Investor Alert

Aug. 21, 2020, 10:28 a.m. EDT

Ex-WeWork CEO Adam Neumann Sells 5.6-Acre New York Estate for $3.4 Million

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Adam Neumann has offloaded a residential property in Westchester County, New York, for $3.4 million, as part of his large real estate sell-off after resigning from the coworking space firm WeWork last September.

Mr. Neumann , 41, and his wife, Rebekah Paltrow Neumann , 42,put the 5.61-acre estate on the market for $3.395 million at the end of May. It sold for the asking price on July 27, according to property records filed last week.

The Neumanns bought the property in 2017 via a limited liability company for $3.225 million, property records show.

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The country retreat, marketed as “the ultimate destination designed for entertaining and fun,” has a 6,000-square-foot residence with five bedrooms and five bathrooms, an outdoor pool with a spa and a water slide, a sport court, a covered terrace with fireplace, according to the listing with Mindy Weil of Ginnel Real Estate.

The interior of the house features white floors, glossy walls, high ceilings, exposed beams and stone fireplaces, according to the listing.

Ms. Weil did not immediately respond to a request for comment.

Mr. Neumann, who co-founded WeWork with his wife and Miguel McKelvey in 2010 and served as its CEO, resigned in September 2019 amid growing investor concerns over its corporate governance, valuation, and business outlook, which also led to its cancellation of public offering plans.

Mr. Neumann has accumulated several residential properties valued at an estimated $90 million over the years. He has been busy selling off some of the properties starting this year.

In February, he put his  triplex residence  in Manhattan’s Gramercy neighborhood on the market for $37.5 million, which has yet to find a buyer. In March, he sold a property in the Hamptons, New York, for $1.25 million. On the West Coast, Mr. Neumann listed his lavish  eco-friendly compound  north of San Francisco for $27.5 million earlier this month.

He still owns a townhouse in Manhattan’s Greenwich Village, which he and his wife bought in 2013 for $10.3 million. They also have a 60-acre farm in Westchester County, which they bought in 2016 for $15 million, according to property records.

The Neumanns could not immediately be reached for comment.

This article originally appeared on .

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