Former WeWork CEO Adam Neumann brought home a win after his company’s apartment brand, Flow Life, secured the 16-acre Biscayne 85 property in a court-ordered auction for $70.5M, doubling the initial stalking horse bid of $35M.
low’s winning bid came at a Jan. 15 auction, besting Miami-based development firm Melo Group`s $35M bid from October.
“The winning bid from Flow Life was double the initial stalking horse bid and will result in the recovery of a substantial amount of the victim’s losses,” Avison Young principal Michael T. Fay said in a statement, referring to litigation stemming from allegations that the property`s former owner misappropriated funds raised through the EB-5 immigrant investor program...
...more“The winning bid from Flow Life was double the initial stalking horse bid and will result in the recovery of a substantial amount of the victim’s losses,” Avison Young principal Michael T. Fay said in a statement, referring to litigation stemming from allegations that the property`s former owner misappropriated funds raised through the EB-5 immigrant investor program...
RSK: Not again. Watch out for this guy...it seems nothing really good seems to follow Adam.
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- - Volume: 25 - WEEK: 5 Date: 1/28/2025 3:12:20 PM -