Adam Neumann is asking $37M for Gramercy Park triplex

Former WeWork CEO has been offloading properties since leaving the company he founded

TRD NEW YORK /
Feb.February 14, 2020 04:30 PM
Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

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

Former WeWork CEO Adam Neumann has listed his six-bedroom triplex penthouse for $37.5 million.

The listing price is $2 million more than what Neumann paid for the 7,880-square-foot luxury condominium at 78 Irving Place in 2017, when his wealth ballooned with WeWork’s success.

It is among several pieces of real estate he is looking to offload since the company he founded imploded last year. On Thursday, Bloomberg reported that Neumann had sold his majority stake in a San Jose real estate portfolio where plans previously called for WeWork to lease space there.

After WeWork encountered widespread governance issues and a failed attempt to go public, scrutiny turned toward Neumann, who was eventually ousted from the company in October. He was paid a $180 million consulting fee by SoftBank, WeWork’s largest investor, and still holds shares in the company valued close to $1 billion.

Neumann still owns a portfolio of luxury properties across the country, from the Bay Area to the Hamptons. It was reported last year that Neumann was denied by several co-op boards in the city following publicity about WeWork’s implosion.

The Gramercy Park triplex features a sweeping spiral staircase, chandeliers and ultra-modern finishes, according to a listing on Compass’s website. The 14-unit building was converted from rentals to condos in 2016 by Silverstone Property Group.

Bloomberg first reported that Neumann was looking to sell the apartment in December. The listing went live on Thursday. Compass broker Nick Gavin is marketing the property. He did not respond to a request for comment.


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