Adam Neumann’s Flow is expanding its Miami portfolio with the acquisition of a 50% ownership stake in Society Wynwood, a 318-unit luxury residential complex in the city’s Wynwood district, in partnership with Canada’s Greybrook.
The property, built in 2024, is currently valued at about $200 million. Market sources estimate its value could rise above $300 million, based on expected profitability gains and planned renovation investment.
Flow and Greybrook will form a dedicated joint venture, with each side holding 50%. The project will be rebranded as Flow Wynwood.
Flow’s purchase includes an initial $15 million investment, with another $10 million earmarked for planned capital improvements and rebranding, according to a source familiar with the details.
Wynwood, known as Miami’s arts and entertainment district, has attracted a growing concentration of global technology and business firms since 2020. The area has added about 158,000 square meters of Class A office space, with tenants including Amazon, Spotify, Sony Music, Thiel Capital, PwC and Gensler.
Flow was founded by Neumann in 2022 with $350 million of his own capital and an initial $350 million investment from Andreessen Horowitz. In 2025, the venture capital firm invested another $100 million in Flow at a company valuation of about $2.5 billion.
The deal adds to Flow’s growing Miami portfolio, which includes about 3,559 operating units and more than 5,000 additional units under development in areas including Aventura, El Portal and Brickell.
The company operates an integrated model combining ownership, operations and management with technology. Its existing and planned projects include 7,500 condominium and luxury apartment units, about 46,500 square meters of retail space and about 79,000 square meters of office space across two cities in the United States and Saudi Arabia.
Flow also holds a roughly 27.6% stake in Canada Global, which is traded on the Tel Aviv Stock Exchange and controlled by Assi Tuchmaier and Barak Rosen.
Greybrook, Flow’s partner in the acquisition, is a private real estate investment firm based in Toronto. The company focuses on residential development and investment in North America and was the existing owner of the project. Greybrook says its portfolio represents about $45 billion in total development value, with about $2.5 billion in equity invested in more than 115 projects in Canada and the United States.
“Wynwood has soul,” Neumann said. “We are proud to be part of a community built by people who care about art and entrepreneurship.”
Peter Politis, CEO of Greybrook Realty Partners, said the company had been confident from the start in Wynwood’s strength and the site’s unique qualities, adding that the partnership with Flow positions the property to continue building on that foundation.