As the We Company — better known as WeWork — mulls a widely rumored IPO, pundits continue to debate the $47 billion mega-unicorn’s longterm financial viability. The currently unprofitable, Manhattan-based co-working space behemoth is looking to raise $4 billion in debt financing this year and has already raked in $8.4 billion from confident investors, though it continues to post hundreds of millions in quarterly losses. But finances aside, the firm’s epic growth and reach cannot be denied — the nine-year-old startup has over 5,000 employees and 100,000+ members across hundreds of locations worldwide.
And any perceived business concerns, real or imagined, haven’t dissuaded WeWork’s top execs from investing their healthy personal earnings into luxury real estate. Take CEO Adam Neumann, who recently inked a $35 million deal for a four-unit Manhattan spread. And then there’s vice chairman Michael Gross, who earlier this month forked over exactly $28 million for a remarkably fancy tennis court estate in Brentwood, out on L.A.’s perennially desirable Westside.
Sited on a 1.2-acre lot with a full-size north/south tennis court, the property sits just a quick skip north of Sunset Boulevard. Custom-built in 2007 for Fleetwood Mac’s Lindsey Buckingham and his longtime wife Kristen, the 8,000+ sq. ft. mansion was never before offered for sale, and transferred just six weeks after first hitting the market.
The listing, which refers to the double-gated property as a “World-Class Celebrity Compound,” reveals that the French Normandy-esque compound features a large motorcourt, a detached three-car garage with guest quarters and a chic main mansion with wide-plank hardwood floors and formal living, dining and billiards rooms. There’s a glass-fronted SubZero in the farmhouse-style gourmet kitchen, which also sports a breakfast room and an oversized island with butchers-block countertops.
In a rather unusual move, the Buckinghams opted to locate their master suite on the main floor, but privately tucked away from the public rooms in its own wing. There are four additional ensuite bedrooms upstairs, plus an office with loft. Somewhere on the premises are also a private gym and a recording studio, of course.
The lush grounds encompass a brick terrace with fireplace for outdoor dining, a large swimming pool with adjacent guest/poolhouse, formal gardens, mature trees, pancake-flat lawns and manicured hedges.
In addition to their new $28 million Westside digs, Gross — the former CEO of Morgans Hotel Group — and his film producer/director wife Amy Miller Gross continue to maintain their longtime penthouse in New York City. Since way back in 2006, they have bunked up in a triplex unit located in the proverbial heart of Manhattan’s natty Tribeca neighborhood. Back in 2017, the 4,600 sq. ft. contemporary showpiece was offered with a $10 million list price, though records reveal the property did not sell before eventually being delisted.
And as for the Buckinghams, this is hardly their first time on the high-end L.A. real estate rodeo. Last May, they sold another Brentwood mansion for exactly $19 million to Disney Television Studios chairman Dana Walden. And back in 2005, they got financier Daniel G. Cohen to pay them $19.5 million for a lavish Bel Air hilltop compound.