#PropTech / WeWork’s Adam Neumann Returns to Real Estate With Startup Investment

Adam Neumann is back to exploring one of his WeWork-related passions: the future of residential living.

Neumann, WeWork’s co-founder who left last year during a floundering attempt to go public, invested $30 million in Alfred Club Inc., a startup that provides apartment buildings with services such as concierge-like staff and software to manage maintenance requests and other paperwork.

Alfred’s co-founder and chief executive officer, Marcela Sapone, said that when she met Neumann this year, they shared a vision for reinventing real estate, a traditionally slow-moving industry. They both hold “the perspective that real estate can do more for people, that we should demand more from our greatest expense,” she said. In addition to providing services such as dog-walking and rent processing, Alfred works to build community within its apartment buildings by hosting happy hours or educational events such as bread-making, Sapone said.