Item 8.01. Other Events.

Gyrodyne Company of America, Inc. (the "Company") today received an Order from the Court of Claims of the State of New York, dated February 25, 2009, directing that the trial in the Company's case for just compensation from the State University of New York at Stony Brook resulting from the condemnation of 245.5 acres of the Company's Flowerfield property shall commence on August 3, 2009. A copy of the Order is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description
99.1 Order of the Court of Claims, dated February 25, 2009.

---