A Madonna-linked UK millionaire and the CEO of WeWork have just been outed as minority stakeholders in the $150 million residential transformation of the Woolworth Building’s tower.
The two, Abraham Moses Schimmel, also known as Marc, and Adam Neumann of WeWork, wrapped up a $68 million contract to purchase the iconic building’s top 30 floors last April.
They immediately brought in Kenneth Horn’s Alchemy Properties to take the majority position and lead the luxury redevelopment that will cost another $90 million.
Schimmel’s UK-based family owns various investments there and in Israel, and were involved in the purchase of the HSBC Building on Fifth Avenue in 2009. That same year, Schimmel, a Kaballah devotee, was tied to Madonna when she split from her boy toy, Jesus Luz.
Neumann, CEO of WeWork, which offers office spaces and other services to its community of members, will also advise Horn on branding and marketing of the 40 large residential units that will be developed at the downtown landmark.
