(Bloomberg) — WeWork cofounder Adam Neumann is in search of a buyer for his 11-acre property in Corte Madera, California, just after spending $21.4 million for the estate in 2018.
The household, found about 15 miles north of San Francisco, will be stated at $27.5 million, in accordance to a particular person familiar with the matter, who requested anonymity due to the fact the deliberations are personal.
A spokesman for Neumann confirmed the possible sale.
Neumann amassed numerous homes throughout the U.S., like New York, when WeWork was one particular of the most worthwhile startups on the earth. Now he’s entangled in a lawful struggle with SoftBank Group Corp. just after the Japanese conglomerate walked from a offer that would’ve allowed him to offer shares well worth up to $970 million.
Found at 800 Corte Madera Avenue and acknowledged to some as ‘Guitar House’, the mansion is regarded for a living room that’s formed like the musical instrument. Made by architect Sim Van der Ryn, it was previously owned by the late audio promoter Invoice Graham, in accordance to a prior Zillow listing. It has 7 bedrooms, a pool, h2o slide, residence theater, racquetball courtroom and organic and natural gardens and an orchard, the Zillow listing demonstrates.
Browse extra: WeWork’s Adam Neumann Eyes Potential Sale of Gramercy Penthouse
Neumann has also listed one of his Manhattan residences. His wealth — on paper — has taken a battering, in section due to the fact SoftBank in Could wrote down the co-doing work company’s valuation to $2.9 billion, a fraction of the $47 billion it commanded last January.
Neumann’s household office, 166 2nd Money Companies, participated in a fundraising spherical for shared mobility startup GoTo World-wide, TechCrunch noted past 7 days.
(Updates with inquiring cost in second paragraph.)
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