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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">THE SECURITIES AND EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">--------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;December
20, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">--------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">GYRODYNE COMPANY OF AMERICA, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">---------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of Registrant as Specified in its
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>New York</U></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>000-01684</U></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>11-1688021</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(State or other jurisdiction</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Commission File</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">of incorporation)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1 FLOWERFIELD, Suite 24</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ST. JAMES, NEW YORK 11780</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-------------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">offices) (Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(631) 584-5400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-------------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">including area code</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">N/A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-------------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form&nbsp;8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
230.425)</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
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<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange
Act (17&nbsp;CFR 240.14d-2(b))</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange
Act (17&nbsp;CFR 240.13e-4(c))</TD>
</TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 8.01 Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On December 20, 2013, Gyrodyne Company of America, Inc. (&ldquo;Gyrodyne&rdquo;)
issued a press release announcing (i) the final details of the previously announced special dividend of $98,685,000 or $66.56 per
share of common stock, payable on December 30, 2013, and (ii) that its Board of Directors on December 20, 2013 declared an additional
special dividend of $16,150,000 payable on January 31, 2014 in the form of dividend notes to Gyrodyne shareholders as of December
31, 2013, in order to satisfy applicable real estate investment trust (&ldquo;REIT&rdquo;) distribution requirements with respect
to approximately $17 million in REIT income for 2013. A copy of the press release is attached as Exhibit 99.1 and incorporated
herein by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(d) Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Exhibit No.</U></B></FONT></TD>
    <TD STYLE="width: 85%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Document</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 0.7pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.7pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release, dated December 20, 2013, announcing final details of special dividends.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Forward-Looking Statement Safe Harbor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The statements made in this Form&nbsp;8-K that are not historical
facts constitute &ldquo;forward-looking information&rdquo; within the meaning of the Private Securities Litigation Reform Act of
1995, and Section&nbsp;27A of the Securities Act of 1933 and Section&nbsp;21E of the Securities Exchange Act of 1934, both as amended,
which can be identified by the use of forward-looking terminology such&nbsp;as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;expects,&rdquo; &ldquo;projects,&rdquo; &ldquo;estimates,&rdquo; &ldquo;believes,&rdquo; &ldquo;seeks,&rdquo; &ldquo;could,&rdquo;
&ldquo;should,&rdquo; or &ldquo;continue,&rdquo; the negative thereof, other variations or comparable terminology as well as statements
regarding the evaluation of strategic alternatives.&nbsp;&nbsp;Important factors, including certain risks and uncertainties, with
respect to such forward-looking statements that could cause actual results to differ materially from those reflected in such forward-looking
statements include, but are not limited to, risks and uncertainties relating to the process of exploring strategic alternatives,
risks associated with Gyrodyne&rsquo;s ability to implement the tax liquidation, plan of liquidation or the plan of merger, the
risk that the proceeds from the sale of Gyrodyne&rsquo;s assets may be substantially below Gyrodyne&rsquo;s estimates, the risk
that the proceeds from the sale of our assets may not be sufficient to satisfy Gyrodyne&rsquo;s obligations to its current and
future creditors, the risk of shareholder litigation against the tax litigation, the plan of liquidation or the plan of merger
and other unforeseeable expenses related to the proposed liquidation, the tax treatment of condemnation proceeds, the effect of
economic and business conditions, including risks inherent in the real estate markets of Suffolk and Westchester Counties in New
York, Palm Beach County in Florida and Fairfax County in Virginia, risks and uncertainties relating to developing Gyrodyne's undeveloped
property in St. James, New York and other risks detailed from time to time in Gyrodyne's SEC reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 6pt"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">GYRODYNE COMPANY OF AMERICA, INC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Frederick C. Braun III</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Frederick C. Braun III<BR>President and Chief Executive Officer</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">Date: December 20, 2013</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>

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{"company-data": {"conformed-name": "GYRODYNE CO OF AMERICA INC", "cik": "0000044689", "assigned-sic": "6512", "irs-number": "111688021", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-01684", "film-number": "131292409"}, "business-address": {"street1": "1 FLOWERFIELD", "street2": "SUITE 24", "city": "ST JAMES", "state": "NY", "zip": "11780", "phone": "6315845400"}, "mail-address": {"street1": "1 FLOWERFIELD", "street2": "SUITE 24", "city": "ST JAMES", "state": "NY", "zip": "11780"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
--------------------
Date of Report (Date of earliest event reported):  December
20, 2013
--------------------
GYRODYNE COMPANY OF AMERICA, INC.
---------------------
(Exact name of Registrant as Specified in its
Charter)
New York
000-01684
11-1688021
(State or other jurisdiction
(Commission File
(I.R.S. Employer
of incorporation)
Number)
Identification No.)
1 FLOWERFIELD, Suite 24
ST. JAMES, NEW YORK 11780
-------------------------
(Address of principal executive
offices) (Zip Code)
(631) 584-5400
-------------------------
Registrant's telephone number,
including area code
N/A
-------------------------
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On December 20, 2013, Gyrodyne Company of America, Inc. ("Gyrodyne")
issued a press release announcing (i) the final details of the previously announced special dividend of $98,685,000 or $66.56 per
share of common stock, payable on December 30, 2013, and (ii) that its Board of Directors on December 20, 2013 declared an additional
special dividend of $16,150,000 payable on January 31, 2014 in the form of dividend notes to Gyrodyne shareholders as of December
31, 2013, in order to satisfy applicable real estate investment trust ("REIT") distribution requirements with respect
to approximately $17 million in REIT income for 2013. A copy of the press release is attached as Exhibit 99.1 and incorporated
herein by this reference.
Item 9.01  Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Document
99.1
Press Release, dated December 20, 2013, announcing final details of special dividends.
Forward-Looking Statement Safe Harbor
The statements made in this Form 8-K that are not historical
facts constitute "forward-looking information" within the meaning of the Private Securities Litigation Reform Act of
1995, and Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended,
which can be identified by the use of forward-looking terminology such as "may," "will," "anticipates,"
"expects," "projects," "estimates," "believes," "seeks," "could,"
"should," or "continue," the negative thereof, other variations or comparable terminology as well as statements
regarding the evaluation of strategic alternatives.  Important factors, including certain risks and uncertainties, with
respect to such forward-looking statements that could cause actual results to differ materially from those reflected in such forward-looking
statements include, but are not limited to, risks and uncertainties relating to the process of exploring strategic alternatives,
risks associated with Gyrodyne's ability to implement the tax liquidation, plan of liquidation or the plan of merger, the
risk that the proceeds from the sale of Gyrodyne's assets may be substantially below Gyrodyne's estimates, the risk
that the proceeds from the sale of our assets may not be sufficient to satisfy Gyrodyne's obligations to its current and
future creditors, the risk of shareholder litigation against the tax litigation, the plan of liquidation or the plan of merger
and other unforeseeable expenses related to the proposed liquidation, the tax treatment of condemnation proceeds, the effect of
economic and business conditions, including risks inherent in the real estate markets of Suffolk and Westchester Counties in New
York, Palm Beach County in Florida and Fairfax County in Virginia, risks and uncertainties relating to developing Gyrodyne's undeveloped
property in St. James, New York and other risks detailed from time to time in Gyrodyne's SEC reports.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
GYRODYNE COMPANY OF AMERICA, INC.
By:
/s/ Frederick C. Braun III
Frederick C. Braun III
President and Chief Executive Officer
Date: December 20, 2013