We Work’s Adam Neumann Relists Gramercy Park Penthouse, Asks $32 Million

Adam Neumann is still looking for a buyer for his Gramercy Park penthouse.

The We Work co-founder and former CEO has relisted his six-bedroom triplex at 78 Irving Place.  As per the Real Deal, the luxury property is back on the market, asking $32 million, as per the StreetEasy listing.  The home is listed with agent Tal Alexander of Official Real Estate.  Alexander did not respond to the Real Deal’s request for comment.  

Neumann had previously listed the home for $37.5 million in 2020, and had been trying to sell the home off-market even before that.  The 44-year-old investor and entrepreneur had purchased the duplex pad together with another unit on the floor below in 2017 for $27.5 million.  He had joined the units together to create his current 7,880-square-foot home. He had also purchased two more apartments on the first floor for $7.2 million at that time.

The white-glove doorman building, located in Gramercy Park Historic District, offers only six residences at the rare pre-war condominium conversion.  The building, built in 1920, was converted in 2016 by developer Silverstone Property Group from a 14-unit rental building, into condos. The penthouse takes up three stories at the seven-story building.  The apartment has keyed elevator access and the entrance boasts white wood-paneled walls decorated with ornate plaster ceiling rosettes, imported finishes from France, and impressive chandeliers from John Rosselli & Associates. The home features custom windows, a spiral staircase with a skylight, individually controlled central air, and a private 955-square-foot roof terrace.  The immaculate home boasts 6-bedroom, 5.5 bathrooms, city views, state-of-the-art appliances, hardwood and marble floors, and designs by Pietro Cicognani of Cicognani Kalla and interiors by Windsor Smith.

Since his exit from We Work, Neumann had focused his efforts on a multi-family real estate venture. The enterprise, named Flow, operates as a property manager for other owners, per previous reports from the Wall Street Journal.  Venture capital firm Andreessen Horowitz has invested $350 million into the venture, making it the firm’s largest single investment.  As previously reported by the Jewish Voice, Neumann’s residential aspirations focus primarily on traditional luxury apartment buildings loaded with amenities in large U.S. cities including Miami, Atlanta, Nashville, Tenn., and Fort Lauderdale, Fla.,  and targeting young professional for his rentals.  As of May 2023, Mr. Neumann’s net worth is listed at $2.2 billion, per Forbes.