Circular/Assets

Wren of the Woods

A new American restaurant and bar in Armonk, NY — Livingston Farm's culinary outpost and demand engine for the broader platform

Restaurant & HospitalityArmonk, NYRaising
Target IRR
20%
Multiple
3x
Hold Period
7 years
Asset Type
Restaurant & Hospitality
Location
Armonk, NY
Minimum
$100K
Capital Raised13%
$400K raised$3.0M target

Wren of the Woods is a new American restaurant, bar, and local gathering place in Armonk, NY — a supply-constrained, affluent suburban market with close proximity to Livingston Farm's target guest base and the greater New York metro area.

The project reimagines a historic 1820s cottage into a 3,500 SF restaurant with 90 indoor seats and 144 total seats including outdoor dining. The site is fully entitled and construction-ready, enabling a fast path to operations while the Livingston Farm resort undergoes entitlement and development.

Menus center on seasonal, contemporary American cuisine — with ingredients sourced directly from Livingston Farm and other local organic producers. The restaurant is designed for strong throughput and repeat local demand, with an expected average check in the $65–$75 range supporting $4.0M in projected annual revenue at stabilization, generating a 10.1% EBITDA margin.

Beyond its standalone economics, Wren of the Woods is a critical demand and marketing engine for the platform. The restaurant is projected to generate 80,000 marketing impressions per year among a high-value clientele, with anticipated 8% conversion to resort bookings at Livingston Farm — driving meaningful incremental occupancy. The restaurant's estimated impact on the platform is an additional $2M in annual resort EBITDA and creation of approximately $30M in asset value.

Highlights

  • 3,500 SF restaurant and bar in Armonk, NY — fully entitled and construction-ready
  • 90 indoor seats + 144 total capacity including outdoor dining
  • Historic 1820s cottage reimagined by award-winning design team
  • Seasonal New American cuisine sourced from Livingston Farm and local organic producers
  • $65–$75 average check | $4.0M projected stabilized annual revenue
  • 10.1% EBITDA margin at stabilization
  • 80,000 annual marketing impressions driving platform demand
  • Projected 8% conversion to Livingston Farm resort bookings
  • ~$30M in incremental platform asset value at stabilization
  • Generates standalone cash flow and brand awareness during resort entitlement period

Project Timeline

Restaurant — Concept, Design & Engineering
Restaurant — Site Plan Approval
Restaurant — Preview Events
Restaurant — Land Acquisition
Restaurant — Permit Issued
Restaurant — Construction
Restaurant — Certificate of Occupancy
Restaurant — Soft Opening
Restaurant — Grand Opening
Q4 '22Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27Q3 '27Q4 '27TodayPlanned: 2023-01-01 – 2026-05-31 (178w)178wPlanned: 2023-01-01 – 2024-06-01 (74w)74wPlanned: 2024-06-01 – 2025-11-30 (78w)78wPlanned: 2026-04-01 – 2026-04-30 (4w)Planned: 2026-06-01 – 2026-09-30 (17w)17wPlanned: 2026-09-30 – 2027-03-31 (26w)26wPlanned: 2027-04-01 – 2027-05-31 (9w)9wPlanned: 2027-06-01 – 2027-06-30 (4w)Planned: 2027-07-01 – 2027-07-31 (4w)
MilestonePlannedStatus
Restaurant — Concept, Design & EngineeringJan 2023 – May 2026in-progress
Restaurant — Site Plan ApprovalJan 2023 – Jun 2024complete
Restaurant — Preview EventsJun 2024 – Nov 2025in-progress
Restaurant — Land AcquisitionApr 2026 – Apr 2026upcoming
Restaurant — Permit IssuedJun 2026 – Sep 2026upcoming
Restaurant — ConstructionSep 2026 – Mar 2027upcoming
Restaurant — Certificate of OccupancyApr 2027 – May 2027upcoming
Restaurant — Soft OpeningJun 2027 – Jun 2027upcoming
Restaurant — Grand OpeningJul 2027 – Jul 2027upcoming

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