Adam Neumann tries again to drop Gramercy Park penthouse

WeWork co-founder lists home for reduced $25M

Adam Neumann Tries Again to Drop Gramercy Park Penthouse

A photo illustration of Adam Neumann along with 78 Irving Place (Getty, Google Maps)

Adam Neumann isn’t getting a second act at WeWork, but he’s hoping his third attempt at selling a penthouse in Gramercy Park will be the charm.

Neumann relisted his triplex at 78 Irving Place for $25 million, the New York Times reported. The listing price breaks down to $3,788 per square foot for the 6,600-square-foot pad.

The three-story home spans the fifth, sixth and seventh floors of the building. The four-bedroom home has a roof terrace with a barbecue area, a skylit spiral staircase and chandeliers. Silverstone Property Group converted the 14-unit property, built in 1920, from rentals to condos in 2016.

Neumann last listed the unit a year ago for $32 million, but included a duplex that was struck this time from the offering.

Neumann also tried to quietly offload the property in 2019 before it was first officially listed for $37.5 million in 2020. Neumann purchased the duplex penthouse and another unit on the floor below in 2017 for $27.5 million.

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Douglas Elliman’s Eleonora Srugo and Jordyn Taylor Braff have the listing, which was formerly held by Official’s Tal Alexander.

Last week, Neumann abandoned his effort to take back control of the bankrupt co-working company where he first made a name for himself. He offered more than $500 million to buy the company, but software firm Yardi Systems struck a deal that would make it WeWork’s majority owner upon its bankruptcy exit. 

Neumann was forced out of WeWork in 2019 after a failed attempt to take the company public. WeWork contended with losses for years and filed for bankruptcy last year. Meanwhile, Neumann launched a new company, Flow, targeting residential apartment management.

Neumann has parted with numerous New York homes in recent years, including ones in Westchester County, the Hamptons and Greenwich Village. He maintains a home in the Hudson Valley, as well as one in Miami.

Holden Walter-Warner