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 13, 2020 06:41 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.


Related Articles

arrow_forward_ios
Jeffrey Epstein and his two properties to recently hit market, 9 East 71st Street in New York and 358 El Brillo Way in West Palm Beach (Getty, Google Maps, StreetEasy and Corcoran Group) 

Brokers vied for Epstein listings. Can they sell them?

Brokers vied for Epstein listings. Can they sell them?
Kimberly Ross (Credit: Chubb)

WeWork taps oil exec as new CFO

WeWork taps oil exec as new CFO
Former WeWork CEO Adam Neumann (Credit: Getty Images, iStock)

WeWork founder scrambled for $100M loan before $1.7B bailout

WeWork founder scrambled for $100M loan before $1.7B bailout
SoftBank to take control of WeWork at less than $8B valuation

SoftBank to take control of WeWork at less than $8B valuation

SoftBank to take control of WeWork at less than $8B valuation
Compass CEO Robert Reffkin and WeWork's Adam Neumann 

Like WeWork, Compass touts tech and culture. Are the companies different enough?

Like WeWork, Compass touts tech and culture. Are the companies different enough?
Marcelo Claure and Softbank CEO Masayoshi Son (left) (Credit: Linkedin, iStock, Pixabay)

SoftBank’s problem solver faces his biggest challenge yet: WeWork

SoftBank’s problem solver faces his biggest challenge yet: WeWork
WeWork co-CEOs Artie Minson, Sebastian Gunningham and Jones CEO Omri Stern (Credit: LinkedIn)

WeWork is investing again with fundraise for proptech

WeWork is investing again with fundraise for proptech
WeWork's Artie Minson, Miguel McKelvey, and Sebastian Gunningham (Credit: Getty Images)

Reassurances, apologies and layoffs: Inside WeWork’s first all-hands post Neumann

Reassurances, apologies and layoffs: Inside WeWork’s first all-hands post Neumann
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...