Adam Neumann looks to sell Gramercy penthouse

Neumann bought four units at 78 Irving Place for $35M in 2017

New York /
Dec.December 10, 2019 09:18 AM
Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

The price could come out to five “We” trademarks.

Former WeWork CEO Adam Neumann is looking to sell his triplex penthouse at 78 Irving Place, Bloomberg reported. The former SoftBank darling is working with Nick Gavin of SoftBank-backed Compass to find a buyer, sources told the outlet.

Two years before the co-working firm’s botched IPO attempt and Neumann’s billion-dollar ouster, the charismatic businessman picked up four units at the seven-story property for $35 million, The Real Deal first reported. The duplex penthouse and the floor below it, which have since been combined, went for a total of $27.5 million.

The remaining units, two first-floor apartments which cost Neumann $7.2 million, will likely be excluded from the deal. This September, WeWork’s IPO filing revealed that the company had paid him $5.9 million for rights to the word “We,” which he ultimately had to give back.

Neumann and his wife, Rebekah Paltrow Neumann, also own a $10.5 million Greenwich Village townhouse and “at least two” homes in the Hamptons, as well as an 11-acre property 15 miles north of San Francisco.

The former 14-unit rental building was converted to condos in 2016 by Silverstone Property Group, a real estate investment company formed by Martin Nussbaum, now of Slate Property Group, and Josh Zegen and Brian Shatz, now of Madison Realty Capital. [Bloomberg] — Kevin Sun


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