WeWork cofounder Adam Neumann is reportedly spending $44 million on 2 Miami Beach properties, months after selling his San Francisco 'Guitar House' compound
Former WeWork CEO Adam Neumann. Michael Kovac / Getty Images for WeWork
Adam Neumann is buying two properties in Miami Beach for $ 44 million, the seller told the WSJ.
The WeWork co-founder will have over 50,000 square feet of land and multiple boat docks, the seller said.
Neumann's purchase comes months after he sold his property in the San Francisco Bay Area.
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WeWork co-founder and former CEO Adam Neumann is expected to buy two properties for $ 44 million in Miami Beach's Bal Harbor marina, the Wall Street Journal first reported Wednesday.
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The adjacent lots cover 50,000 square feet, including waterfront space, seller Joseph Imbesi told the Journal.
"He has a clear view of the Bal Harbor marina," said Imbesi.
A 14,500-square-foot home was under construction on one of the lots, Imbesi said. It also has a protected outdoor area.
Nothing had been built on the other property, said the local investor. Both of the Neumann properties, which are not currently available for sale or advertised, have around 360 feet of water frontage, Imbesi told the Journal.
Imbesi also recently listed a separate two-acre lot in the Bal Harbor Yacht Club marina for $ 65 million, the Journal reported.
Neumann will get numerous berths in the marina if he buys the property, said Imbesi.
Imbesi bought the adjoining lots in the late 1990s as part of a major purchase of more than 10 acres in the marina for $ 19 million, the Journal said.
Imbesi said he and his son Tony Imbesi, who is developing the website, gave Neumann a million dollars for the unfinished construction.
The Journal reported that Douglas Elliman's Brett Harris, representing the buyer, was not immediately available for comment.
Neumann sold his home in the San Francisco Bay Area for $ 22.4 million in April, even though the house was listed for $ 27.5 million in August. He and his wife Rebekah Neumann have spent more than $ 80 million on at least five homes but moved to Israel to escape the media, insider Katie Warren reported in April.
WeWork gave Neumann $ 245 million in stock and $ 200 million in cash as part of an exit package in February, two years after he was ousted from the office group when their IPO plans failed.
His payout was part of a settlement agreement with SoftBank that saved the company from bankruptcy in 2019.
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