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WeWork’s Todd Bassen jumping ship after 3 months

Co-head of real estate said job "wasn't what he expected"

From left: Todd Bassen and WeWork's Miguel McKelvey and Adam Neumann
From left: Todd Bassen and WeWork's Miguel McKelvey and Adam Neumann

Todd Bassen will no longer be coworking at WeWork.

Bassen, one of two real estate heads at the company, announced his departure Thursday after just three months at the company.

“The job wasn’t what he expected it to be,” a source told the New York Observer, “But they parted ways amicably.”

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Bassen previously worked as a senior director of acquisitions at Invesco Real Estate, where he oversaw the $175 million purchase of 30-30 47th Avenue in Queens, known as the Factory Building.

WeWork, which operates coworking offices spaces through the city, was valued at $10 billion in its June fundraising round. Investors in the company include JPMorgan Chase and the Harvard Management Company.

The Real Deal profiled the company in depth in its June 2015 issue.

A spokesperson for WeWork declined the Observer’s request for comment. [NYO] – Ariel Stulberg

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