Gyrodyne Co Of America 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	15-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	GYRODYNE CO OF AMERICA INC
Document Type	10-Q
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		1,482,680
Amendment Flag	FALSE
Entity Central Index Key	44689
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Rental property:
Land	$4,569,693		$4,569,693
Building and improvements	33,509,186		33,405,129
Machinery and equipment	344,733		344,733
	38,423,612		38,319,555
Less accumulated depreciation	8,455,022		8,204,417
	29,968,590		30,115,138
Land held for development:
Land	558,466		558,466
Land development costs	1,991,095		1,961,345
	2,549,561		2,519,811
Total real estate, net	32,518,151		32,634,949
Cash and cash equivalents	3,375,662		4,028,337
Investment in marketable securities	5,778,686	[1]	5,950,098
Rent receivable, net of allowance for doubtful accounts of approximately $86,000 and $89,000, respectively	64,053		7,452
Deferred rent receivable	375,485		334,914
Prepaid expenses and other assets	1,185,588		920,614
Total Assets	43,297,625		43,876,364
LIABILITIES:
Accounts payable	604,075		793,262
Accrued liabilities	542,806		220,573
Deferred rent liability	257,968		94,737
Tenant security deposits payable	459,261		474,425
Income taxes payable	772,100		750,000
Pension costs	394,008		552,546
Notes payable	17,533,210		17,533,210
Total Liabilities	20,563,428		20,418,753
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	-592,579		-633,682
Deficit	-9,716,876		-9,653,951
	9,167,938		9,189,760
Less cost of shares of common stock held in treasury; 241,208	-1,537,697		-1,537,697
Total Gyrodyne Stockholders’ Equity	7,630,241		7,652,063
Non-controlling interest in GSD, LLC	15,103,956		15,805,548
Total equity	22,734,197		23,457,611
Total Liabilities and Equity	$43,297,625		$43,876,364
[1]	The Company received $212,515 in principal repayments during the first three-months of 2015.

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts (in Dollars)	$86,000	$89,000
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 (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues
Rental income	$1,110,481	$1,120,645
Rental income - tenant reimbursements	148,270	179,390
Total	1,258,751	1,300,035
Expenses
Rental expenses	718,548	711,602
General and administrative expenses	643,509	570,750
Strategic alternative expenses	199,875	337,742
Depreciation	250,605	240,893
Total	1,812,537	1,860,987
Other Income (Expense):
Interest income	30,534	23,832
Interest expense	-219,165	-134,538
Total	-188,631	-110,706
Net Loss before Provision for Income Taxes	-742,417	-671,658
Provision for Income Taxes	22,100
Net loss	-764,517	-671,658
Net Loss from Non-Controlling Interest in GSD, LLC	-701,592	-683,730
Net (loss) income Attributable to Gyrodyne	($62,925)	$12,072
Net (loss) income attributable to Gyrodyne per common share:
Basic and diluted (in Dollars per share)	($0.04)	$0.01
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 (Loss) Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net (loss) income attributable to Gyrodyne	($62,925)	$12,072
Unrealized gain on investments	41,103	29,983
Comprehensive (loss) income attributable to Gyrodyne	-21,822	42,055
Comprehensive loss attributable to non-controlling interest	-701,592	-683,730
Comprehensive loss	($723,414)	($641,675)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($764,517)	($671,658)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	250,605	240,893
Bad debt expense		2,188
Net periodic pension cost	24,962	7,469
Rent receivable	-56,601	-111,906
Deferred rent receivable	-40,571	-414
Prepaid expenses and other assets	-264,974	53,838
(Decrease) increase in liabilities:
Accounts payable	-189,187	-1,079,980
Accrued liabilities	322,233	-2,853,405
Income taxes payable	22,100
Deferred rent liability	163,231	7,303
Tenant security deposits payable	-15,164	6,281
Pension cost liability	-183,500
Total adjustments	33,134	-3,727,733
Net cash used in operating activities	-731,383	-4,399,391
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of building improvements and equipment	-104,057	-238,636
Land development costs	-29,750	-38,201
Principal repayments of investments in marketable securities	212,515	108,972
Net cash provided by (used in) investing activities	78,708	-167,865
Net decrease in cash and cash equivalents	-652,675	-4,567,256
Cash and cash equivalents at beginning of period	4,028,337	13,048,827
Cash and cash equivalents at end of period	3,375,662	8,481,571
Supplemental cash flow information:
Income and excise taxes paid		133,000
Dividend Note Issued [Member]
Noncash Investing and Financing Activities:
Dividend Note Issued		$16,144,614

Note_1_The_Company

Note 1 - The Company:	3 Months Ended
	Mar. 31, 2015
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 (through GSD’s subsidiaries) in the Company’s four real estate properties, subject to related mortgage debt in favor of Flowerfield Mortgage Inc. (“FMI”), also a subsidiary of the Company, with the Company Flowerfield Properties, Inc. (“FPI”), 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, TRS, FPI and GSD, and "the Company's properties" or "GSD's properties", or “TRS’s properties, or FPI’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 FMI or payment of management fees or result in capital needs at GSD that might require additional capital from the Company, 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, 2015, the Company had an investment in three separate mortgages due from GSD aggregating $12,645,754 and a receivable under a revolving line of credit of $4,952,914. The mortgages and revolving line of credit contain a 5% effective rate and both principal and interest are eliminated in consolidation. The mortgages contain a first lien on the medical parks related real estate owned by GSD. Additionally, the Company, through FPI owns a 10.12% limited partnership interest in Callery Judge Grove, L.P. (the “Grove”), a limited partnership, which in 2013 sold its only property, an undeveloped Florida property (the “Grove Property”). For further information see Footnote 18.
	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 through FPI has been managing GSD, initially pursuant to the terms of GSD’s limited liability company agreement (the “GSD Agreement”) which names the Company as the managing member. The GSD Agreement provides that the managing member 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 while 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 cost-plus based management fee to be charged by the Company through FPI to GSD (see footnote 4 for additional detail on the methodology of the cost plus mark-up), which percentage falls in the lower quartile of similar fees charged by comparable companies according to a benchmarking study. Pursuant to the GSD Agreement, the Company was obligated to provide an initial liquidity facility to GSD in an amount not to exceed $2.5 million, which amount the Company may determine from time to time. The board of directors has since authorized an increase in the revolving line of credit to $5.5 million. The interest on the debt facilities payable by GSD to the Company 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 managed by and payable to its taxable REIT subsidiary, FPI.
	The Company, through its managing member control of GSD (albeit 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 owning 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. The Company is the sole managing member of GSD with managerial authority and investment/disposition authority. FMI is a lender subsidiary wholly owned by the Company with three loan assets secured by property held in the property owner subsidiaries.

Note_2_Strategic_Process

Note 2 - Strategic Process:	3 Months Ended
	Mar. 31, 2015
Strategic Process Disclosure [Abstract]
Strategic Process Disclosure [Text Block]	2.     Strategic Process:
	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 of director’s recommendation that the shareholders vote in favor of a plan of merger in which the Company and GSD would merge with and into Gyrodyne, LLC. The Company received comments from the SEC on November 18, 2013. Consequently, the Company proceeded with holding its 2013 annual meeting without seeking authorization for the merger transaction at that time because of NASDAQ rules requiring listed companies to hold an annual meeting not later than twelve months following the fiscal year end. On May 8, 2014, the Company responded to such comments and filed a revised preliminary proxy statement with the SEC. The Company received comments from the SEC on May 29, 2014 and responded to such comments and filed a revised proxy statement (Amendment No. 2) with the SEC on June 17, 2014. The Company received comments from the SEC on June 24, 2014 and responded to such comments and filed a revised proxy statement (Amendment No. 3) with the SEC on June 26, 2014. The Company received comments from the SEC on June 26, 2014 and responded to such comments and filed a definitive proxy statement (Amendment No. 4) with the SEC on July 1, 2014. On June 5, 2014, the Company announced that a special meeting of shareholders of Gyrodyne Company of America, Inc., would be held at Flowerfield Celebrations, Mills Pond Road, Saint James, New York 11780 on August 14, 2014, at 11:00 a.m., Eastern Time. At the special meeting, the Company was asking the shareholders of record on June 30, 2014 to authorize a plan of merger and the transactions contemplated thereby, including the merger of the Company and GSD with and into Gyrodyne, LLC, a subsidiary of the Company. Shareholders of record at the close of business on June 30, 2014, were entitled to vote at the special meeting or its adjournment or postponement, if any, provided such meeting takes place by August 30, 2014. On August 25, 2014, the Company announced the postponement of the special meeting. The Company rescheduled the special meeting to December 5, 2014 to allow additional time for shareholders to vote on the proposed merger and changed the shareholder record date to October 31, 2014. The Company has been advised by its proxy solicitor, MacKenzie Partners, that with approximately 45% of the outstanding shares voted by delivery of proxy cards, approximately 97% of such shares have been voted in favor of the merger.  Despite the overwhelming percentage of received votes in favor of the merger not enough shares were voted to reach the two-thirds of the outstanding share majority needed under New York law.  Accordingly, on November 4, 2014, the Company announced a further postponement of the special meeting until the second or third quarter of 2015. Given the small size of holdings of many Gyrodyne shareholders and the nature of various holders, the Company believes many holders may not have paid enough attention to the merger to exercise their right to vote. The Company and its advisors will continue to analyze potential options in the best interests of the Company and its shareholders, which may include enhancements designed to facilitate the ability to complete the merger transaction. As further discussed below, on March 6, 2015, the Company filed a registration statement on Form S-1 with the SEC for a rights offering to Gyrodyne’s existing shareholders. On April 10, 2015 and May 15, 2015, the Company filed amendments to the registration statement to replace the financial statements and related financial information in the original filing with updated financial statements as of and for the year ended December 31, 2014 and as of and for the quarter ended March 31, 2015, respectively and other updated financial information related thereto. Gyrodyne is proposing the rights offering to facilitate the vote of two-thirds of the outstanding shares needed under New York law to approve the previously-announced proposed merger, as well as raise equity capital in a timely and cost-effective manner while providing all of Gyrodyne’s shareholders the opportunity to participate.
	Rights Offering. On March 6, 2015, the Company filed a registration statement on Form S-1 with the SEC for a rights offering to Gyrodyne’s existing shareholders. On April 10, 2015 and May 15, 2015, the Company filed amendments to the registration statement to replace the financial statements and related financial information in the original filing of the Registration Statement with updated financial statements as of and for the year ended December 31, 2014 and as of and for the quarter ended March 31, 2015, respectively, and other updated financial information related thereto. Our board of directors believes that the rights offering will facilitate the vote of two-thirds of the outstanding shares needed under New York law to approve the proposed merger. Given the small size of holdings of many Gyrodyne shareholders and the nature of various holders, we believe many holders may not have paid enough attention to the Merger to exercise their right to vote. The board of directors believes, however, that shareholders who exercise their subscription rights in the rights offering are more likely to vote their shares on the Merger proposal.
	The Company is also conducting the rights offering because it provides our shareholders the opportunity to participate in an offering of our shares on a pro rata basis without diluting their ownership interest in our Company. The proceeds of the rights offering will provide Gyrodyne with additional liquidity as we pursue an orderly liquidation of the properties currently owned by GSD and managed by Gyrodyne.
	Gyrodyne plans to make the rights offering through the distribution of non-transferable subscription rights to purchase shares of Gyrodyne’s common stock at $2.75 per share subject to certain aggregate ownership limitations. Shareholders will receive three subscription rights for each two shares of common stock held of record on May 6, 2015, with each subscription right giving a shareholder the right to purchase one share of common stock. The proposed rights offering will also include an over-subscription privilege, which will entitle each rights holder that exercises its basic subscription privilege in full, the right to purchase additional shares of common stock that remain unsubscribed at the expiration of the rights offering, subject to the availability and pro rata allocation of shares among persons exercising this over-subscription right. Assuming it is fully subscribed, Gyrodyne currently expects to receive gross proceeds of $6,116,055 from the rights offering. Gyrodyne intends to conduct the special meeting to authorize the merger as soon as reasonably possible after the consummation of the rights offering.
	This report shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
	In addition, this report is not to be considered material to solicit proxies related to the special meeting or deemed an offer to sell the Gyrodyne, LLC equity interests (“Gyrodyne, LLC Shares”), which solicitation and offer will only be made through a definitive proxy statement/prospectus relating to the Merger and the issuance of the Gyrodyne, LLC Shares. Gyrodyne filed definitive proxy materials with the SEC on July 1, 2014 with respect to the plan of merger. If our board of directors determines to try again to hold the special meeting to authorize the plan of merger, which is our current intention, Gyrodyne will solicit proxies through such definitive proxy statement or, if necessary, a post-effective amendment thereto.
	On April 27, 2015, the Company announced that it has set May 6, 2015 as the record date for its previously announced rights offering, and that the subscription price for the rights offering will be $2.75 per share. In the rights offering, Gyrodyne intends to distribute, at no charge, to shareholders as of the record date non-transferable subscription rights to purchase, on a three-for-two basis, up to an aggregate of 2,224,020 shares of Gyrodyne common stock.
	Merger Allocation Adjustments. The Plan of Merger originally provided for an allocation of Gyrodyne LLC Shares to be issued in the Merger of 15.2% to Gyrodyne shareholders, 29.2% to the holders of the Dividend Notes and 55.6% to the holders of common shares of GSD (collectively, the “Initial Allocations”). The Plan of Merger as revised by the December 2013 amendment provides that each of the Initial Allocations set forth therein of Gyrodyne LLC Shares to be issued in the Merger in exchange for Gyrodyne common shares, GSD Interests and interests in the Dividend Note are subject to adjustment in the discretion of the Gyrodyne board of directors. The Plan of Merger provides that any changes made to the Initial Allocations will be announced at least ten days prior to the meeting of shareholders at which shareholders of Gyrodyne will be asked to consider and vote upon the Plan of Merger.
	At a board of directors meeting held on April 24, 2015, our directors determined to adjust the allocation of common shares of Gyrodyne, LLC to be issued pursuant to the Merger to account for certain developments since such allocations were originally set in December 2013. Assuming the full exercise of the subscription rights in the rights offering, the common shares of Gyrodyne, LLC to be issued in the Merger will be allocated as follows:
		●	Approximately 22.6% in the aggregate to Gyrodyne shareholders;
		●	Approximately 30.0% in the aggregate to holders of interests in dividend notes issued by Gyrodyne in the aggregate principal amount of $17,533,000 (the “Dividend Notes”); and
		●	Approximately 47.4% in the aggregate to holders of common shares of GSD.
	Gyrodyne’s board of directors determined the foregoing allocation adjustments based on the increase in the adjusted net book value of Gyrodyne shares due to the rights offering and the anticipated net proceeds to Gyrodyne of $5,606,000 from the rights offering, assuming all 2,224,020 shares are sold. In addition, the allocation reflects adjusted net book value, face value and “fair value” (based on appraised values of underlying properties owned by GSD, less liabilities) of Gyrodyne, the Dividend Notes and GSD, respectively, in each case as of December 31, 2014. This methodology is consistent with the valuation metrics used to determine the original allocations in December, 2013.
	The board of directors retains the discretion to change the allocations up to ten days prior to the special shareholder meeting for the vote of the merger. The board of directors anticipates the special shareholder meeting will take place in the third quarter of 2015.

Note_3_Significant_accounting_

Note 3 - Significant accounting policies:	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	3.     Significant accounting policies:
	The below disclosures are an excerpt and part of the significant accounting policies disclosed on Form 10-K for the year ended December 31, 2014, all of which remain applicable to the Company.
	Revenue recognition – Base rents from rental properties are recognized on a straight-line basis over the terms of the related leases. The excess of rents recognized over amounts contractually due, if any, are included in deferred rents receivable on the Company's balance sheets. Alternatively, rents received in advance of rents recognized, if any, are included in deferred rent liability on the Company’s balance sheet. Certain leases also provide for tenant reimbursements of common area maintenance, other operating expenses and real estate taxes all of which are reported in tenant reimbursements on the consolidated statements of operations. Ancillary and other property related income is recognized in the period earned.
	Gains on sales of real estate - Gains on sales of real estate are recognized based upon the specific timing of the sale as measured against various criteria related to the terms of the transactions and any continuing involvement associated with the properties. If the sales criteria are not met, the gain is deferred and the finance, installment or cost recovery method, as appropriate, is applied until the sales criteria are met. To the extent the GSD sells a property and retains a partial ownership interest in the property, the Company recognizes gain to the extent of the third-party ownership interest.
	Assets Held For Sale and Discontinued Operations- Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the Consolidated Balance Sheets as “Assets held for Sale”, with assets and liabilities being separately stated. The operating results of these properties are reflected as discontinued operations in the Consolidated Statements of Operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties.

Note_4_Basis_of_Quarterly_Pres

Note 4 - Basis of Quarterly Presentations:	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Basis of Accounting [Text Block]	4.     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, 2015 and 2014.
	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, 2014 and with the definitive proxy statement/prospectus filed with the SEC on July 1, 2014, and the S-1/A filed with the SEC on May 15, 2015.
	The results of operations for the three-month period ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year.

Note_5_Principles_of_Consolida

Note 5 - Principles of Consolidation:	3 Months Ended
	Mar. 31, 2015
Principles Of Consolidation [Abstract]
Principles Of Consolidation [Text Block]	5.     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 activities of GSD 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. GSD owns all of the real estate that was previously owned by the Company prior to the distribution of ownership interests in GSD to the Company’s shareholders on December 30, 2013. GSD owes mortgage obligations payable to a wholly owned subsidiary of the Company of $12,645,754 and $12,889,463 as of March 31, 2015 and December 31, 2014, 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 30, 2013. At March 31, 2015 and December 31, 2014, the net book value of GSD was $15,103,956 and $15,805,548, respectively. GSD is essentially being managed and operated by the Company, through FPI, where the Company is the primary obligor for liabilities incurred on behalf of GSD. As a result, the Company could be held liable for current and future obligations of GSD, and in turn it would be the Company’s obligation to seek reimbursement from GSD.
	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, 2015. 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, 2015.
	Management Services Arrangements
	All references to Gyrodyne or the Company within the Management Services Arrangement and referenced below, refer to Flowerfield Properties, Inc (“FPI”).
	Under GSD’s Amended and Restated Limited Liability Company Agreement, Gyrodyne through FPI, in Gyrodyne’s 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. Through March 31, 2015, the board of directors has authorized increases in the revolving line of credit to $5.5 million.
	Taking into account a number of factors, including a management services benchmarking study commissioned by Gyrodyne, Gyrodyne Company of America, Inc., the Company entered into a Management Services Agreement (the “Agreement”) between the Company, and GSD, on December 24, 2014 pursuant to which the Company agreed to continue providing certain management services to GSD. The management services include acquisition and disposition services, asset management services, accounting and other administrative services, property management services and shareholder services.
	Pursuant to the Agreement, in consideration for these services:
	●     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 Retention Bonus Plan (See "Interests of Our Directors and Executive Officers—Retention 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.
	Management fees, excluding reimbursement of costs, paid to FPI for the three month period ending March 31, 2015 and 2014, respectively were $82,982 and $88,878 respectively. In addition, interest expense paid or payable by GSD to the Company on the outstanding mortgage and revolving line of credit for the three-month period ending March 31, 2015 and 2014 were $218,004 and $170,174, respectively.

Note_6_Consolidating_Financial

Note 6 - Consolidating Financial Information	3 Months Ended
	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	6.     Consolidating Financial Information
	Our consolidated assets at March 31, 2015 and December 31, 2014 include total assets of $33,629,465 and $33,763,279, respectively, of a variable interest entity (VIE) that can only be used to settle liabilities of that VIE. These assets include real estate of $32,518,151 and $32,634,949, deferred rent of $375,485 and $334,914, rent receivable of $64,053 and $7,452, and prepaid and other assets of $671,776 and $785,964, respectively. Our consolidated liabilities at March 31, 2015 and December 31, 2014, include liabilities of a VIE consisting of $459,261 and $474,425, respectively of tenant security deposits, accounts payable of $177,234 and $218,163, respectively, accrued liabilities of $32,378 and $0, respectively, and deferred rent liability of $257,968 and $94,737, respectively. The VIE also has mortgages payable to a wholly-owned subsidiary of Gyrodyne of $12,645,754 and $12,889,463, respectively and an outstanding balance in a revolving debt facility of $4,952,914 and $4,280,943 at March 31, 2015 and December 31, 2014, respectively, that are eliminated in consolidation.
	The tables below are the unaudited consolidating March 31, 2015 Balance Sheet and Statement of Operations reflecting the operations of Gyrodyne Company of America, Inc. and subsidiaries and GSD.
		Gyrodyne Company of America, Inc. and Subsidiaries			GSD, LLC			Total			Eliminations			Consolidated
	ASSETS
	REAL ESTATE
	Rental property:
	Land	$	-		$	4,569,693		$	4,569,693		$	-		$	4,569,693
	Building and improvements		-			33,509,186			33,509,186			-			33,509,186
	Machinery and equipment		-			344,733			344,733			-			344,733
			-			38,423,612			38,423,612			-			38,423,612
	Less accumulated depreciation		-			8,455,022			8,455,022			-			8,455,022
			-			29,968,590			29,968,590			-			29,968,590
	Land held for development:
	Land		-			558,466			558,466			-			558,466
	Land development costs		-			1,991,095			1,991,095			-			1,991,095
			-			2,549,561			2,549,561			-			2,549,561
	Total real estate, net		-			32,518,151			32,518,151			-			32,518,151
	Cash and cash equivalents		3,375,662			-			3,375,662			-			3,375,662
	Investment in marketable securities		5,778,686			-			5,778,686			-			5,778,686
	Rent receivable, net of allowance for doubtful accounts of approximately $86,000		-			64,053			64,053			-			64,053
	Deferred rent receivable		-			375,485			375,485			-			375,485
	GSD Line of Credit		4,952,914			-			4,952,914			(4,952,914	)		-
	Prepaid expenses and other assets		513,812			671,776			1,185,588			-			1,185,588
	Mortgage receivable		12,645,754			-			12,645,754			(12,645,754	)		-
	Total Assets	$	27,266,828		$	33,629,465		$	60,896,293		$	(17,598,668	)	$	43,297,625
	LIABILITIES AND EQUITY
	LIABILITIES:
	Accounts payable	$	426,841		$	177,234		$	604,075		$	-		$	604,075
	Accrued liabilities		510,428			32,378			542,806			-			542,806
	Deferred rent liability		-			257,968			257,968			-			257,968
	Tenant security deposits payable		-			459,261			459,261			-			459,261
	GSD Line of Credit		-			4,952,914			4,952,914			(4,952,914	)		-
	Mortgage Payable		-			12,645,754			12,645,754			(12,645,754	)		-
	Income taxes payable		772,100			-			772,100			-			772,100
	Pension costs		394,008			-			394,008						394,008
	Notes payable		17,533,210			-			17,533,210			-			17,533,210
	Total Liabilities		19,636,587			18,525,509			38,162,096			(17,598,668	)		20,563,428
	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		(592,579	)		-			(592,579	)		-			(592,579	)
	Deficit		(9,716,876	)		(3,962,512	)		(13,679,388	)		3,962,512			(9,716,876	)
			9,167,938			(3,962,512	)		5,205,426			3,962,512			9,167,938
	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		7,630,241			(3,962,512	)		3,667,729			3,962,512			7,630,241
	Non-controlling interest in GSD, LLC					19,066,468			19,066,468			(3,962,512	)		15,103,956
	Total equity		7,630,241			15,103,956			22,734,197			-			22,734,197
	Total Liabilities and Equity	$	27,266,828		$	33,629,465		$	60,896,293		$	(17,598,668	)	$	43,297,625
	Consolidated Statement of Operations – Three Months Ended March 31, 2015
		Gyrodyne Company of America, Inc.			GSD, LLC			Total			Eliminations			Consolidated
	Revenues
	Rental income	$	-		$	1,110,481		$	1,110,481			-		$	1,110,481
	Rental income - tenant reimbursements		-			148,270			148,270			-			148,270
	Other income		1,491,734			-			1,491,734			(1,491,734	)		-
	Total		1,491,734			1,258,751			2,750,485			(1,491,734	)		1,258,751
	Expenses
	Reimbursable expenses		718,548			-			718,548			(718,548	)		-
	Rental expenses		-			742,863			742,863			(24,315	)		718,548
	General and administrative expenses		643,509			564,537			1,208,046			(564,537	)		643,509
	Strategic alternative expenses		199,875			184,334			384,209			(184,334	)		199,875
	Depreciation		-			250,605			250,605			-			250,605
	Total		1,561,932			1,742,339			3,304,271			(1,491,734	)		1,812,537
Other Income (Expense):
Interest income		248,538			-			248,538			(218,004	)		30,534
Interest expense		(219,165	)		(218,004	)		(437,169	)		218,004			(219,165	)
Total		29,373			(218,004	)		(188,631	)		-			(188,631	)
Net Loss before provision for income taxes		(40,825	)		(701,592	)		(742,417	)		-			(742,417	)
Provision for income taxes		22,100			-			22,100			-			22,100
Net Loss	$	(62,925	)	$	(701,592	)	$	(764,517	)	$	-		$	(764,517	)

Note_7_Real_Estate_Assets_Held

Note 7 - Real Estate Assets Held for Sale and Discontinued Operations:	3 Months Ended
	Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	7.     Real Estate Assets Held for Sale and Discontinued Operations:
	Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the Consolidated Balance Sheets as “Assets held for Sale”, with assets and liabilities being separately stated. The operating results of these properties are reflected as discontinued operations in the Consolidated Statements of Operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties.
	As of April 1, 2014, all of the assets and liabilities that relate to the Cortlandt Manor Medical Center and the Fairfax Medical Center were reported as assets held for sale, and liabilities held for sale, respectively. Additionally, all of the operations related to the Cortlandt Manor Medical Center and the Fairfax Medical Center were reported as discontinued operations, and were reported as such in the unaudited consolidated financial statements. The prior period assets and liabilities and operations related to these entities were recast as assets and liabilities held for sale, and discontinued operations retroactively for all periods presented on the Company’s quarterly reports for the second and third quarters of 2014.
	The Company has not sold the Cortlandt Manor and Fairfax properties. In addition, in early 2015, the Company became aware that various aspects of the plaintiff’s claims in a putative class action lawsuit against the Company, members of the Company’s board of directors, GSD and Gyrodyne, LLC were interfering with the aforementioned proposed sale of such properties. The defendants believe the lawsuit is without merit. The Company will vigorously defend such action and take steps to seek to eliminate the issues created by the pending action that are impeding the sale. The Company believes that the issues will be resolved in the Company’s favor and that it will be able to liquidate the properties proposed to be sold with no impact to fair value, assuming the market itself does not materially change during the period the Company needs to resolve such issues. As a result of this interference in the sale process, however, the Company believes that as of December 31, 2014, it no longer met the requirements for such assets and liabilities to qualify as assets and liabilities as held for sale and discontinued operations and therefore has reclassified them to operating assets and liabilities and continuing operations and is not reporting discontinued operations for the year ended December 31, 2014 or for the three months ended March 31, 2015.

Note_8_Investment_in_Marketabl

Note 8 - Investment in Marketable Securities:	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	8.     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, 2015 and December 31, 2014 are as follows:
		31-Mar-15		31-Dec-14
	Amortized cost	$	5,718,872	$	5,931,387
	Gross Unrealized Gains		59,814		18,711
	Fair Value*	$	5,778,686	$	5,950,098
	*The Company received $212,515 in principal repayments during the three months ended March 31, 2015
	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, 2015 and December 31, 2014, marketable securities based on amortized cost, reflect a yield of approximately 2%, have contractual maturities of 15 or 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 18 – Fair Value of Financial Instruments. None of the securities had unrealized losses at March 31, 2015 and none of the prior years unrealized losses were considered to be other-than-temporarily impaired; therefore the prior year unrealized losses were reported in the Consolidated Statement of Comprehensive Income (Loss) and the reversal of those losses were also reported in the Consolidated Statement of Comprehensive Income (Loss).

Note_9_Notes_Payable

Note 9 - Notes Payable:	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Long-term Debt [Text Block]	9.     Notes Payable:
	The transfer of the properties by the Company to GSD resulted in the recognition of approximately $28.4 million of capital gain income by the Company in 2013. Giving effect to offsetting deductions, the Company determined that it would have approximately $18 million in REIT income for 2013. In order to satisfy applicable REIT distribution requirements, on December 20, 2013, the Company declared an additional dividend, payable to the Company’s shareholders of record as of December 31, 2013 on January 31, 2014. The Second Special Dividend was paid in the form of interests in a global dividend note due June 30, 2017 (“Dividend Note”) aggregating $16,150,000 ($10.89 per share) in principal amount. The Dividend Note bears interest at 5.0% per annum, payable semi-annually on June 15 and December 15 of each year, commencing June 15, 2014, and may be payable in cash or in the form of additional notes. On June 16, 2014 and December 15, 2014, the initial and second semi-annual interest payment on the Dividend Note was paid in kind in the form of uncertificated interests in a global subordinated note due June 30, 2017 in the principal amount of $302,813 and $403,750, respectively, that otherwise is identical to the Dividend Note other than as to the initial semi-annual interest payment date thereunder.
	On September 12, 2014, the board of directors declared a special supplemental dividend in the amount of $682,033 or $0.46 per share of Gyrodyne common stock. The dividend was paid in the form of non-transferrable interests in a subordinated dividend note on December 31, 2014 to all shareholders of record on September 26, 2014. The dividend was intended to prevent the imposition of federal corporate income tax on the Company’s undistributed 2013 REIT taxable income.
		31-Mar-15		31-Dec-14
	Global Dividend Note issued January 2014	$	16,144,614	$	16,144,614
	Global Note issued June 2014		302,813		302,813
	Global Note issued December 2014		403,750		403,750
	Global Dividend Note issued December 2014		682,033		682,033
	Total Notes Payable	$	17,533,210	$	17,533,210

Note_10_Earnings_per_Share

Note 10 - Earnings per Share:	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	10.  Earnings per Share:
	Basic earnings per common share are computed by dividing net (loss) income, 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, 2015, and 2014.
		Three Months Ended March 31,
	BASIC	2015			2014
	Net (loss) income attributable to Gyrodyne	$	(62,925	)	$	12,072
	Weighted average number of common shares outstanding		1,482,680			1,482,680
	Net (loss) income per common share attributable to Gyrodyne (“EPS”)	$	(0.04	)	$	0.01

Note_11_Income_Taxes

Note 11 - Income Taxes:	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	11.  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. The Company’s first quarter tax provision of $22,100 was incurred through its taxable REIT subsidiary, Flowerfield Properties, Inc. which files separate Federal and state tax returns and had an approximate 40% effective tax rate for the quarter ended March 31, 2015. The Company also files separate US Federal and State Tax Returns for Gyrodyne Special Distribution LLC. The income tax expense is comprised of the following for the periods ended March 31, 2015 and year and 2014, respectively which reflects an approximate 40% effective rate on Flowerfield Properties, Inc.:
		31-Mar-15		31-Mar-14
	Current:
	Federal	$	17,400	$	-
	State		4,700		-
		$	22,100	$	-
	Deferred:
	Federal	$	-	$	-
	State		-
			-
	Income tax expense (benefit)	$	22,100	$	-
	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. The Company does not have any deferred income tax assets or liabilities as of March 31, 2015 or December 31, 2014. The Company has the following current tax liabilities for the period ended March 31, 2015 and December 31, 2014 as follows:
		31-Mar-15		31-Dec-14
	Current:
	Federal	$	659,040	$	641,640
	State		113,060		108,360
	Total	$	772,100	$	750,000
	Current income tax liabilities consist of the following:
		31-Mar-15		31-Dec-14
	Current Tax Liabilities:
	Flowerfield Properties, excluding recognized gain on the Grove	$	154,100	$	132,000
	Recognized tax gain on the Grove		618,000		618,000
	Total current tax payable	$	772,100	$	750,000

Note_12_Retirement_Plans

Note 12 - Retirement Plans:	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	12.   Retirement Plans:
	On November 25, 2013 the Company’s board of directors voted to terminate the noncontributory defined benefit pension plan (the “Plan”), subject to regulatory approval, and has begun the process of termination. On February 28, 2014, the Company submitted the necessary application and related documents to the IRS and to the Pension Benefit Guarantee Corporation (“PBGC”) in August 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 quarter of 2015.
	As a result of the board of directors vote to terminate the pension plan, on February 28, 2014 the non-vested benefits became fully vested, and the effects of future contribution levels will cease to be an obligation. The Pension plan has an accumulated net unrecognized loss. Any loss from termination will be netted against the unrecognized pension loss 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 following table provides the components of net periodic pension benefit cost for the Plan for the three-months ended March 31, 2015 and 2014 including the required and expected contributions:
		Three Months Ended
		March31,
		2015			2014
	Pension Benefits
	Service Cost	$	-		$	46,427
	Interest Cost		3,710			45,708
	Expected Return on Plan Assets		(3,429	)		-90,310
	Amortization of prior service costs		46,393			5,644
	Amortization of Actuarial Loss		221,105			-
	Change in net gain due to settlement		(242,817	)		-
	Net Periodic Pension Benefit Cost After Curtailments and Settlements	$	24,962		$	7,469
	Minimum required contribution	$	-		$	-
	Expected contribution	$	-		$	-
	During the three-months ended March 31, 2015, the Company made a $183,500 contribution to the Plan to supplement the liquidity needs to meet lump sum distribution elections. During the three-month period ended March 31, 2014, the Company did not make any contribution to the Plan. While the Company does not have a minimum required contribution for the December 31, 2015 plan year, as a result of the termination of the pension plan, in addition to the prior contribution, the Company may have to make a contribution of up to approximately $1,864,000 to satisfy the lump sum payment options and/or to purchase annuities.

Note_13_Incentive_Compensation

Note 13 - Incentive Compensation Plan:	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	13.  Incentive Compensation Plan:
	Benefits under the Company’s Incentive Compensation Plan (the “ICP”) are realized upon either a Change-in-Control (as defined in the ICP) of the Company, or upon the issuance by the Company of an “Excess Dividend” (as defined in the ICP) following certain asset sales. The ICP provides that payments made in connection with an Excess Dividend may not exceed the hypothetical ICP payments that would have been made had there instead been a Change in Control transaction 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, were 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		550	$	1,166
	Directors		53,900	$	114,268
	Total ICP excluding termed employees and directors		69,300	$	146,916
	Former CEO		20,350	$	43,142
	All other former employees		12,100	$	25,652
	Former director		8,250	$	17,490
	Total former Board members and former employees		40,700	$	86,284
	Total maximum ICP to be paid		110,000	$	233,200

Note_14_Retention_Bonus_Plan

Note 14 - Retention Bonus Plan:	3 Months Ended
	Mar. 31, 2015
Compensation Related Costs [Abstract]
Compensation Related Costs, General [Text Block]	14.  Retention Bonus Plan:
	In May 2014, our board of directors authorized a Retention Bonus Plan designed to recognize the nature and scope of the responsibilities related to such business plan, to reward and incent performance in connection therewith, to align the interests of directors, executives and employees with our shareholders and to retain such persons during the term of the plan. The Retention Bonus Plan provides for bonuses to directors and officers and employees determined by the gross sales proceeds from the sale of each property and the date of sale.
	The Retention Bonus Plan consists of a bonus pool that would be funded with an amount equal to 5% of the specified appraised value of each of the Contributed Properties (set forth in the plan), so long as the gross selling price of a property is equal to or greater than 100% of its appraised value (based on appraisals utilized to support the value of the real estate included in the non-cash dividend distributed on December 30, 2013). Additional funding of the bonus pool would occur on a property-by-property basis when the gross sales price of a property is in excess of its appraised value as follows: 10% on the first 10% of appreciation, 15% on the next 10% of appreciation and 20% on appreciation greater than 20%. Furthermore, if a specified property is sold on or before a designated date specified in the Retention Bonus Plan, an additional amount equal to 2% of the gross selling price of such property also would be funded into the bonus pool.
	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, GSD or Gyrodyne, LLC: 15% for the Chairman, 50% for the directors other than the chairman (10% for each of the other five directors) and 35% (the “Employee Pool”) for the Company’s executives and employees. Such share of the bonus pool is earned only upon the completion of the sale of a property at a gross selling price equal to or greater than its appraised value and is paid to the named beneficiaries of the Retention Bonus Plan or their designees within 60 days of the completion of such sale or, if later, within 60 days of receipt of any subsequent post-completion installment payment related to such sale. All allocations to individual beneficiaries in the Employee Pool shall be determined from time to time by the board of directors of the Company or its successor in consultation with its President.
	Pursuant to the terms of the Management Services Arrangement, the foregoing bonus payments made by the Company will be reimbursed by GSD (See Note 5, “Management Services Arrangements”).

Note_15_Concentration_of_Credi

Note 15 - Concentration of Credit Risk (Credit Concentration Risk [Member])	3 Months Ended
	Mar. 31, 2015
Credit Concentration Risk [Member]
Note 15 - Concentration of Credit Risk [Line Items]
Concentration Risk Disclosure [Text Block]	15	Concentration of Credit Risk
		Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents and securities issued with the guarantee of U.S. Government Agencies. The Company places its temporary cash investments with high credit quality financial institutions and generally limits the amount of credit exposure in any one financial institution. The Company maintains bank account balances, which exceed insured limits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on cash. Management does not believe significant credit risk existed at March 31, 2015 and December 31, 2014.

Note_16_Commitments_and_Contin

Note 16 - Commitments and Contingencies:	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block Supplement [Abstract]
Commitments Disclosure [Text Block]	16	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
	2016			$	3,864,000
	2017				2,884,000
	2018				2,285,000
	2019				2,071,000
	2020				1,464,000
	Thereafter				3,311,000
				$	15,879,000
	Other commitments and contingencies As of March 31, 2015, other commitments and contingencies are summarized in the below table:
	Incentive Compensation Plan		$	233,200
	Management Employment agreements with bonus and severance commitment contingencies			600,000
	Other employee severance commitment contingencies			76,000
	Total		$	909,200
	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 $76,000.
	As of December 31, 2014, the commitment related to severance is approximately $676,000.
	Excluded from the above contingency amounts are retention bonuses that may ultimately be payable under the Retention Bonus Plan, but which the amounts, if any, or top end of the range cannot be determined at this time.
	Retention Bonus Plan –In May 2014, our board of directors authorized a Retention Bonus Plan designed to recognize the nature and scope of the responsibilities related to the Company’s business plan, to reward and incent performance in connection therewith, to align the interests of directors, executives and employees with our shareholders and to retain such persons during the term of such plan. The Retention Bonus Plan provides for bonuses to directors and discretionary bonuses to officers and employees determined by the gross sales proceeds from the sale of each property and the date of sale.
	The Retention Bonus Plan consists of a bonus pool funded with an amount equal to 5% of the specified appraised value of each of the Contributed Properties (set forth in the Plan), so long as the gross selling price of a property is equal to or greater than 100% of its appraised value (based on appraisals utilized to support the value of the real estate included in the non-cash dividend distributed on December 30, 2013). Additional funding of the bonus pool will occur on a property-by-property basis when the gross sales price of a property is in excess of its appraised value as follows: 10% on the first 10% of appreciation, 15% on the next 10% of appreciation and 20% on appreciation greater than 20%. Furthermore, if a specified property is sold on or before a designated date specified in the Retention Bonus Plan, an additional amount equal to 2% of the gross selling price of such property also is funded into the bonus pool.
	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, GSD or Gyrodyne, LLC: 15% for the Chairman, 50% for the directors other than the Chairman (10% for each of the other five directors) and 35% (the “Employee Pool”) for the Company’s executives and employees. Such share of the bonus pool is earned only upon the completion of the sale of a property at a gross selling price equal to or greater than its appraised value and is paid to the named beneficiaries of the Retention Bonus Plan or their designees within 60 days of the completion of such sale or, if later, within 60 days of receipt of any subsequent post-completion installment payment related to such sale. All allocations to individual beneficiaries of the Employee Pool shall be determined by the board of directors of the Company or its successor in consultation with its President.

Note_17_Recent_Accounting_Pron

Note 17 - Recent Accounting Pronouncements:	3 Months Ended
	Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	17.  Recent Accounting Pronouncements:
	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 pronouncement is effective for fiscal years and interim periods ending after December 15, 2014. The adoption of this pronouncement did not have a material effect on the Company’s consolidated financial position or results of operations.
	Early adoption is permitted for disposals or assets held for sale that have not been reported in the financial statements previously issued or available for issuance. The Company has elected to early adopt this standard as of January 1, 2014.
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” The amendments in this Update create Topic 606, Revenue from Contracts with Customers, and supersede the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts, and create new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers. In summary, the core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The adoption of this pronouncement is not expected to have a material effect on the Company’s consolidated financial position or results of operations.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The adoption of this pronouncement is not expected to have a material effect on Company’s consolidated financial position or results of operations.
	In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810) - Amendments to the Consolidation Analysis.” The amendments in this update provide guidance on evaluating whether a company should consolidate certain legal entities. In accordance with the guidance, all legal entities are subject to reevaluation under the revised consolidation model. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is allowed. The adoption of this pronouncement is not expected to have a material effect on Company’s consolidated financial position or results of operations.
	In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”).” The purpose of this update is to simplify presentation of debt issuance costs. The amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments in this update is permitted for financial statements that have not been previously issued. The adoption of this pronouncement is not expected to have a material effect on Company’s consolidated financial position or results of operations.

Note_18_Fair_Value_of_Financia

Note 18 - Fair Value of Financial Instruments:	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	18.  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, 2015 and December 31, 2014, respectively.
		31-Mar-15				31-Dec-14
	Description	Carrying Value		Fair Value		Carrying Value		Fair Value
				(Level 2)				(Level 2)
	Investment in Marketable Securities	$	5,778,686	$	5,778,686*	$	5,950,098	$	5,950,098
	*The Company received $212,515 in principal repayments during the first three-months of 2015.
	The Company has investments in 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 cash flows 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 cash flow 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 following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of March 31, 2015 and December 31, 2014, aggregated by the level in the fair value hierarchy within which those measurements fall:
		Balance		Fair Value Measurements Using
	Description	31-Mar-15		(Level 1)		(Level 2)		(Level 3)
	Impaired real estate assets	$	6,157,559	$	—	$	—	$	6,157,559
		Balance		Fair Value Measurements Using
	Description	31-Dec-14		(Level 1)		(Level 2)		(Level 3)
	Impaired real estate assets	$	6,146,952	$	—	$	—	$	6,146,952
	The Company estimates the fair value of its real estate assets by using income and market valuation techniques. The Company may estimate fair values using market information such as broker opinions of value, appraisals, and recent sales data for similar assets or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under estimates forecasted cash outflows (tenant improvements, lease commissions and operating costs) or over estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated.
	The Company incurred a $200,000 impairment charge during the year ended December 31, 2014. During the three months ended March 31, 2015 the Company did not incur an impairment charge.
	The Company has maintained an interest in the Grove, which originally represented a 20% limited partnership interest in the Grove. The Grove owned a 3,700+ acre citrus grove located in Palm Beach County, Florida (the “Grove Property”), which is the subject of a plan for mixed-use development. 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 through 2013 was further diluted to approximately 9.32%. During 2014, certain limited partners voluntarily forfeited their interests back to the partnership which increased Gyrodyne’s interest to 10.12%.
	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 has defaulted on its loan from Prudential and that the Grove is 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 lawsuit was dismissed and Grove’s debt to Prudential was repaid. At March 31, 2015 and December 31, 2014, the investment is held in a taxable REIT subsidiary of the Company with $0 value. Furthermore, the Company had a $1,315,000 deferred tax liability related to the Grove, which represented taxable losses not yet recorded pursuant to the equity method of accounting. Following certain taxable gains received in 2014 but not yet recorded, the Company reversed the deferred tax liability in total in 2014 and recorded a current tax liability of approximately $618,000 and a tax benefit of $697,000, accordingly. The Company did not receive any distribution in connection with the sale. Under the agreement with the purchaser, the Grove may receive certain additional payments if certain development benchmarks are achieved by the purchaser. The Company cannot predict whether these benchmarks will be achieved or as to the timing or amount of any further distributions by the Grove.
	The Company is a limited partner in the Grove. The Grove does not have an audit, review or compilation of its financial statements, therefore, the Company is challenged to determine the collectability of any income generated by the Grove. As a result, the company will not recognize income from the Grove until the earlier of when cash distributions are received or upon receiving financial data that substantiates its results of operations.
	The Grove investment is a distressed asset operating in a distressed environment where an orderly transaction is not available. 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 or assuming the fair value is zero. The Company is accounting for the investment under the equity method. As of March 31, 2015 and December 31, 2014, the carrying value of the Company’s investment was $0.

Note_19_Impairment_of_Real_Est

Note 19 - Impairment of Real Estate Investments:	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges [Text Block]	19. 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, 2015 and 2014.

Note_20_Accumulated_Other_Comp

Note 20 - Accumulated Other Comprehensive Income:	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Comprehensive Income (Loss) Note [Text Block]	20. Accumulated Other Comprehensive Loss:
	Accumulated other comprehensive loss as of March 31, 2015 and December 31, 2014 was $(592,579) and $(633,682), respectively. The balances were comprised of the following:
		31-Mar-15			31-Dec-14
	Unrecorded gain on investments	$	59,814		$	18,711
	Unrecorded loss on pension		(652,393	)		(652,393	)
	Accumulated other comprehensive loss	$	(592,579	)	$	(633,682	)
	The change in other comprehensive loss was restricted to unrealized gain in marketable securities, a balance sheet item, and had no impact on net loss. Therefore, there were no reclassifications from other comprehensive loss to net loss for the periods presented.

Note_21_Reclassifications

Note 21 - Reclassifications:	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Reclassifications [Text Block]	21.  Reclassifications:
	Certain amounts in the prior period have been reclassified to conform to the classification used in the current period.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition – Base rents from rental properties are recognized on a straight-line basis over the terms of the related leases. The excess of rents recognized over amounts contractually due, if any, are included in deferred rents receivable on the Company's balance sheets. Alternatively, rents received in advance of rents recognized, if any, are included in deferred rent liability on the Company’s balance sheet. Certain leases also provide for tenant reimbursements of common area maintenance, other operating expenses and real estate taxes all of which are reported in tenant reimbursements on the consolidated statements of operations. Ancillary and other property related income is recognized in the period earned.
Revenue Recognition, Real Estate Transactions, Policy [Policy Text Block]	Gains on sales of real estate - Gains on sales of real estate are recognized based upon the specific timing of the sale as measured against various criteria related to the terms of the transactions and any continuing involvement associated with the properties. If the sales criteria are not met, the gain is deferred and the finance, installment or cost recovery method, as appropriate, is applied until the sales criteria are met. To the extent the GSD sells a property and retains a partial ownership interest in the property, the Company recognizes gain to the extent of the third-party ownership interest.
Discontinued Operations, Policy [Policy Text Block]	Assets Held For Sale and Discontinued Operations- Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the Consolidated Balance Sheets as “Assets held for Sale”, with assets and liabilities being separately stated. The operating results of these properties are reflected as discontinued operations in the Consolidated Statements of Operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties.

Note_6_Consolidating_Financial1

Note 6 - Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Balance Sheet [Table Text Block]		Gyrodyne Company of America, Inc. and Subsidiaries			GSD, LLC			Total			Eliminations			Consolidated
	ASSETS
	REAL ESTATE
	Rental property:
	Land	$	-		$	4,569,693		$	4,569,693		$	-		$	4,569,693
	Building and improvements		-			33,509,186			33,509,186			-			33,509,186
	Machinery and equipment		-			344,733			344,733			-			344,733
			-			38,423,612			38,423,612			-			38,423,612
	Less accumulated depreciation		-			8,455,022			8,455,022			-			8,455,022
			-			29,968,590			29,968,590			-			29,968,590
	Land held for development:
	Land		-			558,466			558,466			-			558,466
	Land development costs		-			1,991,095			1,991,095			-			1,991,095
			-			2,549,561			2,549,561			-			2,549,561
	Total real estate, net		-			32,518,151			32,518,151			-			32,518,151
	Cash and cash equivalents		3,375,662			-			3,375,662			-			3,375,662
	Investment in marketable securities		5,778,686			-			5,778,686			-			5,778,686
	Rent receivable, net of allowance for doubtful accounts of approximately $86,000		-			64,053			64,053			-			64,053
	Deferred rent receivable		-			375,485			375,485			-			375,485
	GSD Line of Credit		4,952,914			-			4,952,914			(4,952,914	)		-
	Prepaid expenses and other assets		513,812			671,776			1,185,588			-			1,185,588
	Mortgage receivable		12,645,754			-			12,645,754			(12,645,754	)		-
	Total Assets	$	27,266,828		$	33,629,465		$	60,896,293		$	(17,598,668	)	$	43,297,625
	LIABILITIES AND EQUITY
	LIABILITIES:
	Accounts payable	$	426,841		$	177,234		$	604,075		$	-		$	604,075
	Accrued liabilities		510,428			32,378			542,806			-			542,806
	Deferred rent liability		-			257,968			257,968			-			257,968
	Tenant security deposits payable		-			459,261			459,261			-			459,261
	GSD Line of Credit		-			4,952,914			4,952,914			(4,952,914	)		-
	Mortgage Payable		-			12,645,754			12,645,754			(12,645,754	)		-
	Income taxes payable		772,100			-			772,100			-			772,100
	Pension costs		394,008			-			394,008						394,008
	Notes payable		17,533,210			-			17,533,210			-			17,533,210
	Total Liabilities		19,636,587			18,525,509			38,162,096			(17,598,668	)		20,563,428
	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		(592,579	)		-			(592,579	)		-			(592,579	)
	Deficit		(9,716,876	)		(3,962,512	)		(13,679,388	)		3,962,512			(9,716,876	)
			9,167,938			(3,962,512	)		5,205,426			3,962,512			9,167,938
	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		7,630,241			(3,962,512	)		3,667,729			3,962,512			7,630,241
	Non-controlling interest in GSD, LLC					19,066,468			19,066,468			(3,962,512	)		15,103,956
	Total equity		7,630,241			15,103,956			22,734,197			-			22,734,197
	Total Liabilities and Equity	$	27,266,828		$	33,629,465		$	60,896,293		$	(17,598,668	)	$	43,297,625
Condensed Income Statement [Table Text Block]		Gyrodyne Company of America, Inc.			GSD, LLC			Total			Eliminations			Consolidated
	Revenues
	Rental income	$	-		$	1,110,481		$	1,110,481			-		$	1,110,481
	Rental income - tenant reimbursements		-			148,270			148,270			-			148,270
	Other income		1,491,734			-			1,491,734			(1,491,734	)		-
	Total		1,491,734			1,258,751			2,750,485			(1,491,734	)		1,258,751
	Expenses
	Reimbursable expenses		718,548			-			718,548			(718,548	)		-
	Rental expenses		-			742,863			742,863			(24,315	)		718,548
	General and administrative expenses		643,509			564,537			1,208,046			(564,537	)		643,509
	Strategic alternative expenses		199,875			184,334			384,209			(184,334	)		199,875
	Depreciation		-			250,605			250,605			-			250,605
	Total		1,561,932			1,742,339			3,304,271			(1,491,734	)		1,812,537
	Other Income (Expense):
	Interest income		248,538			-			248,538			(218,004	)		30,534
	Interest expense		(219,165	)		(218,004	)		(437,169	)		218,004			(219,165	)
	Total		29,373			(218,004	)		(188,631	)		-			(188,631	)
	Net Loss before provision for income taxes		(40,825	)		(701,592	)		(742,417	)		-			(742,417	)
	Provision for income taxes		22,100			-			22,100			-			22,100
	Net Loss	$	(62,925	)	$	(701,592	)	$	(764,517	)	$	-		$	(764,517	)

Note_8_Investment_in_Marketabl1

Note 8 - Investment in Marketable Securities: (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]		31-Mar-15		31-Dec-14
	Amortized cost	$	5,718,872	$	5,931,387
	Gross Unrealized Gains		59,814		18,711
	Fair Value*	$	5,778,686	$	5,950,098
	*The Company received $212,515 in principal repayments during the three months ended March 31, 2015

Note_9_Notes_Payable_Tables

Note 9 - Notes Payable: (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Schedule of Debt [Table Text Block]		31-Mar-15		31-Dec-14
	Global Dividend Note issued January 2014	$	16,144,614	$	16,144,614
	Global Note issued June 2014		302,813		302,813
	Global Note issued December 2014		403,750		403,750
	Global Dividend Note issued December 2014		682,033		682,033
	Total Notes Payable	$	17,533,210	$	17,533,210

Note_10_Earnings_per_Share_Tab

Note 10 - Earnings per Share: (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]		Three Months Ended March 31,
	BASIC	2015			2014
	Net (loss) income attributable to Gyrodyne	$	(62,925	)	$	12,072
	Weighted average number of common shares outstanding		1,482,680			1,482,680
	Net (loss) income per common share attributable to Gyrodyne (“EPS”)	$	(0.04	)	$	0.01

Note_11_Income_Taxes_Tables

Note 11 - Income Taxes: (Tables)	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]		31-Mar-15		31-Mar-14
	Current:
	Federal	$	17,400	$	-
	State		4,700		-
		$	22,100	$	-
	Deferred:
	Federal	$	-	$	-
	State		-
			-
	Income tax expense (benefit)	$	22,100	$	-
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]		31-Mar-15		31-Dec-14
	Current:
	Federal	$	659,040	$	641,640
	State		113,060		108,360
	Total	$	772,100	$	750,000
		31-Mar-15		31-Dec-14
	Current Tax Liabilities:
	Flowerfield Properties, excluding recognized gain on the Grove	$	154,100	$	132,000
	Recognized tax gain on the Grove		618,000		618,000
	Total current tax payable	$	772,100	$	750,000

Note_12_Retirement_Plans_Table

Note 12 - Retirement Plans: (Tables)	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]		Three Months Ended
		March31,
		2015			2014
	Pension Benefits
	Service Cost	$	-		$	46,427
	Interest Cost		3,710			45,708
	Expected Return on Plan Assets		(3,429	)		-90,310
	Amortization of prior service costs		46,393			5,644
	Amortization of Actuarial Loss		221,105			-
	Change in net gain due to settlement		(242,817	)		-
	Net Periodic Pension Benefit Cost After Curtailments and Settlements	$	24,962		$	7,469
	Minimum required contribution	$	-		$	-
	Expected contribution	$	-		$	-

Note_13_Incentive_Compensation1

Note 13 - Incentive Compensation Plan: (Tables)	3 Months Ended
	Mar. 31, 2015
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		550	$	1,166
	Directors		53,900	$	114,268
	Total ICP excluding termed employees and directors		69,300	$	146,916
	Former CEO		20,350	$	43,142
	All other former employees		12,100	$	25,652
	Former director		8,250	$	17,490
	Total former Board members and former employees		40,700	$	86,284
	Total maximum ICP to be paid		110,000	$	233,200

Note_16_Commitments_and_Contin1

Note 16 - Commitments and Contingencies: (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block Supplement [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Twelve Months Ending March 31,		Amount
	2016		$	3,864,000
	2017			2,884,000
	2018			2,285,000
	2019			2,071,000
	2020			1,464,000
	Thereafter			3,311,000
			$	15,879,000
Other Commitments [Table Text Block]	Incentive Compensation Plan	$	233,200
	Management Employment agreements with bonus and severance commitment contingencies		600,000
	Other employee severance commitment contingencies		76,000
	Total	$	909,200

Note_18_Fair_Value_of_Financia1

Note 18 - Fair Value of Financial Instruments: (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]		31-Mar-15				31-Dec-14
	Description	Carrying Value		Fair Value		Carrying Value		Fair Value
				(Level 2)				(Level 2)
	Investment in Marketable Securities	$	5,778,686	$	5,778,686*	$	5,950,098	$	5,950,098
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]		Balance		Fair Value Measurements Using
	Description	31-Mar-15		(Level 1)		(Level 2)		(Level 3)
	Impaired real estate assets	$	6,157,559	$	—	$	—	$	6,157,559
		Balance		Fair Value Measurements Using
	Description	31-Dec-14		(Level 1)		(Level 2)		(Level 3)
	Impaired real estate assets	$	6,146,952	$	—	$	—	$	6,146,952

Note_20_Accumulated_Other_Comp1

Note 20 - Accumulated Other Comprehensive Income: (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]		31-Mar-15			31-Dec-14
	Unrecorded gain on investments	$	59,814		$	18,711
	Unrecorded loss on pension		(652,393	)		(652,393	)
	Accumulated other comprehensive loss	$	(592,579	)	$	(633,682	)

Note_1_The_Company_Details

Note 1 - The Company: (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Note 1 - The Company: (Details) [Line Items]
Number of Operating Segments	1
Number of Mortgage Investments	3
Minimum Percentage of Taxable Income Distributed to Shareholders, Maintain REIT Status	90.00%
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
The Grove Property [Member]
Note 1 - The Company: (Details) [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	10.12%
Consolidation, Eliminations [Member] | Gyrodyne Special Distribution LLC [Member]
Note 1 - The Company: (Details) [Line Items]
Mortgage Loans on Real Estate (in Dollars)	12,645,754
Financing Receivable, Gross (in Dollars)	4,952,914
Consolidation, Eliminations [Member]
Note 1 - The Company: (Details) [Line Items]
Financing Receivable, Gross (in Dollars)	-4,952,914
Medical Office Park [Member]
Note 1 - The Company: (Details) [Line Items]
Number of Units in Real Estate Property	14
Gyrodyne Special Distribution LLC [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Note 1 - The Company: (Details) [Line Items]
Variable Interest Entity, Financial or Other Support, Amount (in Dollars)	5,500,000
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
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%
Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Note 1 - The Company: (Details) [Line Items]
Variable Interest Entity, Financial or Other Support, Amount (in Dollars)	5,500,000
Variable Interest Entity, 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_2_Strategic_Process_Detai

Note 2 - Strategic Process: (Details) (USD $)	0 Months Ended	1 Months Ended
	Mar. 06, 2015	Apr. 24, 2015	Apr. 27, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 05, 2014
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Outstanding Shares Voted by Delivery of Proxy Cards						45.00%
Percentage of Shares Voted in Favor of Merger						97.00%
Expected Gross Proceeds from Rights Offering (in Dollars)	$6,116,055
Notes Payable (in Dollars)		17,533,000		17,533,210	17,533,210
Subsequent Event [Member] | Rights Offering [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Share Price (in Dollars per share)			$2.75
Expected Gross Proceeds from Rights Offering (in Dollars)		$5,606,000
Maximum Number of Stock to be Distributed from Rights Offering (in Shares)			2,224,020
Subsequent Event [Member] | Gyrodyne Shareholders [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Shares to be Allocated from Merger		22.60%
Subsequent Event [Member] | Holders of Dividend Notes [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Shares to be Allocated from Merger		30.00%
Rights Offering [Member] | Holders of Common Shares of GSD [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Shares to be Allocated from Merger		47.40%
Rights Offering [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Share Price (in Dollars per share)	$2.75
Number of Subscription Rights	3
Number of Common Stock Held of Record (in Shares)	2
Common Stock Purchase from each Subscription Right (in Shares)	1
Gyrodyne Shareholders [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Shares to be Allocated from Merger				15.20%
Holders of Dividend Notes [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Shares to be Allocated from Merger				29.20%
Holders of Common Shares of GSD [Member]
Note 2 - Strategic Process: (Details) [Line Items]
Percentage of Shares to be Allocated from Merger				55.60%

Note_5_Principles_of_Consolida1

Note 5 - Principles of Consolidation: (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 30, 2013
Note 5 - Principles of Consolidation: (Details) [Line Items]
Minimum Ownership Percentage in Limited Partnerships, Equity Method	5.00%
Equity Method Investments	$0		$0
Payment for Management Fee	82,982	88,878
Mortgage Obligation [Member] | Gyrodyne Special Distribution LLC [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities	12,645,754		12,889,463
Gyrodyne Special Distribution LLC [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Interest Income, Related Party	218,004	170,174
Gyrodyne Special Distribution LLC [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity, Financial or Other Support, Amount	5,500,000
Gyrodyne Special Distribution LLC [Member] | Maximum [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity, Financial or Other Support, Amount	2,500,000
Gyrodyne Special Distribution LLC [Member] | General and Administrative Expenses [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity Management Fee Mark Up	8.50%
Gyrodyne Special Distribution LLC [Member] | Rental Expense [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity Reimbursement Percentage	8.50%
Gyrodyne Special Distribution LLC [Member] | Employee and Director Bonuses [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity Reimbursement Percentage	100.00%
Gyrodyne Special Distribution LLC [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net	15,103,956		15,805,548
Variable Interest Entity Funds Advanced Interest Rate	5.00%
Gyrodyne Special Distribution LLC [Member] | Estimate of Fair Value Measurement [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Real Estate Investment Property, Net				$30,685,000
Variable Interest Entity, Not Primary Beneficiary [Member] | General and Administrative Expenses [Member]
Note 5 - Principles of Consolidation: (Details) [Line Items]
Variable Interest Entity Reimbursement Percentage	85.00%

Note_6_Consolidating_Financial2

Note 6 - Consolidating Financial Information (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Note 6 - Consolidating Financial Information (Details) [Line Items]
Deferred Rent Receivables, Net	$375,485	$334,914
Receivables, Net, Current	64,053	7,452
Prepaid Expense and Other Assets	1,185,588	920,614
Security Deposit Liability	459,261	474,425
Accounts Payable	604,075	793,262
Accrued Liabilities	542,806	220,573
Deferred Rent Credit	257,968	94,737
Variable Interest Entity, Primary Beneficiary [Member] | Mortgages [Member]
Note 6 - Consolidating Financial Information (Details) [Line Items]
Loans Payable	12,645,754	12,889,463
Variable Interest Entity, Primary Beneficiary [Member]
Note 6 - Consolidating Financial Information (Details) [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Assets	33,629,465	33,763,279
Real Estate Investments, Net	32,518,151	32,634,949
Deferred Rent Receivables, Net	375,485	334,914
Receivables, Net, Current	64,053	7,452
Prepaid Expense and Other Assets	671,776	785,964
Security Deposit Liability	459,261	474,425
Accounts Payable	177,234	218,163
Accrued Liabilities	32,378	0
Deferred Rent Credit	257,968	94,737
Long-term Line of Credit	$4,952,914	$4,280,943

Note_6_Consolidating_Financial3

Note 6 - Consolidating Financial Information (Details) - Consolidated Balance Sheet (USD $)	Apr. 24, 2015	Mar. 31, 2015		Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Rental property:
Land		$4,569,693		$4,569,693
Building and improvements		33,509,186		33,405,129
Machinery and equipment		344,733		344,733
		38,423,612		38,319,555
Less accumulated depreciation		8,455,022		8,204,417
		29,968,590		30,115,138
Land held for development:
Land		558,466		558,466
Land development costs		1,991,095		1,961,345
		2,549,561		2,519,811
Total real estate, net		32,518,151		32,634,949
Cash and cash equivalents		3,375,662		4,028,337	8,481,571	13,048,827
Investment in marketable securities		5,778,686	[1]	5,950,098
Rent receivable, net of allowance for doubtful accounts of approximately $86,000		64,053		7,452
Deferred rent receivable		375,485		334,914
Prepaid expenses and other assets		1,185,588		920,614
Total Assets		43,297,625		43,876,364
LIABILITIES:
Accounts payable		604,075		793,262
Accrued liabilities		542,806		220,573
Deferred rent liability		257,968		94,737
Tenant security deposits payable		459,261		474,425
Income taxes payable		772,100		750,000
Pension costs		394,008
Notes payable	17,533,000	17,533,210		17,533,210
Total Liabilities		20,563,428		20,418,753
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		-592,579		-633,682
Deficit		-9,716,876		-9,653,951
		9,167,938		9,189,760
Less cost of shares of common stock held in treasury; 241,208		-1,537,697		-1,537,697
Total Gyrodyne Stockholdersb Equity		7,630,241		7,652,063
Non-controlling interest in GSD, LLC		15,103,956		15,805,548
Total equity		22,734,197		23,457,611
Total Liabilities and Equity		43,297,625		43,876,364
Consolidation, Eliminations [Member]
Land held for development:
GSD Line of Credit		-4,952,914
Mortgage receivable		-12,645,754
Total Assets		-17,598,668
LIABILITIES:
GSD Line of Credit		-4,952,914
Mortgage Payable		-12,645,754
Total Liabilities		-17,598,668
EQUITY:
Deficit		3,962,512
		3,962,512
Total Gyrodyne Stockholdersb Equity		3,962,512
Non-controlling interest in GSD, LLC		-3,962,512
Total Liabilities and Equity		-17,598,668
Parent Company [Member]
Land held for development:
Cash and cash equivalents		3,375,662
Investment in marketable securities		5,778,686
GSD Line of Credit		4,952,914
Prepaid expenses and other assets		513,812
Mortgage receivable		12,645,754
Total Assets		27,266,828
LIABILITIES:
Accounts payable		426,841
Accrued liabilities		510,428
Income taxes payable		772,100
Pension costs		394,008
Notes payable		17,533,210
Total Liabilities		19,636,587
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		-592,579
Deficit		-9,716,876
		9,167,938
Less cost of shares of common stock held in treasury; 241,208		-1,537,697
Total Gyrodyne Stockholdersb Equity		7,630,241
Total equity		7,630,241
Total Liabilities and Equity		27,266,828
Gyrodyne Special Distribution LLC [Member]
Rental property:
Land		4,569,693
Building and improvements		33,509,186
Machinery and equipment		344,733
		38,423,612
Less accumulated depreciation		8,455,022
		29,968,590
Land held for development:
Land		558,466
Land development costs		1,991,095
		2,549,561
Total real estate, net		32,518,151
Rent receivable, net of allowance for doubtful accounts of approximately $86,000		64,053
Deferred rent receivable		375,485
Prepaid expenses and other assets		671,776
Total Assets		33,629,465
LIABILITIES:
Accounts payable		177,234
Accrued liabilities		32,378
Deferred rent liability		257,968
Tenant security deposits payable		459,261
GSD Line of Credit		4,952,914
Mortgage Payable		12,645,754
Total Liabilities		18,525,509
EQUITY:
Deficit		-3,962,512
		-3,962,512
Total Gyrodyne Stockholdersb Equity		-3,962,512
Non-controlling interest in GSD, LLC		19,066,468
Total equity		15,103,956
Total Liabilities and Equity		33,629,465
Consolidated Entities [Member]
Rental property:
Land		4,569,693
Building and improvements		33,509,186
Machinery and equipment		344,733
		38,423,612
Less accumulated depreciation		8,455,022
		29,968,590
Land held for development:
Land		558,466
Land development costs		1,991,095
		2,549,561
Total real estate, net		32,518,151
Cash and cash equivalents		3,375,662
Investment in marketable securities		5,778,686
Rent receivable, net of allowance for doubtful accounts of approximately $86,000		64,053
Deferred rent receivable		375,485
GSD Line of Credit		4,952,914
Prepaid expenses and other assets		1,185,588
Mortgage receivable		12,645,754
Total Assets		60,896,293
LIABILITIES:
Accounts payable		604,075
Accrued liabilities		542,806
Deferred rent liability		257,968
Tenant security deposits payable		459,261
GSD Line of Credit		4,952,914
Mortgage Payable		12,645,754
Income taxes payable		772,100
Pension costs		394,008
Notes payable		17,533,210
Total Liabilities		38,162,096
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		-592,579
Deficit		-13,679,388
		5,205,426
Less cost of shares of common stock held in treasury; 241,208		-1,537,697
Total Gyrodyne Stockholdersb Equity		3,667,729
Non-controlling interest in GSD, LLC		19,066,468
Total equity		22,734,197
Total Liabilities and Equity		$60,896,293
[1]	The Company received $212,515 in principal repayments during the first three-months of 2015.

Note_6_Consolidating_Financial4

Note 6 - Consolidating Financial Information (Details) - Consolidated Balance Sheet (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Condensed Balance Sheet Statements, Captions [Line Items]
Allowance for doubtful accounts (in Dollars)	$86,000	$89,000
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_6_Consolidating_Financial5

Note 6 - Consolidating Financial Information (Details) - Consolidated Statement of Operations (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues
Rental income	$1,110,481	$1,120,645
Rental income - tenant reimbursements	148,270	179,390
Total	1,258,751	1,300,035
Expenses
Rental expenses	718,548	711,602
General and administrative expenses	643,509	570,750
Strategic alternative expenses	199,875	337,742
Depreciation	250,605	240,893
Total	1,812,537	1,860,987
Other Income (Expense):
Interest income	30,534	23,832
Interest expense	-219,165	-134,538
Total	-188,631	-110,706
Net Loss before provision for income taxes	-742,417	-671,658
Provision for income taxes	22,100
Net Loss	-764,517	-671,658
Consolidation, Eliminations [Member]
Revenues
Other income	-1,491,734
Total	-1,491,734
Expenses
Reimbursable expenses	-718,548
Rental expenses	-24,315
General and administrative expenses	-564,537
Strategic alternative expenses	-184,334
Total	-1,491,734
Other Income (Expense):
Interest income	-218,004
Interest expense	218,004
Parent Company [Member]
Revenues
Other income	1,491,734
Total	1,491,734
Expenses
Reimbursable expenses	718,548
General and administrative expenses	643,509
Strategic alternative expenses	199,875
Total	1,561,932
Other Income (Expense):
Interest income	248,538
Interest expense	-219,165
Total	29,373
Net Loss before provision for income taxes	-40,825
Provision for income taxes	22,100
Net Loss	-62,925
Gyrodyne Special Distribution LLC [Member]
Revenues
Rental income	1,110,481
Rental income - tenant reimbursements	148,270
Total	1,258,751
Expenses
Rental expenses	742,863
General and administrative expenses	564,537
Strategic alternative expenses	184,334
Depreciation	250,605
Total	1,742,339
Other Income (Expense):
Interest expense	-218,004
Total	-218,004
Net Loss before provision for income taxes	-701,592
Net Loss	-701,592
Consolidated Entities [Member]
Revenues
Rental income	1,110,481
Rental income - tenant reimbursements	148,270
Other income	1,491,734
Total	2,750,485
Expenses
Reimbursable expenses	718,548
Rental expenses	742,863
General and administrative expenses	1,208,046
Strategic alternative expenses	384,209
Depreciation	250,605
Total	3,304,271
Other Income (Expense):
Interest income	248,538
Interest expense	-437,169
Total	-188,631
Net Loss before provision for income taxes	-742,417
Provision for income taxes	22,100
Net Loss	($764,517)

Note_8_Investment_in_Marketabl2

Note 8 - Investment in Marketable Securities: (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Note 8 - Investment in Marketable Securities: (Details) [Line Items]
Proceeds from Principal Repayments on Loans and Leases Held-for-investment (in Dollars)	$212,515
Marketable Securities Estimated Yield	2.00%	2.00%
Marketable Securities Adjusted Duration	4 years	4 years
Unrealized Loss on Securities (in Dollars)	$0
Minimum [Member]
Note 8 - Investment in Marketable Securities: (Details) [Line Items]
Marketable Securities, Contractual Maturities	15 years	15 years
Maximum [Member]
Note 8 - Investment in Marketable Securities: (Details) [Line Items]
Marketable Securities, Contractual Maturities	30 years	30 years

Note_8_Investment_in_Marketabl3

Note 8 - Investment in Marketable Securities: (Details) - Historical Cost and Estimated Fair Value of Available for Sale Securities (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Historical Cost and Estimated Fair Value of Available for Sale Securities [Abstract]
Amortized cost	$5,718,872		$5,931,387
Gross Unrealized Gains	59,814		18,711
Fair Value*	$5,778,686	[1]	$5,950,098	[1]
[1]	*The Company received $212,515 in principal repayments during the three months ended March 31, 2015

Note_9_Notes_Payable_Details

Note 9 - Notes Payable: (Details) (USD $)	0 Months Ended	12 Months Ended
	Sep. 12, 2014	Dec. 31, 2013	Apr. 24, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 15, 2014	Jun. 16, 2014	Jun. 15, 2014
Note 9 - Notes Payable: (Details) [Line Items]
Income (Loss) before Gain or Loss on Sale of Properties, and Extraordinary Items		$18,000,000
Notes Payable			17,533,000	17,533,210	17,533,210
Dividends, Cash	682,033
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share)	$0.46
Global Dividend Note Payable [Member]
Note 9 - Notes Payable: (Details) [Line Items]
Notes Payable				16,150,000	16,144,614	403,750	302,813
Dividends Payable, Amount Per Share (in Dollars per share)				$10.89
Debt Instrument, Interest Rate, Stated Percentage								5.00%
Gyrodyne Special Distribution LLC [Member]
Note 9 - Notes Payable: (Details) [Line Items]
Gain (Loss) on Sale of Properties		$28,400,000

Note_9_Notes_Payable_Details_S

Note 9 - Notes Payable: (Details) - Summary of Notes Payable (USD $)	Apr. 24, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 15, 2014	Jun. 16, 2014
Note 9 - Notes Payable: (Details) - Summary of Notes Payable [Line Items]
Notes payable	$17,533,000	$17,533,210	$17,533,210
Global Dividend Note Payable [Member]
Note 9 - Notes Payable: (Details) - Summary of Notes Payable [Line Items]
Notes payable		16,150,000	16,144,614	403,750	302,813
Global Dividend Issued June 2014 [Member]
Note 9 - Notes Payable: (Details) - Summary of Notes Payable [Line Items]
Notes payable		302,813	302,813
Global Note Issued December 2014 [Member]
Note 9 - Notes Payable: (Details) - Summary of Notes Payable [Line Items]
Notes payable		403,750	403,750
Global Dividend Note Issued December 2014 [Member]
Note 9 - Notes Payable: (Details) - Summary of Notes Payable [Line Items]
Notes payable		$682,033	$682,033

Note_10_Earnings_per_Share_Det

Note 10 - Earnings per Share: (Details)	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Common Stock Equivalents Outstanding	0	0

Note_10_Earnings_per_Share_Det1

Note 10 - Earnings per Share: (Details) - Summary of Net Income (Loss) Earnings Per Share (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Summary of Net Income (Loss) Earnings Per Share [Abstract]
Net (loss) income attributable to Gyrodyne	($62,925)	$12,072
Weighted average number of common shares outstanding	1,482,680	1,482,680
Net (loss) income per common share attributable to Gyrodyne (bEPSb)	($0.04)	$0.01

Note_11_Income_Taxes_Details

Note 11 - Income Taxes: (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Note 11 - Income Taxes: (Details) [Line Items]
Income Tax Expense (Benefit)	$22,100
Deferred Tax Assets, Net of Valuation Allowance	0	0
Deferred Tax Liabilities, Net	0	0
Flowerfield Properties, Inc. [Member]
Note 11 - Income Taxes: (Details) [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	40.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$0.40

Note_11_Income_Taxes_Details_T

Note 11 - Income Taxes: (Details) - Tax Provision for Income Taxes (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Current:
Federal	$17,400
State	4,700
	22,100
Deferred:
Federal		0
State		0
		0
Income tax expense (benefit)	$22,100

Note_11_Income_Taxes_Details_C

Note 11 - Income Taxes: (Details) - Current Tax Liabilities (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Note 11 - Income Taxes: (Details) - Current Tax Liabilities [Line Items]
Current tax liabilities	$772,100	$750,000
Total current tax payable	772,100	750,000
The Grove, Florida [Member]
Note 11 - Income Taxes: (Details) - Current Tax Liabilities [Line Items]
Current tax liabilities		618,000
Gain on condemnation	618,000	618,000
Total current tax payable		618,000
Domestic Tax Authority [Member]
Note 11 - Income Taxes: (Details) - Current Tax Liabilities [Line Items]
Current tax liabilities	659,040	641,640
Total current tax payable	659,040	641,640
State and Local Jurisdiction [Member]
Note 11 - Income Taxes: (Details) - Current Tax Liabilities [Line Items]
Current tax liabilities	113,060	108,360
Total current tax payable	113,060	108,360
Flowerfield Properties, Inc. [Member]
Note 11 - Income Taxes: (Details) - Current Tax Liabilities [Line Items]
Gain on condemnation	$154,100	$132,000

Note_12_Retirement_Plans_Detai

Note 12 - Retirement Plans: (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Plan, Contributions by Employer	$183,500
Defined Benefit Plan Obligation, Underfunded	$1,864,000

Note_12_Retirement_Plans_Detai1

Note 12 - Retirement Plans: (Details) - Components of Net Periodic Benefit Cost (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Pension Benefits
Service Cost		$46,427
Interest Cost	3,710	45,708
Expected Return on Plan Assets	-3,429	-90,310
Amortization of prior service costs	46,393	5,644
Amortization of Actuarial Loss	221,105
Change in net gain due to settlement	-242,817
Net Periodic Pension Benefit Cost After Curtailments and Settlements	$24,962	$7,469

Note_13_Incentive_Compensation2

Note 13 - Incentive Compensation Plan: (Details) (USD $)	0 Months Ended	3 Months Ended	1 Months Ended
	Sep. 12, 2014	Mar. 31, 2015	Dec. 30, 2013
Note 13 - Incentive Compensation Plan: (Details) [Line Items]
Dividends, Cash	$682,033
Required Cash Payment [Member] | Special Distributions [Member] | Incentive Compensation Plan [Member]
Note 13 - Incentive Compensation Plan: (Details) [Line Items]
Dividends, Cash		5,044,600
Special Distributions [Member] | Incentive Compensation Plan [Member]
Note 13 - Incentive Compensation Plan: (Details) [Line Items]
Dividends, Cash		68,000,000
Incentive Compensation Plan [Member]
Note 13 - Incentive Compensation Plan: (Details) [Line Items]
Dividends		5,277,800	98,685,000
Remaining Liability Under Incentive Plan, Aggregative Maximum		$233,200

Note_13_Incentive_Compensation3

Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees (USD $)	Mar. 31, 2015
Share data in Millions, unless otherwise specified
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	110,000
Non-Cash Dividends [Member] | Chief Operating Officer [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	31,482
Non-Cash Dividends [Member] | Current Employees [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	1,166
Non-Cash Dividends [Member] | Director [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	114,268
Non-Cash Dividends [Member] | Current COO, Employees and Directors [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	146,916
Non-Cash Dividends [Member] | Former Chief Executive Officer [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	43,142
Non-Cash Dividends [Member] | Other Employees [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	25,652
Non-Cash Dividends [Member] | Former Director [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	17,490
Non-Cash Dividends [Member] | Former Board Members and Employees [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	86,284
Non-Cash Dividends [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Benefits relating to non-cash dividends	233,200
Chief Operating Officer [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	14,850
Current Employees [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	550
Director [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	53,900
Current COO, Employees and Directors [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	69,300
Former Chief Executive Officer [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	20,350
Other Employees [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	12,100
Former Director [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	8,250
Former Board Members and Employees [Member]
Note 13 - Incentive Compensation Plan: (Details) - Vested Maximum Benefit Payable to Ex-Employees [Line Items]
Number of units under Incentive Compensation Plan	40,700

Note_14_Retention_Bonus_Plan_D

Note 14 - Retention Bonus Plan: (Details)	31-May-14
Note 14 - Retention Bonus Plan: (Details) [Line Items]
Bonus Pool Funding As Percentage Of Appraised Value Of Contributed Properties	5.00%
Retention Bonus Plan Gross Selling Price Requirement Percentage	100.00%
Additional Bonus Pool Funding Percentage Of Gross Sales Price On First Ten Percent Off 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%
AdditionalBonusPoolFundingAdditional Percentage Of Gross Sales Price On Property Appreciation	2.00%
Board of Directors Chairman [Member]
Note 14 - Retention Bonus Plan: (Details) [Line Items]
Bonus Pool Distribution Proportions	15.00%
Directors Other Than Chairman [Member]
Note 14 - Retention Bonus Plan: (Details) [Line Items]
Bonus Pool Distribution Proportions	50.00%
Other 5 Directors [Member]
Note 14 - Retention Bonus Plan: (Details) [Line Items]
Bonus Pool Distribution Proportions	10.00%
Executives And Employees [Member]
Note 14 - Retention Bonus Plan: (Details) [Line Items]
Bonus Pool Distribution Proportions	35.00%

Note_16_Commitments_and_Contin2

Note 16 - Commitments and Contingencies: (Details) (USD $)	Dec. 31, 2014	31-May-14	Mar. 31, 2015
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Supplemental Unemployment Benefits, Severance Benefits (in Dollars)	$676,000
Bonus Pool Funding As Percentage Of Appraised Value Of Contributed Properties		5.00%
Retention Bonus Plan Gross Selling Price Requirement Percentage		100.00%
Additional Bonus Pool Funding Percentage Of Gross Sales Price On First Ten Percent Off 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%
AdditionalBonusPoolFundingAdditional Percentage Of Gross Sales Price On Property Appreciation		2.00%
CEO and President Each [Member]
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Other Commitment (in Dollars)			125,000
Other Employees [Member]
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Supplemental Unemployment Benefits, Severance Benefits (in Dollars)			$76,000
Board of Directors Chairman [Member]
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Bonus Pool Distribution Proportions		15.00%
Directors Other Than Chairman [Member]
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Bonus Pool Distribution Proportions		50.00%
Other 5 Directors [Member]
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Bonus Pool Distribution Proportions		10.00%
Executives And Employees [Member]
Note 16 - Commitments and Contingencies: (Details) [Line Items]
Bonus Pool Distribution Proportions		35.00%

Note_16_Commitments_and_Contin3

Note 16 - Commitments and Contingencies: (Details) - Lease Revenue Commitments (USD $)	Mar. 31, 2015
Lease Revenue Commitments [Abstract]
2016	$3,864,000
2017	2,884,000
2018	2,285,000
2019	2,071,000
2020	1,464,000
Thereafter	3,311,000
	$15,879,000

Note_16_Commitments_and_Contin4

Note 16 - Commitments and Contingencies: (Details) - Other Commitments and Contingencies (USD $)	Mar. 31, 2015
In Millions, unless otherwise specified
Other Commitments [Line Items]
Contractual obligation	$909,200
Incentive Compensation Plan [Member]
Other Commitments [Line Items]
Contractual obligation	233,200
Employment Agreement With Severance Contingencies [Member]
Other Commitments [Line Items]
Contractual obligation	600,000
Other Employee Severance Commitment Contingencies [Member]
Other Commitments [Line Items]
Contractual obligation	$76,000

Note_18_Fair_Value_of_Financia2

Note 18 - Fair Value of Financial Instruments: (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Mar. 18, 2011	Dec. 31, 2010
Note 18 - Fair Value of Financial Instruments: (Details) [Line Items]
Proceeds from Principal Repayments on Loans and Leases Held-for-investment	$212,515
Asset Impairment Charges	0	0	200,000
Equity Method Investments	0		0
Deferred Tax Liabilities, Net	0		0
Taxes Payable, Current	772,100		750,000
Income Tax Expense (Benefit)	22,100
The Grove, Florida [Member] | Fair Value, Inputs, Level 3 [Member]
Note 18 - Fair Value of Financial Instruments: (Details) [Line Items]
Equity Method Investments, Fair Value Disclosure			0
The Grove, Florida [Member]
Note 18 - Fair Value of Financial Instruments: (Details) [Line Items]
Equity Method Investment, Ownership Percentage	20.00%		10.12%	9.32%		9.99%
Area of Land (in Square Meters)	3,700
Loans Payable					37,000,000
Interest Payable					8,000,000
Equity Method Investments	0		0
Deferred Tax Liabilities, Net			1,315,000
Taxes Payable, Current			618,000
Income Tax Expense (Benefit)			($697,000)

Note_18_Fair_Value_of_Financia3

Note 18 - Fair Value of Financial Instruments: (Details) - Carrying Value and Fair Value of Financial Assets and Liabilities (USD $)	Mar. 31, 2015		Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Marketable Securities	$5,778,686	[1]	$5,950,098
Investment in Marketable Securities	5,778,686	[2]	5,950,098	[2]
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in Marketable Securities	$5,778,686	[1]	$5,950,098
[1]	The Company received $212,515 in principal repayments during the first three-months of 2015.
[2]	*The Company received $212,515 in principal repayments during the three months ended March 31, 2015

Note_18_Fair_Value_of_Financia4

Note 18 - Fair Value of Financial Instruments: (Details) - Assets and Liabilities from Continuing Operations at Fair Value Recurring and Non-Recurring (Impaired Real Estate Assets [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	$6,157,559	$6,146,952
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	$6,157,559	$6,146,952

Note_19_Impairment_of_Real_Est1

Note 19 - Impairment of Real Estate Investments: (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges	$0	$0	$200,000

Note_20_Accumulated_Other_Comp2

Note 20 - Accumulated Other Comprehensive Income: (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Disclosure Text Block [Abstract]
Accumulated Other Comprehensive Income (Loss), Net of Tax	($592,579)	($633,682)

Note_20_Accumulated_Other_Comp3

Note 20 - Accumulated Other Comprehensive Income: (Details) - Accumulated Other Comprehensive Income (USD $)	Mar. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income [Abstract]
Unrecorded gain on investments	$59,814	$18,711
Unrecorded loss on pension	-652,393	-652,393
Accumulated other comprehensive loss	($592,579)	($633,682)