WeWork’s Founder Offers $44M for Two Miami Beach Properties

The off-market deal includes two parcels with 360-feet of water frontage.

Grow Your Business,
Not Your Inbox

Stay informed and join our daily newsletter now!

18, 2021

2 min read

Opinions expressed by Entrepreneur contributors are their own.

WeWork founder Adam Neumann is in contract to buy two properties on Miami Beach’s Bal Harbour Marina.

The two adjacent lots total 50,000 square feet and include multiple boat slips, according to the seller, Joseph Imbesi, a local investor.

One parcel has a 14,500 square foot house that’s under construction. The second parcel is an empty lot.

Related: 5 Amazing Tips on Turning Real Estate Into a Real Fortune

Neumann recently sold his Northern California property for a shocking $22.4 million two months ago.

The two properties have approximately 360 feet of water frontage combined.

Imbesi bought the site as part of a 10.5 acre purchase for $19 million in the late 1990s, the Wall Street Journal reports.

Related: WeWork Is The Latest To Agree To Go Public Via A SPAC Merger

Imbesi says Neuman received a $1 million allowance for unfinished construction and credits his son, Tony, for the development, “He’s got a clear view of the Bal Harbour yacht basin.”

In May, Neumann received a stock award of roughly $245 million, the Wall Street Journal reports.

The revision was part of a 2019 exit package to resolve a dispute between the 41-year old former CEO and SoftBank. 

Mr. Imbesi was represented by his son and an agent at Douglas Elliman at the family’s Flamingo Way Enterprises. The buyer was represented by Brett Harris, also of Douglas Elliman, who couldn’t immediately be reached for comment.

Related: Why Did WeWork’s Adam Neumann “Flee” From New York?

No Comments Yet

Leave a Reply

Your email address will not be published.


The Abundance Pub (TAP) is a media source dedicated to all things positive in the world. Focusing on Health, Wealth and Happiness. The Abundance Pub serves as repository of positive news articles, blogs, Podcasts, Masterclasses and tips to help people live their best life!


Message From Founder