WeWork founder Adam Neumann sells West Village townhouse for $13.65M

WeWork founder Adam Neumann and his wife Rebekah Paltrow Neumann sold their West Village townhouse at 41 West 11th Street for $13.65 million to Richard Schimel, co-founder of the alternative investment fund Cinctive Capital Management. This is just one of the several residential properties the Neumann’s acquired over the last decade.

The property has 5,411 square feet of built space and 305 square feet of additional air rights for a total buildable of 5,708 square feet according to PincusCo analysis of city data. The sale price per built square foot is $2,522 and the price per buildable square foot is $2,391 per the PincusCo analysis. The Wall Street Journal reported on the sale yesterday.

Reinvent Golden Ridge LLC paid $13.7 million to Adam Neumann and Rebekah Paltrow Neumann through the entity Residence 72 LLC for townhouse (A4) at 41 West 11th Street in West Village, Manhattan.
The deal closed on June 30, 2021 and was recorded on August 11, 2021.

The Neumanns bought the property in 2014 for $10.5 million.
The signatory for Adam Neumann and Rebekah Paltrow Neumann was Mark F. Lapidus. The signatory for Reinvent Golden Ridge LLC was Richard H. Schimel.

The contract date was March 12, 2021. Schimel is co-founder of Cinctive Capital Management.

Within a 400-foot radius of 41 West 11th Street, Pincusco identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on December 23, 2020 for the $1.5 million renovation of 20,184-square-foot R-2 building with 52 residential units at 27 West 11th Street.
Of those seven items, five were sales above $5 million totaling $79.2 million. The most recent of the five was Daniel Humm which bought a co-op unit at 40 5th Avenue for $14.5 million from M. Stevel Ells on June 14, 2021.
One of those seven items was a loan which Marjorie E. Nesbitt borrowed $19 million from Bankunited, N.A. secured by the 27,184-square-foot, 36-unit rental (D3) on 56 West 11th Street and one other property on April 3, 2020.
(The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

Direct link to Acris document. link