Published by The Real Deal South Florida, June 17, 2021
So long, Bay Area: Adam Neumann is headed to South Florida.
The WeWork co-founder and ex-CEO inked an off-market deal for two properties on the Bal Harbour Marina, just north of Miami Beach, Florida for $44 million, the Wall Street Journal reported. Local investor Joseph Imbesi is the seller behind the off-market deal, which includes two parcels spanning 50,000 square feet, 360 feet of waterfront and multiple slips in the marina, Imbesi told the publication. One of the parcels is a 14,500-square-foot house that is still under construction, the other is an empty lot, the publication reported, adding that the seller gave Neumann a $1 million allowance for the unfinished construction.
The purchase comes roughly two months after Neumann sold his northern California estate for $22.4 million.
Brett Harris of Douglas Elliman represented the buyer. Imbesi was represented by his son, Douglas Elliman agent Tony Imbesi.
Although Neumann has said he’d like to live forever, he has at least one lifetime’s worth of cash to burn. In May, the former WeWork chief was given $245 million worth of stock as part of a renegotiation of his exit package from the company.
[WSJ] — Cordilia James
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