Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Rental property:
Land	$ 1,733,693	$ 1,785,293
Building and improvements	11,175,728	11,205,934
Machinery and equipment	344,733	344,733
	13,254,154	13,335,960
Less accumulated depreciation	4,725,234	4,557,615
	8,528,920	8,778,345
Land held for development:
Land	558,466	558,466
Land development costs	1,895,046	1,823,847
	2,453,512	2,382,313
Total real estate, net	10,982,432	11,160,658
Assets held for sale	22,320,755	22,024,321
Cash and cash equivalents	6,346,983	13,048,827
Investment in marketable securities	4,703,470	3,380,864
Rent receivable, net of allowance for doubtful accounts of approximately $98,000 and $74,000, respectively	58,024	82,663
Deferred rent receivable	51,366	57,369
Prepaid expenses and other assets	578,360	618,279
Prepaid pension costs	593,870	608,807
Total Assets	45,635,260	50,981,788
LIABILITIES:
Accounts payable	696,921	1,603,279
Accrued liabilities	281,664	3,246,403
Deferred rent liability	36,474	21,387
Tenant security deposits payable	268,790	271,658
Liabilities related to assets held for sale	355,111	381,966
Deferred income taxes	1,315,000	1,315,000
Notes payable	16,447,427	16,144,614
Total Liabilities	19,401,387	22,984,307
Commitments and contingencies
EQUITY:
Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding	1,723,888	1,723,888
Additional paid-in capital	17,753,505	17,753,505
Accumulated other comprehensive income	177,107	118,789
Deficit	(9,161,284)	(9,119,471)
	10,493,216	10,476,711
Less cost of shares of common stock held in treasury; 241,208	(1,537,697)	(1,537,697)
Total Gyrodyne Stockholders’ Equity	8,955,519	8,939,014
Non-controlling interest in GSD, LLC	17,278,354	19,058,467
Total equity	26,233,873	27,997,481
Total Liabilities and Equity	$ 45,635,260	$ 50,981,788