By Benyamin Davidsons
WeWork co-founder, Adam Neumann has sold a townhouse in New York City’s Greenwich Village for $13.65 million, as per the Wall Street Journal. The buyer’s identity has not been disclosed.
The single-family home at 41 West 11th Street, bordering Fifth Avenue, is close to 23 feet wide and has wood-burning fireplaces and a lushly landscaped backyard garden, as per old marketing materials from before Mr. Neumann bought the home. The Greek Revival-style house was built in 1847, and lists six bedrooms and five and a half bathrooms. “The parlor floor is elegant with high ceilings, plaster rosettes, a marble-mantled fireplace as well as full-height windows. The garden floor below is open with kitchen, dining room and sitting area; all with access to the gardens in the front and rear,” reads an outdated Corcoran listing for the townhouse. “Additional features include 7 wood-burning fireplaces, original hardwood floors and a sunroom overlooking the gardens.” Danny Davis from the Corcoran Group represented the seller. He declined to comment.
Neumann and his wife, Rebekah Paltrow Neumann, had purchased the property in 2013 for $10.5 million. In 2014, the Neumanns had undertaken a multimillion-dollar renovation for the home. Details of the renovation have not been shared.
As CEO of the office sharing giant, Neumann had bolstered his personal portfolio of luxury homes. He purchased homes across the United States, including in Gramercy, the Hamptons, Westchester and California, as per MSN.
Things went sour for the WeWorks exec, though, with the failed Initial Public Offering and devaluation of the company. In 2019, Neumann was ousted from his company and blamed for a reckless spending culture and overhyped valuation. His exit agreement, however, gave him a stock award worth roughly $245 million. At that time, he added two Miami Beach properties to his portfolio for a combined price of $44 million.
Since his departure from WeWork, though, Neumann has been trying to keep a low profile and has been unloading some of his properties. In April 2021, he sold his Northern California home for $22.4 million, which was about $1 million more than he paid for the property in 2018. He and his wife also sold their Westchester County estate for $3.39 million, as well as their farmhouse in Southampton for $1.25 million.
Mr. Neumann did not respond to the WSJ’s requests for comment.
