Former WeWork CEO Adam Neumann is working at making his South Florida mansion feel more like home.
A land trust representing the billionaire and his wife, Rebekah, is seeking approval from Bal Harbour’s Architectural Review Board to replace the existing landscaping surrounding their waterfront Bal Harbour estate. The board is set to vote on the plans on Thursday.
The Neumann family, via a hidden trust, paid $43 million for two adjacent properties in Bal Harbour in the summer of 2021. That included the under-construction 12,353-square-foot mansion that was completed a year later, and an adjacent undeveloped lot. Investor and developer Joseph Imbesi sold the properties, which total 1.2 acres.
The landscaping upgrades call for 120 trees, including Christmas palm trees, Japanese blueberry trees and screw pine trees; as well as more than 1,000 shrubs, which include the popular cat palm and clusia plants. The application states that “the previous landscape design approved was extensive, but was tailored to a spec home.” The trust also seeks approval for a nautical-themed fence fronting the marina/dock. Boynton Beach-based Majestic Views Landscape Architects designed the plans.
Neumann is among the many uber wealthy people to move to South Florida or purchase a second home during the pandemic. He’s worth about $2.2 billion, according to Forbes.
Neumann and his family acquired the Bal Harbour properties just months after Neumann sold his northern California estate for $22.4 million. He is still hunting for a buyer for his Gramercy Park triplex in New York City, which returned to the market last summer for $32 million with Official’s Tal Alexander. It’s been on and off the market since 2019. It’s now asking $29.5 million.
Neumann was forced to give up his role in WeWork after the troubled co-working company canceled its planned initial public offering in 2019. But he was able to secure a golden parachute exit package that included a $245 million stock award, $200 million in cash and the refinancing of a $432 million loan.
WeWork filed for Chapter 11 bankruptcy in November.
Read more
Commercial
South Florida
Staying put? Here’s a look at WeWork’s Miami-Dade outposts
Commercial
New York
Adam Neumann sought more space at building he leased to WeWork
Commercial
New York
Inside Adam Neumann’s WeWork-ification of residential real estate