The “Billion Dollar Loser” of WeWork, Adam Newmann, Has Bought Two Bal Harbour Properties for $44 Million




Adam Newmann, the long-haired, Kabbalah-following, enigmatic, and egotistical false prophet of WeWork, who was ousted from the company with a severance package that made him a billionaire, has just bought two prime pieces of Bal Harbour real estate for $44 million. Located next to the $65 million peninsula of land where the Bal Harbour Yacht Club used to be, these two properties were purchased from the same investor, Joseph Imbesi, who is parceling off the grand old club’s formal landholdings and carefully selling them off.

The parcels contain 360 feet of waterfront on the marina, multiple boat slips, and a 14,500 square foot house under construction, which Neumann plans to finish, all on 50,000 square feet of land. Imbesi hadn’t even listed them yet, as he was still focused on his golden egg next door. However, when he nabbed Newmann, Imbesi gave the exclusive story to the Wall Street Journal, a prestige move that big real estate guys in Miami, and probably elsewhere, make when they really wanna show off a little bit.

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