Adam Neumann Looks to Sell Gramercy Park Penthouse Again

8 minutes read

Nothing has worked in Adam Neumann’s yearslong attempt to sell his penthouse triplex in Gramercy Park. So he’s reworking the offering.

The WeWork founder is aiming to offload his unit at 78 Irving Place for $22.75 million, the New York Post reported. That’s a lower asking price than his previous listings of the same property, as a guest apartment owned by Neumann is not part of the latest offering.

Neumann and his wife, Rebekah, intend to keep the 1,200-square-foot guest apartment for themselves, either to use as a guest suite or a New York base. What’s up for grabs instead is a three-story, 6,630-square-foot penthouse with five bedrooms, four bathrooms and two powder rooms; the listing works out to $3,431 per square foot.

Douglas Elliman’s Madeline Hult Elghanayan and Compass’ Jason Haber share the listing. Brokers who previously tried their hand at selling the pad include Douglas Elliman’s Eleonora Srugo and Jordyn Taylor Braff, as well as Tal Alexander, while the disgraced broker was still with Official Partners.

Neumann’s attempts to sell at 78 Irving Place date back to 2019, when he tried to quietly offload the property 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.

In 2023, Neumann listed the unit for $32 million, but included a duplex that was struck from the succeeding offering. Last year, he relisted the property for $25 million.

The home features a roof terrace with a barbecue area, a skylit spiral staircase and chandeliers. Silverstone Property Group converted the 14-unit property from rentals to condos in 2016.

Neumann is hard at work on his next venture, Flow, which is backed by Silicon Valley-based venture giant Andreessen Horowitz and has residential projects and towers in Miami, Fort Lauderdale and the capital of Saudi Arabia, Riyadh.

In April, Adam Neumann scored a $155 million loan for his under-construction Flow House condos in downtown Miami, securing the debt from Invictus Real Estate Partners and Integritas Capital. Neumann is planning a 40-story, 466-unit property at 697 North Miami Avenue in Miami Worldcenter, a 27-acre mega development.

— Holden Walter-Warner