) (1) of the Internal Revenue Code of 1986 as amended (the "Code"). Accordingly, the Company generally will not be subject to federal and state income tax, provided that distributions to its shareholders equal at least 90% of its REIT taxable income as defined under the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualifications as a REIT; However these activities must be conducted in an entity which elected to be treated as a taxable REIT subsidiary ("TRS") under the Code. The Company has one taxable REIT subsidiary which is subject to federal and state income tax on the income from these activities.
	The Company conducts its operations either directly or indirectly through (1) property owned subsidiaries and lender subsidiaries, or (2) Flowerfield Properties, Inc. a wholly owned TRS. Property owner subsidiaries are landlords leasing properties in which the Company has a managing member control but no ownership interest, and lender subsidiaries are lenders loaning funds where the Company made an investment in a loan asset, but in all cases these subsidiaries are separate and distinct legal entities. GSD is a property owner subsidiary in which the Company is the sole managing member with managerial authority and investment/disposition authority. Flowerfield Mortgage Inc. ("FMI") is a lender subsidiary wholly owned by the Company with three loan assets secured by property held in the property owner subsidiaries.
	On October 21, 2013, the Company filed a preliminary proxy statement with the Securities and Exchange Commission ("SEC") which contains, among other matters, the Board’s recommendation that the shareholders vote in favor of a plan of merger. The Company received comments from the SEC on November 18, 2013. On May 8, 2014, the Company responded to such comments and filed a revised preliminary proxy statement with the SEC. Subject to the completion of the SEC review process, the Company currently expects to file definitive proxy materials with the SEC during the second quarter of 2014 and hold a special meeting of shareholders to vote upon the proposed merger in the third quarter of 2014.

Note_2_Basis_of_Quarterly_Pres

Note 2 - Basis of Quarterly Presentations	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Basis of Accounting [Text Block]	'
	2.     Basis of Quarterly Presentations:
	The accompanying quarterly financial statements have been prepared in conformity with accounting principles generally accepted in the United States ("GAAP"). The 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 three-month periods ended March 31, 2014 and 2013.
	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 not misleading.
	This report should be read in conjunction with the audited financial statements and footnotes therein included in the Annual Report on Form 10-K for the year ended December 31, 2013 and with the amendment to the preliminary proxy statement/prospectus filed with the SEC on May 8, 2014.
	The results of operations for the three-month period ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year.

Note_3_Principles_of_Consolida

Note 3 - Principles of Consolidation	3 Months Ended
	Mar. 31, 2014
Principles Of Consolidation [Abstract]	'
Principles Of Consolidation [Text Block]	'
	3.     Principles of Consolidation:
	The accompanying consolidated financial statements include the accounts of Gyrodyne Company of America, Inc. and all majority owned subsidiaries. The Company consolidates its wholly owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). If an investment is determined to be a VIE, the Company performs an analysis to determine if the Company is the primary beneficiary of the VIE. GAAP requires a VIE to be consolidated by its primary beneficiary. The primary beneficiary is the party that has a controlling financial interest in an entity. In order for a party to have a controlling financial interest in an entity, it must have (1) the power to direct the activities of a VIE that most significantly impact the entity's economic performance and (2) the obligation to absorb losses or the right to receive benefits of an entity that could potentially be significant to the VIE.
	The Company's consolidated VIE, GSD, was determined to be a VIE primarily because the Company has the power to direct the activities of the VIE that most significantly impact the entity's economic performance and has the obligation to absorb losses or the right to receive benefits of the entity. The VIE owns all of the real estate that was previously owned by the Company prior to the distribution of ownership interests in GSD. The VIE holds mortgage obligations payable to a wholly owned subsidiary of the Company of $13,606,486 and $13,840,889 as of March 31, 2014 and December 31, 2013, respectively.  As previously discussed in the Company's 2013 Annual Report filed on Form 10-K, the estimated fair value of the real estate net of its mortgage obligations and other direct liabilities was $30,685,000 on December 31, 2013. At March 31, 2014 and December 31, 2013, the net book value of GSD is approximately $18,375,000 and $19,058,000, respectively. The VIE is essentially being managed and operated by the Company where the Company is the primary obligor for liabilities incurred on behalf of the VIE. As a result, the Company could be held liable for current and future obligations of the VIE, and in turn it would be the Company’s obligation to seek reimbursement from the VIE.
	Investments in affiliates in which the Company has the ability to exercise significant influence, but not control, are accounted for under the equity method. The Company did not have any such investments at March 31, 2014. Investment interests in excess of 5% in limited partnerships are accounted for under the equity method. All consolidated subsidiaries are wholly owned. All intercompany balances and transactions have been eliminated. There were no investments accounted for under the equity method as of March 31, 2014.
	Management Services Arrangements
	Under GSD’s Amended and Restated Limited Liability Company Agreement, Gyrodyne, in its capacity as managing member of GSD, is entitled to market-rate compensation for its services as well as reimbursement for any costs and expenses incurred by and properly allocable to GSD. Gyrodyne also is obligated to provide an initial liquidity facility to GSD in an amount not to exceed $2.5 million, which Gyrodyne may determine from time to time.
	Taking into account a number of factors, including a management services benchmarking study commissioned by Gyrodyne, our board intends to implement a management services arrangement under which GSD will pay certain fees to or reimburse Gyrodyne as follows:
	●     GSD will reimburse Gyrodyne for 85% of Gyrodyne's General and Administrative (G&A) Expenses and pay a fee to Gyrodyne equal to 8.5% of such reimbursed amount; plus
	●     GSD will reimburse Gyrodyne for all rental expenses, whether value added (such as contractor and payroll expenses) or non-value added (such as utilities and taxes) paid by Gyrodyne in respect of the Contributed Properties; plus
	●     GSD will pay a fee to Gyrodyne equal to 8.5% of all value added rental expenses paid by Gyrodyne in respect of the Contributed Properties, but no fee will be payable in respect of non-value added rental expenses; plus
	●     GSD will reimburse 100% (without mark-up) of any bonuses (under the Bonus Plan (See "Interests of Our Directors and Executive Officers—Bonus Plan") or otherwise) paid by Gyrodyne to its employees and directors and related payroll taxes on account of any sales of the Contributed Properties; plus
	●     Gyrodyne will be entitled to interest at the rate of 5.0% per annum on any funds advanced by Gyrodyne pursuant to the liquidity facility made available to GSD.
	The foregoing management services arrangements are subject to change pending further analysis and completion of documentation of such arrangements and formal adoption by our board. Upon such adoption of definitive documentation with respect to the management services arrangements, Gyrodyne will file a current report on Form 8-K containing disclosure of the terms of such arrangements as so adopted, which disclosure will identify any modifications of the foregoing.

Note_4_Consolidating_Financial

Note 4 - Consolidating Financial Information	3 Months Ended
	Mar. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	'
	4. Consolidating Financial Information
	Our consolidated assets at March 31, 2014 and December 31, 2013 include total assets of $33,920,904 and $33,730,130, respectively, of a variable interest entity (VIE) that can only be used to settle liabilities of that VIE. These assets include real estate of $32,775,622 and $32,739,678, deferred rent of $216,123 and $215,709, rent receivable of $205,547 and $0, and prepaid and other assets of $723,612 and $774,743, respectively. Our consolidated liabilities at March 31, 2014 and December 31, 2013 include liabilities of a VIE consisting of $480,392 and $474,111, respectively of tenant security deposits, accounts payable of $275,760 and $0, accrued liabilities of $32,341 and $0, and deferred rent liability of $101,225 and $93,922, respectively. The VIE also has mortgages payable to a wholly-owned subsidiary of Gyrodyne of $13,606,486 and $13,840,889, respectively and an outstanding balance in a revolving debt facility of $1,049,963 and $262,741 at March 31, 2014 and December 31, 2013, respectively, that are eliminated in consolidation.
	The tables below are the unaudited consolidating March 31, 2014 Balance Sheet and Statement of Operations of Gyrodyne Company of America, Inc. and Subsidiaries, and GSD.
	ASSETS	Gyrodyne Company of America, Inc. and Subsidiaries			GSD, LLC			Total			Eliminations			Consolidated
	REAL ESTATE
	Rental property:
	Land	$	-		$	4,621,293		$	4,621,293		$	-		$	4,621,293
	Building and improvements		-			32,864,821			32,864,821			-			32,864,821
	Machinery and equipment		-			344,733			344,733			-			344,733
			-			37,830,847			37,830,847			-			37,830,847
	Less accumulated depreciation		-			7,475,739			7,475,739			-			7,475,739
			-			30,355,108			30,355,108			-			30,355,108
	Land held for development:
	Land		-			558,466			558,466			-			558,466
	Land development costs		-			1,862,048			1,862,048			-			1,862,048
			-			2,420,514			2,420,514			-			2,420,514
	Total real estate, net					32,775,622			32,775,622						32,775,622
	Cash and cash equivalents		8,481,571			-			8,481,571			-			8,481,571
	Investment in marketable securities		3,301,875			-			3,301,875			-			3,301,875
	Rent receivable, net of allowance for doubtful accounts of approximately $76,000		-			205,547			205,547			-			205,547
	Deferred rent receivable		-			216,123			216,123			-			216,123
	GSD Line of Credit		1,049,963			-			1,049,963			(1,049,963	)		-
	Prepaid expenses and other assets		114,624			723,612			838,236			-			838,236
	Prepaid pension costs		601,338			-			601,338			-			601,338
	Mortgage receivable		13,606,486			-			13,606,486			(13,606,486	)		-
	Total Assets	$	27,155,857		$	33,920,904		$	61,076,761		$	(14,656,449	)	$	46,420,312
	LIABILITIES AND EQUITY
	LIABILITIES:
	Accounts payable	$	354,517		$	275,760		$	630,277		$	-		$	630,277
	Accrued liabilities		360,657			32,341			392,998			-			392,998
	Deferred rent liability		-			101,225			101,225			-			101,225
	Tenant security deposits payable		-			480,392			480,392			-			480,392
	GSD Line of Credit		-			1,049,963			1,049,963			(1,049,963	)		-
	Mortgage Payable		-			13,606,486			13,606,486			(13,606,486	)		-
	Deferred income taxes		1,315,000			-			1,315,000			-			1,315,000
	Dividend note payable		16,144,614			-			16,144,614			-			16,144,614
	Total Liabilities		18,174,788			15,546,167			33,720,955			(14,656,449	)		19,064,506
	Commitments and contingencies
	EQUITY:
	Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding		1,723,888			-			1,723,888			-			1,723,888
	Additional paid-in capital		17,753,505			-			17,753,505			-			17,753,505
	Accumulated other comprehensive loss		148,772			-			148,772			-			148,772
	Deficit retained earnings		(9,107,399	)		(691,731	)		(9,799,130	)		691,731			(9,107,399	)
			10,518,766			(691,731	)		9,827,035			691,731			10,518,766
	Less cost of shares of common stock held in treasury; 241,208		(1,537,697	)		-			(1,537,697	)		-			(1,537,697	)
	Total Gyrodyne Stockholders’ Equity		8,981,069			(691,731	)		8,289,338			691,731			8,981,069
	Non-controlling interest in GSD, LLC		-			19,066,468			19,066,468			(691,731	)		18,374,737
	Total equity		8,981,069			18,374,737			27,355,806			-			27,355,806
	Total Liabilities and Equity	$	27,155,857		$	33,920,904		$	61,076,761		$	(14,656,449	)	$	46,420,312
		Gyrodyne Company of America, Inc			GSD, LLC			Total			Eliminations			Consolidated
	Revenues
	Rental income	$	-		$	1,120,645		$	1,120,645		$	-		$	1,120,645
	Rental income - tenant reimbursements		-			179,390			179,390			-			179,390
	Other income		1,572,698			-			1,572,698			(1,572,698	)		-
	Total		1,572,698			1,300,035			2,872,733			(1,572,698	)		1,300,035
	Expenses
	Reimbursable expenses		711,602			-			711,602			(711,602	)		-
	Rental expenses		-			734,960			734,960			(23,358	)		711,602
	General and administrative expenses		570,750			526,255			1,097,005			(526,255	)		570,750
	Strategic alternative expenses		337,742			311,483			649,225			(311,483	)		337,742
	Depreciation		-			240,893			240,893						240,893
	Total		1,620,094			1,813,591			3,433,685			(1,572,698	)		1,860,987
	Other Income (Expense):
Interest income		194,006			-			194,006			(170,174	)		23,832
Interest expense		(134,538	)		(170,174	)		(304,712	)		170,174			(134,538	)
Total		59,468			(170,174	)		(110,706	)		-			(110,706	)
Net Income (Loss)	$	12,072		$	(683,730	)	$	(671,658	)	$	-		$	(671,658	)

Note_5_Investment_in_Marketabl

Note 5 - Investment in Marketable Securities	3 Months Ended
	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]	'
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	'
	5.     Investment in Marketable Securities:
	The Company determines the appropriate classification of securities at the time of purchase and reassesses the appropriateness of such classification at each reporting date. All marketable securities held by the Company have been classified as available-for-sale and, as a result, are stated at fair value, based on a pricing model that incorporates coupon type, prepayment speeds and the type of collateral backing the securities. Unrealized gains and losses on available-for-sale securities are recorded as a separate component of stockholders’ equity. Any realized gains and losses on the sale of securities, as determined on a first-in, first-out basis, will be included in the Consolidated Statements of Operations.
	The Company reviews its investments on a regular basis to evaluate whether or not each security has experienced an other-than-temporary decline in fair value. If it is believed that an other-than-temporary decline exists, the Company will write down the investment to market value and record the related write-down in the Consolidated Statements of Operations.
	The historical cost and estimated fair value of investments in marketable securities available for sale as of March 31, 2014 and December 31, 2013 are as follows:
		March 31, 2014			December 31, 2013
	Amortized cost	$	3,337,065		$	3,446,037
	Gross Unrealized Gains (Losses)		(35,190	)		(65,173	)
	Fair Value*		3,301,875		$	3,380,864
	*The Company received $108,972 in principal repayments during the three months ended March 31, 2014
	The Company’s investment is in conforming agency fixed rate mortgage pass through securities ("mortgage-backed securities)", each of which contained either AA or AAA ratings, the principal of which is fully guaranteed by agencies of the U.S. Government. At March 31, 2014 and December 31, 2013, marketable securities based on amortized cost, reflect a yield of approximately 2%, have contractual maturities of 30 years and an adjusted duration of less than four years. The fair value of mortgage-backed securities was estimated based on a Level 2 methodology, additional details of which are discussed further in Note 12 – Fair Value of Financial Instruments. None of the securities with an unrealized loss at March 31, 2014 is considered to be other-than-temporarily impaired; therefore the unrealized loss was reported in the Consolidated Statement of Comprehensive Income (Loss).

Note_6_Earnings_per_Share

Note 6 - Earnings per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	6.     Earnings per Share:
	Basic earnings per common share are computed by dividing net income (loss), attributable to Gyrodyne, by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share give effect to stock options and warrants which are considered to be dilutive common stock equivalents. Treasury shares have been excluded from the weighted average number of shares. The Company does not have any outstanding common stock equivalents as of March 31, 2014, and 2013.
		Three Months Ended March 31,
	BASIC	2014		2013
	Net income (loss) attributable to Gyrodyne	$	12,072	$	(882,777	)
	Weighted average number of common shares outstanding		1,482,680		1,482,680
	Net Income (loss) per common share attributable to Gyrodyne ("EPS")	$	0.01	$	(.60	)

Note_7_Income_Taxes

Note 7 - Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	7.     Income Taxes:
	The Company files a consolidated U.S. Federal Tax Return that includes all 100% owned subsidiaries. State tax returns are filed on a consolidated or separate basis depending on the applicable laws.
	Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.
	Deferred income tax liabilities consist of the following:
		March 31,			December 31,
		2014			2013
	Deferred Tax Liabilities:
	Unrealized gain on investment in Citrus Grove	$	(1,315,000	)	$	(1,315,000	)
	Net Deferred Income Taxes	$	(1,315,000	)	$	(1,315,000	)
	The Company is taxed as a REIT for federal and state income tax purposes under section 856(c)(1) of the Internal Revenue Code (the "Code"). As long as the Company qualifies for taxation as a REIT, it generally will not be subject to federal and state income tax. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal and state income tax on its taxable income at regular corporate rates. Unless entitled to relief under specific statutory provisions, the Company will also be disqualified for taxation as a REIT for the four taxable years following the year in which it loses its qualification. Even if the Company qualifies as a REIT, it may be subject to certain state and local taxes on its income and property and to federal income and excise taxes on its undistributed income.

Note_8_Retirement_Plans

Note 8 - Retirement Plans	3 Months Ended
	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	8.     Retirement Plans:
	On November 25, 2013 the Company's Board voted to terminate the noncontributory defined benefit pension plan (the “Plan”), subject to regulatory approval, and has begun the process. On February 28, 2014, the Company submitted the necessary application and related documents to the IRS and is expecting to submit documentation to the Pension Benefit Guarantee Corporation ("PBGC") in July 2014. Both the PBGC and the IRS must approve the termination. The Company expects to receive the approval from the PBGC and the IRS in the second half of 2014.
	Upon termination of the Plan, non-vested benefits will become fully vested, and the effects of future contribution levels will cease to be an obligation. The Pension plan has an accumulated net unrecognized gain. Any gain (loss) from termination will be added to (netted against) the unrecognized pension gain and recognized in the financial statements.
	The Plan contains two options for employees and beneficiaries to choose from upon termination of the Plan; Annuity or lump sum. The below pension asset reflects an annuity obligation where assets will exceed the obligations.
	The following table provides the components of net periodic pension benefit cost for the Plan for the three months ended March 31, 2014 and 2013 including the required and expected contributions:
	Three Months Ended March 31,
		2014			2013
	Pension Benefits
	Service Cost	$	46,427		$	92,763
	Interest Cost		45,708			62,909
	Expected Return on Plan Assets		(90,310	)		(81,547	)
	Amortization of prior service costs		5,644			5,644
	Amortization of Actuarial Loss		-			35,883
	Net Periodic Pension Benefit Cost	$	7,469		$	115,652
	After Curtailments and Settlements
	Minimum required contribution	$	-		$	-
	Expected contribution	$	-		$	-
	During the three months ended March 31, 2014 and 2013, the Company did not make any contribution to the Plan. The Company does not have a minimum required contribution for the December 31, 2014 plan year. As a result of the termination of the pension plan, the Company may have to make a contribution of approximately $200,000 to satisfy the lump sum payment options and to purchase annuities.

Note_9_Incentive_Compensation_

Note 9 - Incentive Compensation Plan	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	9.     Incentive Compensation Plan:
	The Incentive Compensation Plan (the “ICP”) provides that payments made in connection with an Excess Dividend (defined in the ICP) may not exceed the hypothetical ICP payments that would have been made had there instead been a Change in Control transaction (defined in the ICP) consummated on the dividend payment date. The ICP payments that would have been made had there been a Change in Control transaction consummated on December 30, 2013, the payment date of the $98,685,000 special dividend, are approximately $5,277,800. The ICP payments actually made in respect of the $68,000,000 cash portion of the special dividend totaled $5,044,600. Consequently, remaining ICP payments to be made in connection with the special dividend when and to the extent that GSD holders receive cash in respect of their GSD interests may not exceed $233,200 ($5,277,800 - $5,044,600).
	Employees	Number of Units under Plan		Maximum Benefit relating to the 2013 Non-Cash Dividends
	COO		14,850	$	31,482
	Employees		4,400		9,328
	Directors		53,900		114,268
	Total ICP excluding termed employees and directors		73,150		155,078
	Former CEO		20,350		43,142
	All other former employees		8,250		17,490
	Former director		8,250		17,490
	Total former Board members and former employees		36,850		78,122
	Total maximum ICP to be paid		110,000	$	233,200

Note_10_Commitments_and_Contin

Note 10 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Commitments Disclosure [Text Block]	'
	10.    Commitments and Contingencies:
	Lease revenue commitments - The approximate future minimum revenues from rental property under the terms of all noncancellable tenant leases, assuming no new or renegotiated leases are executed for such premises, are as follows:
	Twelve Months Ending March 31,	Amount
	2015	$	3,902,000
	2016		3,103,000
	2017		2,353,000
	2018		1,843,000
	2019		1,581,000
	Thereafter		3,241,000
		$	16,023,000
	Other commitments and contingencies As of March 31, 2014, other commitments and contingencies are summarized in the below table:
	Incentive Compensation Plan	$	233,200
	Employment agreements with bonus and severance commitment contingencies	$	600,000
	Other employee severance commitment contingencies	$	120,000
	Total	$	953,200
	Employment agreements - The Company has compensation arrangements with its Chief Executive Officer and Chief Financial Officer (collectively, the "Agreements"), each executed during the quarter ended June 30, 2013. Each of the Agreements contains a bonus of $125,000 payable upon a change of control as defined in the agreements. In addition, each agreement provides for severance equivalent to 6 months of base salary and the vesting and related payment of the change of control bonus.
	The Company also has a compensation arrangement with its Chief Operating Officer executed on May 8, 2014 which provides for severance equivalent to 6 months of base salary.
	Under Company policy the aggregate severance commitment contingency to other employees is approximately $120,000.

Note_11_Recent_Accounting_Pron

Note 11 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	11.  Recent Accounting Pronouncements:
	In February 2013, the FASB issued ASU 2013-02, "Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of the net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The pronouncement is effective for fiscal years and interim periods ending after December 15, 2012. The adoption of this pronouncement did not have a material effect on the Company’s consolidated financial position or results of operations.
	In July 2013, the FASB issued ASU 2013-11, "Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists". ASU 2013-11 amends the current guidance to eliminate the diversity in practice in the presentation of unrecognized tax benefits. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The pronouncement is effective prospectively for fiscal years and interim periods beginning after December 15, 2013, and retrospective application is permitted. The adoption of this pronouncement did not have a material effect on the Company’s consolidated financial position or results of operations.
	In April 2013, the FASB issued ASU 2013-07, "Presentation of Financial Statement (Topic 205), Liquidation Basis of Accounting." The amendment requires an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent. Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the plan execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces. Financial statements prepared using the liquidation basis of accounting are required to present relevant information about an entity’s expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation. The entity should include in its presentation of assets any item it had not previously recognized under U.S. GAAP but that it expects to either sell in liquidation or use in settling liabilities. An entity should recognize and measure liabilities in accordance with U.S. GAAP that otherwise applies to those liabilities. The entity is also required to accrue and separately present the costs that it expects to incur and the income that it expects to earn during the expected duration of the liquidation, including any costs associated with sale or settlement of those assets and liabilities. Additionally, the amendment requires disclosures about an entity’s plan for liquidation, the methods and significant assumptions used to measure assets and liabilities, the type and amount of costs and income accrued, and the expected duration of the liquidation process. The pronouncement is effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013 and interim reporting periods therein, early adoption is permitted. The adoption of this pronouncement did not have a material effect on the Company’s consolidated financial position and results of operations.
	In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU 2014-08 on Discontinued Operations changes the criteria for determining which disposals can be presented as discontinued operations and modified related disclosure requirements.  Under the new guidance, a discontinued operation is defined as: (i) a disposal of a component or group of components that is disposed of or is classified as held for sale that represents a strategic shift that has or will have a major effect on an entity’s operations and financial results or (ii) an acquired business or nonprofit activity that is classified as held for sale on the date of acquisition.  The standard states that a strategic shift could include a disposal of (i) a major geographical area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity.  Under the current US GAAP, an entity is prohibited from reporting a discontinued operation if it has certain continuing cash flows or involvement component after the disposal.  The new guidance eliminates these criteria. The adoption of this pronouncement is not expected to have a material effect on the Company’s consolidated financial position or results of operations.

Note_12_Fair_Value_of_Financia

Note 12 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	12.  Fair Value of Financial Instruments:
	Assets and Liabilities Measured at Fair-Value – 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.
	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, we have not elected to measure any additional financial instruments and other items at fair-value (other than those previously required under other GAAP rules or standards) under the provisions of this standard.
	The guidance emphasizes that fair-value is a market-based measurement, not 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 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 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.
	The following table represents the carrying value and fair value of the Company’s financial assets and liabilities as of March 31, 2014 and December 31, 2013, respectively.
		31-Mar-14				31-Dec-13
	Description	Carrying		Fair Value		Carrying		Fair Value
		Value		(Level 2)		Value		(Level 2)
	Investment in Marketable Securities	$	3,301,875	$	3,301,875*	$	3,380,864	$	3,380,864
	*The Company received $108,972 in principal repayments during the first three-months of 2014.
	During 2012, the Company purchased mortgage backed securities with either AA or AAA ratings fully guaranteed by US government agencies (the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation). The fair values of mortgage backed securities originated by US government agencies are based on a pricing model that incorporates coupon type, prepayment speeds and the type of collateral backing the securities. A discount rate is applied to the cashflows in the model to arrive at the fair value. Market quotes, current yields, and their spreads to benchmark indices are obtained for each type of security. With this data, a yield curve is derived for each category of mortgage backed securities. Each security is priced by discounting the cashflow stream by the appropriate yield found on the yield curve. As the significant inputs used to derive the value of the mortgage-backed securities are observable market inputs, the fair value of these securities are included in the Level 2 fair value hierarchy.
	The Company estimates that fair value approximates carrying value for cash equivalents, rents receivable, prepaid and other assets, and accounts payable due to the relatively short maturity of the instruments.
	Fair Value Measurements:
	The Company has maintained an interest in the Grove, which originally represented a 20% limited partnership interest in the Grove. Based on four subsequent capital raises through 2009, each of which the Company chose not to participate in, the Company’s share was diluted to approximately 9.99% as of December 31, 2010, and has since been diluted to 9.32%. On March 18, 2011, the Grove’s lender, Prudential Industrial Properties, LLC ("Prudential"), commenced a foreclosure action against the Grove by filing a complaint in the Circuit Court of Palm Beach County to foreclose upon the Grove property, alleging that the Grove had defaulted on its loan from Prudential and that the Grove was indebted to Prudential in the amount of over $37 million in principal and over $8 million in interest and fees. On September 19, 2013, the Grove was sold, the foreclosure action was dismissed and the Grove’s debt to Prudential was repaid. The investment is held in a taxable REIT subsidiary of the Company with $0 value and the Company has a $1,315,000 deferred tax liability related to the Grove, which represents taxable losses not yet recorded pursuant to the equity method of accounting. Gyrodyne did not receive any distribution in connection with the sale. Under the agreement with the purchaser, Grove may receive certain additional payments if certain development benchmarks are achieved by the purchaser. Gyrodyne cannot predict whether these benchmarks will be achieved or as to the timing or amount of any further distributions by Grove. Gyrodyne does anticipate it will be required to recognize its deferred tax liability during 2014.
	The facts and circumstances of the Grove make it unreasonable to present a fair value utilizing a Level 3 methodology, the lowest methodology which allows for broad assumptions; therefore, in accordance with the exception rules for thinly traded/lack of marketability of distressed assets, the Company is not presenting a fair value. The Company is accounting for the investment under the equity method. As of March 31, 2014, the carrying value of the Company’s investment was $0.

Note_13_Impairment_of_Real_Est

Note 13 - Impairment of Real Estate Investments	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Asset Impairment Charges [Text Block]	'
	13.  Impairment of Real Estate Investments:
	The Company assesses on a regular basis whether there are any indicators that the carrying value of real estate assets may be impaired. Potential indicators may include an increase in vacancy at a property, tenant reduction in utilization of a property, tenant financial instability and the potential sale of the property in the near future. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value.
	There were no impairment charges during the three months ended March 31, 2014, or 2013, respectively.

Note_14_Accumulated_Other_Comp

Note 14 - Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) Note [Text Block]	'
	14.  Accumulated Other Comprehensive Income:
	Accumulated other comprehensive income as of March 31, 2014 and December 31, 2013 was $148,772 and $118,789, respectively. The balances were comprised of the following:
		31-Mar-14			31-Dec-13
	Unrecorded loss on investments	$	(35,190	)	$	(65,173	)
	Unrecorded gain on pension		183,962			183,962
	Accumulated other comprehensive income	$	148,772		$	118,789
	The change in other comprehensive income was restricted to unrealized gain or loss in marketable securities, a balance sheet item, and had no impact on net income. Therefore, there were no reclassifications from other comprehensive income to net income for the periods presented.

Note_15_Reclassifications

Note 15 - Reclassifications	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Reclassifications [Text Block]	'
	15.  Reclassifications:
	Certain amounts in the prior period, including strategic alternative expenses previously included in general and administrative expenses in the condensed consolidated statement of operations have been reclassified to conform to the classification used in the current period.

Note_4_Consolidating_Financial1

Note 4 - Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'
Condensed Balance Sheet [Table Text Block]	'
	ASSETS	Gyrodyne Company of America, Inc. and Subsidiaries			GSD, LLC			Total			Eliminations			Consolidated
	REAL ESTATE
	Rental property:
	Land	$	-		$	4,621,293		$	4,621,293		$	-		$	4,621,293
	Building and improvements		-			32,864,821			32,864,821			-			32,864,821
	Machinery and equipment		-			344,733			344,733			-			344,733
			-			37,830,847			37,830,847			-			37,830,847
	Less accumulated depreciation		-			7,475,739			7,475,739			-			7,475,739
			-			30,355,108			30,355,108			-			30,355,108
	Land held for development:
	Land		-			558,466			558,466			-			558,466
	Land development costs		-			1,862,048			1,862,048			-			1,862,048
			-			2,420,514			2,420,514			-			2,420,514
	Total real estate, net					32,775,622			32,775,622						32,775,622
	Cash and cash equivalents		8,481,571			-			8,481,571			-			8,481,571
	Investment in marketable securities		3,301,875			-			3,301,875			-			3,301,875
	Rent receivable, net of allowance for doubtful accounts of approximately $76,000		-			205,547			205,547			-			205,547
	Deferred rent receivable		-			216,123			216,123			-			216,123
	GSD Line of Credit		1,049,963			-			1,049,963			(1,049,963	)		-
	Prepaid expenses and other assets		114,624			723,612			838,236			-			838,236
	Prepaid pension costs		601,338			-			601,338			-			601,338
	Mortgage receivable		13,606,486			-			13,606,486			(13,606,486	)		-
	Total Assets	$	27,155,857		$	33,920,904		$	61,076,761		$	(14,656,449	)	$	46,420,312
	LIABILITIES AND EQUITY
	LIABILITIES:
	Accounts payable	$	354,517		$	275,760		$	630,277		$	-		$	630,277
	Accrued liabilities		360,657			32,341			392,998			-			392,998
	Deferred rent liability		-			101,225			101,225			-			101,225
	Tenant security deposits payable		-			480,392			480,392			-			480,392
	GSD Line of Credit		-			1,049,963			1,049,963			(1,049,963	)		-
	Mortgage Payable		-			13,606,486			13,606,486			(13,606,486	)		-
	Deferred income taxes		1,315,000			-			1,315,000			-			1,315,000
	Dividend note payable		16,144,614			-			16,144,614			-			16,144,614
	Total Liabilities		18,174,788			15,546,167			33,720,955			(14,656,449	)		19,064,506
	Commitments and contingencies
	EQUITY:
	Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding		1,723,888			-			1,723,888			-			1,723,888
	Additional paid-in capital		17,753,505			-			17,753,505			-			17,753,505
	Accumulated other comprehensive loss		148,772			-			148,772			-			148,772
	Deficit retained earnings		(9,107,399	)		(691,731	)		(9,799,130	)		691,731			(9,107,399	)
			10,518,766			(691,731	)		9,827,035			691,731			10,518,766
	Less cost of shares of common stock held in treasury; 241,208		(1,537,697	)		-			(1,537,697	)		-			(1,537,697	)
	Total Gyrodyne Stockholders’ Equity		8,981,069			(691,731	)		8,289,338			691,731			8,981,069
	Non-controlling interest in GSD, LLC		-			19,066,468			19,066,468			(691,731	)		18,374,737
	Total equity		8,981,069			18,374,737			27,355,806			-			27,355,806
	Total Liabilities and Equity	$	27,155,857		$	33,920,904		$	61,076,761		$	(14,656,449	)	$	46,420,312
Condensed Income Statement [Table Text Block]	'
		Gyrodyne Company of America, Inc			GSD, LLC			Total			Eliminations			Consolidated
	Revenues
	Rental income	$	-		$	1,120,645		$	1,120,645		$	-		$	1,120,645
	Rental income - tenant reimbursements		-			179,390			179,390			-			179,390
	Other income		1,572,698			-			1,572,698			(1,572,698	)		-
	Total		1,572,698			1,300,035			2,872,733			(1,572,698	)		1,300,035
	Expenses
	Reimbursable expenses		711,602			-			711,602			(711,602	)		-
	Rental expenses		-			734,960			734,960			(23,358	)		711,602
	General and administrative expenses		570,750			526,255			1,097,005			(526,255	)		570,750
	Strategic alternative expenses		337,742			311,483			649,225			(311,483	)		337,742
	Depreciation		-			240,893			240,893						240,893
	Total		1,620,094			1,813,591			3,433,685			(1,572,698	)		1,860,987
	Other Income (Expense):
	Interest income		194,006			-			194,006			(170,174	)		23,832
	Interest expense		(134,538	)		(170,174	)		(304,712	)		170,174			(134,538	)
	Total		59,468			(170,174	)		(110,706	)		-			(110,706	)
	Net Income (Loss)	$	12,072		$	(683,730	)	$	(671,658	)	$	-		$	(671,658	)

Note_5_Investment_in_Marketabl1

Note 5 - Investment in Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
		March 31, 2014			December 31, 2013
	Amortized cost	$	3,337,065		$	3,446,037
	Gross Unrealized Gains (Losses)		(35,190	)		(65,173	)
	Fair Value*		3,301,875		$	3,380,864

Note_6_Earnings_per_Share_Tabl

Note 6 - Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended March 31,
	BASIC	2014		2013
	Net income (loss) attributable to Gyrodyne	$	12,072	$	(882,777	)
	Weighted average number of common shares outstanding		1,482,680		1,482,680
	Net Income (loss) per common share attributable to Gyrodyne ("EPS")	$	0.01	$	(.60	)

Note_7_Income_Taxes_Tables

Note 7 - Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
		March 31,			December 31,
		2014			2013
	Deferred Tax Liabilities:
	Unrealized gain on investment in Citrus Grove	$	(1,315,000	)	$	(1,315,000	)
	Net Deferred Income Taxes	$	(1,315,000	)	$	(1,315,000	)

Note_8_Retirement_Plans_Tables

Note 8 - Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Schedule of Net Benefit Costs [Table Text Block]	'
		2014			2013
	Pension Benefits
	Service Cost	$	46,427		$	92,763
	Interest Cost		45,708			62,909
	Expected Return on Plan Assets		(90,310	)		(81,547	)
	Amortization of prior service costs		5,644			5,644
	Amortization of Actuarial Loss		-			35,883
	Net Periodic Pension Benefit Cost	$	7,469		$	115,652
	After Curtailments and Settlements
	Minimum required contribution	$	-		$	-
	Expected contribution	$	-		$	-

Note_9_Incentive_Compensation_1

Note 9 - Incentive Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Other Share-based Compensation, Activity [Table Text Block]	'
	Employees	Number of Units under Plan		Maximum Benefit relating to the 2013 Non-Cash Dividends
	COO		14,850	$	31,482
	Employees		4,400		9,328
	Directors		53,900		114,268
	Total ICP excluding termed employees and directors		73,150		155,078
	Former CEO		20,350		43,142
	All other former employees		8,250		17,490
	Former director		8,250		17,490
	Total former Board members and former employees		36,850		78,122
	Total maximum ICP to be paid		110,000	$	233,200

Note_10_Commitments_and_Contin1

Note 10 - Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	'
	Twelve Months Ending March 31,	Amount
	2015	$	3,902,000
	2016		3,103,000
	2017		2,353,000
	2018		1,843,000
	2019		1,581,000
	Thereafter		3,241,000
		$	16,023,000
Other Commitments [Table Text Block]	'
	Incentive Compensation Plan	$	233,200
	Employment agreements with bonus and severance commitment contingencies	$	600,000
	Other employee severance commitment contingencies	$	120,000
	Total	$	953,200

Note_12_Fair_Value_of_Financia1

Note 12 - Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	'
		31-Mar-14				31-Dec-13
	Description	Carrying		Fair Value		Carrying		Fair Value
		Value		(Level 2)		Value		(Level 2)
	Investment in Marketable Securities	$	3,301,875	$	3,301,875*	$	3,380,864	$	3,380,864

Note_14_Accumulated_Other_Comp1

Note 14 - Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
		31-Mar-14			31-Dec-13
	Unrecorded loss on investments	$	(35,190	)	$	(65,173	)
	Unrecorded gain on pension		183,962			183,962
	Accumulated other comprehensive income	$	148,772		$	118,789

Note_1_The_Company_Details

Note 1 - The Company (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Note 1 - The Company (Details) [Line Items]	'
Number of Operating Segments	1
Percentage of Real Estate Owned	30355108.00%
Number of Mortgage Investments	3
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	9.32%
Controlled by Parent Company [Member] | Medical office park [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Number of Real Estate Properties	2
Number of Units in Real Estate Property	10
Area of Real Estate Property	131,000
Controlled by Parent Company [Member] | Multi-Tenant Industrial Park [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Area of Real Estate Property	130,000
Controlled by Parent Company [Member] | St. James, New York [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Area of Real Estate Property	68
Consolidation, Eliminations [Member] | Gyrodyne Special Distribution LLC [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Mortgage Loans on Real Estate (in Dollars)	13,606,000
Medical office park [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Number of Units in Real Estate Property	14
Gyrodyne Special Distribution LLC [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Percentage of Real Estate Owned	100.00%
Number of Real Estate Properties	4
Investment Interest Rate	5.00%
Gyrodyne Special Distribution LLC [Member] | Maximum [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Variable Interest Entity, Financial or Other Support, Amount (in Dollars)	2,500,000
Variable Interest Entity, Not Primary Beneficiary [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Variable Interest Entity Management Fee Mark Up	8.50%
Variable Interest Entity, Not Primary Beneficiary [Member] | Maximum [Member]	'
Note 1 - The Company (Details) [Line Items]	'
Variable Interest Entity, Financial or Other Support, Amount (in Dollars)	2,500,000

Note_3_Principles_of_Consolida1

Note 3 - Principles of Consolidation (Details) (USD $)

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Gyrodyne Special Distribution LLC [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

General and Administrative Expenses [Member]

Rental Expense [Member]

Employee and Director Bonuses [Member]

Mortgages [Member]

Mortgages [Member]

Maximum [Member]

Estimate of Fair Value Measurement [Member]

General and Administrative Expenses [Member]

Mortgages [Member]

Mortgages [Member]

Maximum [Member]

Note 3 - Principles of Consolidation (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans Payable

'

'

'

'

$13,606,486

$13,840,889

'

'

'

'

'

$13,606,486

$13,840,889

'

'

Real Estate Investment Property, Net

'

'

'

'

'

'

'

'

'

30,685,000

'

'

'

'

'

Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net

'

'

'

'

'

'

18,375,000

19,058,000

'

'

'

'

'

'

'

Limited Partnership Equity Method Threshold

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investments

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable Interest Entity, Financial or Other Support, Amount

'

'

'

'

'

'

'

'

$2,500,000

'

'

'

'

'

$2,500,000

Variable Interest Entity Reimbursemnt Percentage

'

'

8.50%

100.00%

'

'

'

'

'

'

85.00%

'

'

'

'

Variable Interest Entity Management Fee Mark Up

'

8.50%

'

'

'

'

'

'

'

'

'

'

'

8.50%

'

Variable Interest Entity Funds Advanced Interest Rate

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

Note_4_Consolidating_Financial2

Note 4 - Consolidating Financial Information (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Note 4 - Consolidating Financial Information (Details) [Line Items]	'	'
Variable Interest Entity, Consolidated, Carrying Amount, Assets	$33,920,904	$33,730,130
Deferred Rent Receivables, Net	216,123	215,709
Receivables, Net, Current	205,547	95,829
Prepaid Expense and Other Assets	838,236	892,074
Security Deposit Liability	480,392	474,111
Accounts Payable	630,277	1,710,257
Accrued Liabilities	392,998	3,246,403
Deferred Rent Credit	101,225	93,922
Variable Interest Entity, Not Primary Beneficiary [Member] | Mortgages [Member]	'	'
Note 4 - Consolidating Financial Information (Details) [Line Items]	'	'
Loans Payable	13,606,486	13,840,889
Variable Interest Entity, Not Primary Beneficiary [Member]	'	'
Note 4 - Consolidating Financial Information (Details) [Line Items]	'	'
Real Estate Investments, Net	32,775,622	32,739,678
Deferred Rent Receivables, Net	216,123	215,709
Receivables, Net, Current	205,547	0
Prepaid Expense and Other Assets	723,612	774,743
Security Deposit Liability	480,392	474,111
Accounts Payable	275,760	0
Accrued Liabilities	32,341	0
Deferred Rent Credit	101,225	93,922
Line of Credit Facility, Amount Outstanding	$1,049,963	$262,741

Note_4_Consolidating_Financial3

Note 4 - Consolidating Financial Information (Details) - Consolidated Balance Sheet (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Rental property:	'	'	'	'
Land	$4,621,293	$4,621,293	'	'
Building and improvements	32,864,821	32,626,185	'	'
Machinery and equipment	344,733	344,733	'	'
	37,830,847	37,592,211	'	'
Less accumulated depreciation	7,475,739	7,234,846	'	'
	30355108.00%	'	'	'
Land held for development:	'	'	'	'
Land	558,466	558,466	'	'
Land development costs	1,862,048	1,823,847	'	'
	2,420,514	2,382,313	'	'
Total real estate, net	32,775,622	32,739,678	'	'
Cash and cash equivalents	8,481,571	13,048,827	88,864,560	94,164,722
Investment in marketable securities	3,301,875	3,380,864	'	'
Rent receivable, net of allowance for doubtful accounts of approximately $76,000	205,547	95,829	'	'
Deferred rent receivable	216,123	215,709	'	'
Prepaid expenses and other assets	838,236	892,074	'	'
Prepaid pension costs	601,338	608,807	'	'
Total Assets	46,420,312	50,981,788	'	'
LIABILITIES:	'	'	'	'
Accounts payable	630,277	1,710,257	'	'
Accrued liabilities	392,998	3,246,403	'	'
Deferred rent liability	101,225	93,922	'	'
Tenant security deposits payable	480,392	474,111	'	'
Deferred income taxes	1,315,000	1,315,000	'	'
Dividend note payable	16,144,614	16,144,614	'	'
Total Liabilities	19,064,506	22,984,307	'	'
EQUITY:	'	'	'	'
Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding	1,723,888	1,723,888	'	'
Additional paid-in capital	17,753,505	17,753,505	'	'
Accumulated other comprehensive loss	148,772	118,789	'	'
Deficit retained earnings	-9,107,399	-9,119,471	'	'
	10,518,766	10,476,711	'	'
Less cost of shares of common stock held in treasury; 241,208	-1,537,697	-1,537,697	'	'
Total Gyrodyne Stockholdersb Equity	8,981,069	8,939,014	'	'
Non-controlling interest in GSD, LLC	18,374,737	19,058,467	'	'
Total equity	27,355,806	27,997,481	'	'
Total Liabilities and Equity	46,420,312	50,981,788	'	'
Consolidation, Eliminations [Member]	'	'	'	'
Land held for development:	'	'	'	'
GSD Line of Credit	-1,049,963	'	'	'
Mortgage receivable	-13,606,486	'	'	'
Total Assets	-14,656,449	'	'	'
LIABILITIES:	'	'	'	'
GSD Line of Credit	-1,049,963	'	'	'
Mortgage Payable	-13,606,486	'	'	'
Total Liabilities	-14,656,449	'	'	'
EQUITY:	'	'	'	'
Deficit retained earnings	691,731	'	'	'
	691,731	'	'	'
Total Gyrodyne Stockholdersb Equity	691,731	'	'	'
Non-controlling interest in GSD, LLC	-691,731	'	'	'
Total Liabilities and Equity	-14,656,449	'	'	'
Parent Company [Member]	'	'	'	'
Land held for development:	'	'	'	'
Cash and cash equivalents	8,481,571	'	'	'
Investment in marketable securities	3,301,875	'	'	'
GSD Line of Credit	1,049,963	'	'	'
Prepaid expenses and other assets	114,624	'	'	'
Prepaid pension costs	601,338	'	'	'
Mortgage receivable	13,606,486	'	'	'
Total Assets	27,155,857	'	'	'
LIABILITIES:	'	'	'	'
Accounts payable	354,517	'	'	'
Accrued liabilities	360,657	'	'	'
Deferred income taxes	1,315,000	'	'	'
Dividend note payable	16,144,614	'	'	'
Total Liabilities	18,174,788	'	'	'
EQUITY:	'	'	'	'
Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding	1,723,888	'	'	'
Additional paid-in capital	17,753,505	'	'	'
Accumulated other comprehensive loss	148,772	'	'	'
Deficit retained earnings	-9,107,399	'	'	'
	10,518,766	'	'	'
Less cost of shares of common stock held in treasury; 241,208	-1,537,697	'	'	'
Total Gyrodyne Stockholdersb Equity	8,981,069	'	'	'
Total equity	8,981,069	'	'	'
Total Liabilities and Equity	27,155,857	'	'	'
GSD LLC [Member]	'	'	'	'
Rental property:	'	'	'	'
Land	4,621,293	'	'	'
Building and improvements	32,864,821	'	'	'
Machinery and equipment	344,733	'	'	'
	37,830,847	'	'	'
Less accumulated depreciation	7,475,739	'	'	'
	30355108.00%	'	'	'
Land held for development:	'	'	'	'
Land	558,466	'	'	'
Land development costs	1,862,048	'	'	'
	2,420,514	'	'	'
Total real estate, net	32,775,622	'	'	'
Rent receivable, net of allowance for doubtful accounts of approximately $76,000	205,547	'	'	'
Deferred rent receivable	216,123	'	'	'
Prepaid expenses and other assets	723,612	'	'	'
Total Assets	33,920,904	'	'	'
LIABILITIES:	'	'	'	'
Accounts payable	275,760	'	'	'
Accrued liabilities	32,341	'	'	'
Deferred rent liability	101,225	'	'	'
Tenant security deposits payable	480,392	'	'	'
GSD Line of Credit	1,049,963	'	'	'
Mortgage Payable	13,606,486	'	'	'
Total Liabilities	15,546,167	'	'	'
EQUITY:	'	'	'	'
Deficit retained earnings	-691,731	'	'	'
	-691,731	'	'	'
Total Gyrodyne Stockholdersb Equity	-691,731	'	'	'
Non-controlling interest in GSD, LLC	19,066,468	'	'	'
Total equity	18,374,737	'	'	'
Total Liabilities and Equity	33,920,904	'	'	'
Consolidated Entities [Member]	'	'	'	'
Rental property:	'	'	'	'
Land	4,621,293	'	'	'
Building and improvements	32,864,821	'	'	'
Machinery and equipment	344,733	'	'	'
	37,830,847	'	'	'
Less accumulated depreciation	7,475,739	'	'	'
	30355108.00%	'	'	'
Land held for development:	'	'	'	'
Land	558,466	'	'	'
Land development costs	1,862,048	'	'	'
	2,420,514	'	'	'
Total real estate, net	32,775,622	'	'	'
Cash and cash equivalents	8,481,571	'	'	'
Investment in marketable securities	3,301,875	'	'	'
Rent receivable, net of allowance for doubtful accounts of approximately $76,000	205,547	'	'	'
Deferred rent receivable	216,123	'	'	'
GSD Line of Credit	1,049,963	'	'	'
Prepaid expenses and other assets	838,236	'	'	'
Prepaid pension costs	601,338	'	'	'
Mortgage receivable	13,606,486	'	'	'
Total Assets	61,076,761	'	'	'
LIABILITIES:	'	'	'	'
Accounts payable	630,277	'	'	'
Accrued liabilities	392,998	'	'	'
Deferred rent liability	101,225	'	'	'
Tenant security deposits payable	480,392	'	'	'
GSD Line of Credit	1,049,963	'	'	'
Mortgage Payable	13,606,486	'	'	'
Deferred income taxes	1,315,000	'	'	'
Dividend note payable	16,144,614	'	'	'
Total Liabilities	33,720,955	'	'	'
EQUITY:	'	'	'	'
Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding	1,723,888	'	'	'
Additional paid-in capital	17,753,505	'	'	'
Accumulated other comprehensive loss	148,772	'	'	'
Deficit retained earnings	-9,799,130	'	'	'
	9,827,035	'	'	'
Less cost of shares of common stock held in treasury; 241,208	-1,537,697	'	'	'
Total Gyrodyne Stockholdersb Equity	8,289,338	'	'	'
Non-controlling interest in GSD, LLC	19,066,468	'	'	'
Total equity	27,355,806	'	'	'
Total Liabilities and Equity	$61,076,761	'	'	'

Note_4_Consolidating_Financial4

Note 4 - Consolidating Financial Information (Details) - Consolidated Balance Sheet (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Condensed Balance Sheet Statements, Captions [Line Items]	'	'
Allowance for doubtful accounts (in Dollars)	$76,000	$74,000
Common stock, par value (in Dollars per share)	$1	$1
Common stock, authorized	4,000,000	4,000,000
Common stock, shares issued	1,723,888	1,723,888
Common stock, shares outstanding	1,482,680	1,482,680
Common stock held in treasury	241,208	241,208

Note_4_Consolidating_Financial5

Note 4 - Consolidating Financial Information (Details) - Consolidated Statement of Operations (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Rental income	$1,120,645	$1,099,584
Rental income - tenant reimbursements	179,390	189,640
Total	1,300,035	1,289,224
Expenses	'	'
Rental expenses	711,602	662,670
General and administrative expenses	570,750	985,852
Strategic alternative expenses	337,742	341,361
Depreciation	240,893	232,353
Total	1,860,987	2,222,236
Other Income (Expense):	'	'
Interest income	23,832	58,381
Interest expense	-134,538	-5,786
Total	-110,706	52,595
Net Income (Loss)	-671,658	-882,777
Consolidation, Eliminations [Member]	'	'
Revenues	'	'
Other income	-1,572,698	'
Total	-1,572,698	'
Expenses	'	'
Reimbursable expenses	-711,602	'
Rental expenses	-23,358	'
General and administrative expenses	-526,255	'
Strategic alternative expenses	-311,483	'
Total	-1,572,698	'
Other Income (Expense):	'	'
Interest income	-170,174	'
Interest expense	170,174	'
Parent Company [Member]	'	'
Revenues	'	'
Other income	1,572,698	'
Total	1,572,698	'
Expenses	'	'
Reimbursable expenses	711,602	'
General and administrative expenses	570,750	'
Strategic alternative expenses	337,742	'
Total	1,620,094	'
Other Income (Expense):	'	'
Interest income	194,006	'
Interest expense	-134,538	'
Total	59,468	'
Net Income (Loss)	12,072	'
GSD LLC [Member]	'	'
Revenues	'	'
Rental income	1,120,645	'
Rental income - tenant reimbursements	179,390	'
Total	1,300,035	'
Expenses	'	'
Rental expenses	734,960	'
General and administrative expenses	526,255	'
Strategic alternative expenses	311,483	'
Depreciation	240,893	'
Total	1,813,591	'
Other Income (Expense):	'	'
Interest expense	-170,174	'
Total	-170,174	'
Net Income (Loss)	-683,730	'
Consolidated Entities [Member]	'	'
Revenues	'	'
Rental income	1,120,645	'
Rental income - tenant reimbursements	179,390	'
Other income	1,572,698	'
Total	2,872,733	'
Expenses	'	'
Reimbursable expenses	711,602	'
Rental expenses	734,960	'
General and administrative expenses	1,097,005	'
Strategic alternative expenses	649,225	'
Depreciation	240,893	'
Total	3,433,685	'
Other Income (Expense):	'	'
Interest income	194,006	'
Interest expense	-304,712	'
Total	-110,706	'
Net Income (Loss)	($671,658)	'

Note_5_Investment_in_Marketabl2

Note 5 - Investment in Marketable Securities (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'	'
Proceeds from Principal Repayments on Loans and Leases Held-for-investment (in Dollars)	$108,972	'
Marketable Securities Estimated Yield	2.00%	2.00%
Marketable Securities, Contractual Maturities	'30 years	'30 years
Marketable Securities Adjusted Duration	'4 years	'4 years

Note_5_Investment_in_Marketabl3

Note 5 - Investment in Marketable Securities (Details) - Historical Cost and Estimated Fair Value of Available-for-sale Securities (Under Review) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014		Dec. 31, 2013
Historical Cost and Estimated Fair Value of Available-for-sale Securities (Under Review) [Abstract]	'		'
Amortized cost	$3,337,065		$3,446,037
Gross Unrealized Gains (Losses)	-35,190		-65,173
Fair Value*	$3,301,875	[1]	$3,380,864	[1]
[1]	The Company received $108,972 in principal repayments during the three months ended March 31, 2014

Note_6_Earnings_per_Share_Deta

Note 6 - Earnings per Share (Details)	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Common Stock Equivalents Outstanding	0	0

Note_6_Earnings_per_Share_Deta1

Note 6 - Earnings per Share (Details) - Summary of Net Income (Loss) Earnings Per Share (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Summary of Net Income (Loss) Earnings Per Share [Abstract]	'	'
Net income (loss) attributable to Gyrodyne	$12,072	($882,777)
Weighted average number of common shares outstanding	1,482,680	1,482,680
Net Income (loss) per common share attributable to Gyrodyne ("EPS")	$0.01	($0.60)

Note_7_Income_Taxes_Details

Note 7 - Income Taxes (Details)	12 Months Ended
	Dec. 31, 2012
Income Tax Disclosure [Abstract]	'
Excise Tax Percentage	100.00%

Note_7_Income_Taxes_Details_De

Note 7 - Income Taxes (Details) - Deferred Tax Liabilites (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Deferred Tax Liabilites [Abstract]	'	'
Unrealized gain on investment in Citrus Grove	($1,315,000)	($1,315,000)
Net Deferred Income Taxes	($1,315,000)	($1,315,000)

Note_8_Retirement_Plans_Detail

Note 8 - Retirement Plans (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Compensation and Retirement Disclosure [Abstract]	'	'
Defined Benefit Plan, Contributions by Employer	$0	$0
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year	0	'
Defined Benefit Plan Obligation, Underfunded	$200,000	'

Note_8_Retirement_Plans_Detail1

Note 8 - Retirement Plans (Details) - Components of Net Periodic Benefit Cost (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Note 8 - Retirement Plans (Details) - Components of Net Periodic Benefit Cost [Line Items]	'	'
Service Cost	$46,427	$92,763
Interest Cost	45,708	62,909
Expected Return on Plan Assets	-90,310	-81,547
Amortization of prior service costs	5,644	5,644
Amortization of Actuarial Loss	'	35,883
Net Periodic Pension Benefit Cost After Curtailments and Settlements	$7,469	$115,652

Note_9_Incentive_Compensation_2

Note 9 - Incentive Compensation Plan (Details) (Incentive Compensation Plan [Member], USD $)	0 Months Ended
	Dec. 30, 2013	Mar. 31, 2014
	Special Dividend [Member]
Note 9 - Incentive Compensation Plan (Details) [Line Items]	'	'
Dividends	$98,685,000	'
Incentive Compensation Plan Payments	5,277,800	'
Dividends, Cash	68,000,000	'
Incentive Compensation Plan Payments Cash	5,044,600	'
Remaining Liability Under Incentive Plan, Aggregative Maximum	'	$233,200

Note_9_Incentive_Compensation_3

Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees (USD $)	Mar. 31, 2014
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	110,000
Non-Cash Dividends [Member] | Chief Operating Officer [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	31,482
Non-Cash Dividends [Member] | Current Employees [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	9,328
Non-Cash Dividends [Member] | Director [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	114,268
Non-Cash Dividends [Member] | Current COO, Employees and Directors [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	155,078
Non-Cash Dividends [Member] | Former Chief Executive Officer [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	43,142
Non-Cash Dividends [Member] | Other Former Employees [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	17,490
Non-Cash Dividends [Member] | Former Director [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	17,490
Non-Cash Dividends [Member] | Former Board Members and Employees [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	78,122
Non-Cash Dividends [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Maximum Benefit	233,200
Chief Operating Officer [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	14,850
Current Employees [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	4,400
Director [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	53,900
Current COO, Employees and Directors [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	73,150
Former Chief Executive Officer [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	20,350
Other Former Employees [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	8,250
Former Director [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	8,250
Former Board Members and Employees [Member]	'
Note 9 - Incentive Compensation Plan (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]	'
Benefit Payble Number of Shares under Plan	36,850

Note_10_Commitments_and_Contin2

Note 10 - Commitments and Contingencies (Details) (USD $)	Mar. 31, 2014
Note 10 - Commitments and Contingencies (Details) [Line Items]	'
Supplemental Unemployment Benefits, Severance Benefits	$120,000
CEO and President Each [Member]	'
Note 10 - Commitments and Contingencies (Details) [Line Items]	'
Accrued Bonuses	$125,000

Note_10_Commitments_and_Contin3

Note 10 - Commitments and Contingencies (Details) - Lease Revenue Commitments (USD $)	Mar. 31, 2014
Lease Revenue Commitments [Abstract]	'
2015	$3,902,000
2016	3,103,000
2017	2,353,000
2018	1,843,000
2019	1,581,000
Thereafter	3,241,000
	$16,023,000

Note_10_Commitments_and_Contin4

Note 10 - Commitments and Contingencies (Details) - Other Commitments and Contingencies (USD $)	Mar. 31, 2014
Other Commitments [Line Items]	'
Contracts and Commitments	$953,200
Employment Agreement With Severance Contingencies [Member]	'
Other Commitments [Line Items]	'
Contracts and Commitments	600,000
Other Employee Severance Commitment Contingencies [Member]	'
Other Commitments [Line Items]	'
Contracts and Commitments	120,000
Incentive Compensation Plan [Member]	'
Other Commitments [Line Items]	'
Contracts and Commitments	$233,200

Note_12_Fair_Value_of_Financia2

Note 12 - Fair Value of Financial Instruments (Details) (USD $)	3 Months Ended	1 Months Ended	12 Months Ended
	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2011
		The Grove [Member]	The Grove [Member]	The Grove [Member]	The Grove [Member]
Note 12 - Fair Value of Financial Instruments (Details) [Line Items]	'	'	'	'	'
Proceeds from Principal Repayments on Loans and Leases Held-for-investment	$108,972	'	'	'	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	9.32%	9.32%	9.99%	20.00%	'
Grove Property Loan Principal	'	37,000,000	'	'	'
Grove Property Loan Interest and Fees	'	8,000,000	'	'	'
Deferred Tax Liabilities, Other	'	1,315,000	'	'	'
Equity Method Investments	$0	'	'	'	$0

Note_12_Fair_Value_of_Financia3

Note 12 - Fair Value of Financial Instruments (Details) - Carrying Value and Fair Value of Financial Assets and Liabilities (USD $)	Mar. 31, 2014		Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Investment in Marketable Securities	$3,301,875		$3,380,864
Investment in Marketable Securities	3,301,875	[1]	3,380,864	[1]
Fair Value, Inputs, Level 2 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Investment in Marketable Securities	$3,301,875	[2]	$3,380,864
[1]	The Company received $108,972 in principal repayments during the three months ended March 31, 2014
[2]	The Company received $108,972 in principal repayments during the first three-months of 2014.

Note_13_Impairment_of_Real_Est1

Note 13 - Impairment of Real Estate Investments (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Disclosure Text Block Supplement [Abstract]	'	'
Asset Impairment Charges	$0	$0

Note_14_Accumulated_Other_Comp2

Note 14 - Accumulated Other Comprehensive Income (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Disclosure Text Block [Abstract]	'	'
Accumulated Other Comprehensive Income (Loss), Net of Tax	$148,772	$118,789

Note_14_Accumulated_Other_Comp3

Note 14 - Accumulated Other Comprehensive Income (Details) - Accumulated Other Comprehensive Income (USD $)	Mar. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income [Abstract]	'	'
Unrecorded loss on investments	($35,190)	($65,173)
Unrecorded gain on pension	183,962	183,962
Accumulated other comprehensive income	$148,772	$118,789