Co-Working Company NeueHouse Abruptly Shuts Down

A co-working firm based in New York that’s touted big-name Hollywood members is suddenly ending operations on Friday as bankruptcy nears.

NeueHouse, a co-working company and members club geared towards the creative communities in New York and Los Angeles, is shutting down, according to the Hollywood Reporter. Members learned of the decision on Wednesday, two days before the planned shutdown.

Following its closure, the company intends to file for Chapter 7 bankruptcy protection. That could lead to a liquidation of assets.

“Although NeueHouse has created an extremely valuable business that is prized by members and event hosts, unfortunately, it has been burdened by legacy liabilities,” the company informed members, without specifying those liabilities.

NeueHouse only had three locations — one in Manhattan, one in Hollywood and one in Venice Beach — but often punched above its weight, hosting premieres and events associated with the biggest names in the movie and TV industries.

The Hollywood location was at the original CBS studios, while the Venice Beach location was right off the water. In Manhattan, the company’s spaces were at 110 East 25th Street in the Flatiron District, a building managed and owned by William Equities.

“As building ownership, our priority is to support the preservation of this environment, minimize disruption, and help ensure a smooth experience for members, guests, on-site management and employees,” a spokesperson for Williams Equities said in a statement. It occupied roughly 70 percent of the building.

NeueHouse was an upscale option in the co-working field, founded by Joshua Abram, Alan Murray and James O’Reilly. The flagship location in Manhattan spanned 50,000 square feet and commanded $600 a month for the basic package; members of the club included the likes of Meg Ryan and Salman Rushdie.

The founders sold a controlling interest in the business in 2017. In 2018, investors raised $30 million for the company and installed former private equity and hotel executive Josh Wyatt as chief executive officer, according to the Wall Street Journal.

Abram died a month ago, according to an obituary that appeared in the New York Times this week.

— Holden Walter-Warner