- WeWork cofounder Adam Neumann just sold his San Francisco Bay Area home for $22.4 million, per the New York Post.
- He listed the home for $27.5 million in August 2020 after moving to Israel with his wife.
- The 10-acre compound includes a guest house, a pool, a greenhouse, a chicken coop, and geothermal systems.
- See more stories on Insider’s business page.
Adam Neumann just sold his compound in Corte Madera in Northern California for $22.4 million, the New York Post reports.
The WeWork cofounder listed the home in August 2020 for $27.5 million.
Compass, the brokerage that held the listing, did not immediately respond to Insider’s request for this story.
Neumann has been selling off millions of dollars of his real-estate portfolio over the past couple years.
Neumann, who cofounded WeWork in 2010 with his wife, Rebekah Neumann, and Miguel McKelvey, was ousted from the company in 2019 after its failed IPO.
Neumann was worth as much as $14 billion before the fiasco, but his fortune has since shrunk dramatically. He’s now worth an estimated $750 million, according to Forbes.
After founding WeWork in 2010, Neumann and Rebekah spent more than $80 million on at least five homes. But after moving to Israel to escape media scrutiny, they’ve been trying to offload them one by one.
In March 2020, they sold their house in the Hamptons for $1.25 million after owning it for seven years. And they’ve been trying to sell multiple units in their New York City townhouse on the market for a combined $37.5 million since last February.
Their latest property to sell sits on more than 10 acres on a hilltop in Corte Madera that's just minutes from the Golden Gate Bridge, according to the listing.
Corte Madera, a town of just under 10,000 people, is about 30 minutes by car from San Francisco.
In 2018, the median household income in Corte Madera was $147,587 — more than double the national median of $60,293, according to data from the US Census Bureau.
The home, known as the "Guitar House," sits on land that was once owned by legendary rock and roll concert promoter Bill Graham.
The property was later renovated by eco-architect Sim Van der Ryn.
The compound has a gated entry with a private driveway.
Neumann bought the home in 2018 for $21.4 million.
Source: New York Post
The main house has more than 10,000 square feet of living space, and it weaves together the indoor and outdoor spaces.
The gourmet chef's kitchen comes with two butler pantries.
The living room has its own bar area.
The expansive master suite comes with a fireplace and a private patio.
The attached master bathroom includes dual dressing areas …
… and a soaking tub with panoramic views of the surrounding landscape, as well as a walk-in, glass-walled shower.
There's also a spacious master office and three guest bedrooms.
The home was designed with abundant space for entertaining, including a billiards room and the home theater.
The aptly named Guitar House also has a professional-grade music room that's shaped like a guitar.
The California compound's outdoor space is just as luxurious as its interior.
Next to the outdoor swimming pool is a pool cabana with its own kitchen and half bathroom.
Then there's the guest house, which comes with two bedrooms, two bathrooms, and a living area.
Neumann’s compound also includes an indoor regulation-size racquetball court, a yoga and fitness center, and a wine cellar.
According to the listing, the new owner of the Guitar House can live "off the grid" thanks to the compound's gardens, personal water well, and solar and geothermal systems.
And don’t forget the greenhouse, the vegetable and herb gardens, the chicken coop, and last but not least, the bee harvesting farm.
Source: Read Full Article