Circular is a vertically integrated regenerative hospitality platform anchored on a 400+ acre working farm in the Catskills and a two-location restaurant brand in the Hudson Valley. Two operating assets sit under a single holding company: Livingston Farm, the 121-acre agritourism property in Livingston Manor, NY (Sullivan County) — combining a working regenerative farm, a farmhouse rental in place, and an entitled program for a lodge-style resort and a small collection of ownership residences; and Flybrook, a two-location restaurant brand from Executive Chef Roxanne Spruance — a full-service New American room in downtown Armonk (Westchester) on a fully entitled site currently under design, and a farm-based gathering place at Livingston Farm.
The Platform is the roll-up: land, F&B, and lodging on one balance sheet. Guests eat at Flybrook Armonk, drive up for a meal from the same kitchen at the farm, and — over the next 36 months — stay overnight in the lodge or buy a residence on the same land whose produce is on their plate. Farm feeds restaurant, restaurant fills the lodge, lodge sells the residence — the loop is the business model.
We underwrite the Catskills / Hudson Valley corridor as one of the most durable second-home and weekend-leisure markets in the Northeast: 1–2 hours from Manhattan, with a luxury flagship already in the ground at Auberge Wildflower Farms (Gardiner, NY — named the #1 Resort in New York by Travel + Leisure 2025) and an announced pipeline that includes 1 Hotel & Homes Hudson Valley, Soho Farmhouse Hudson Valley, and Six Senses Hudson Valley. The sophisticated hospitality capital underwriting this corridor is a strong tailwind for the Platform, at a Sullivan County cost basis most operators cannot replicate today.
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