It's a very successful project for us. On April 10, just 20 days before his first stock options would vest, he was called into a meeting with Wood and Dufford where Markel says they fired him and blamed it on role elimination. By mid-February, he'd lodged a complaint with an HR representative, Katie Dufford. He oversees and works closely with a global team of over 2000 people across a wide range of disciplines including design, architecture, engineering and . The Xerxes Groups website features a photo of 117 Northeast First Avenue. So we are giving up some of our upside. It's all very reasonable, and their heart's in the right place. Spaxel is led by Managing Partner Granit Gjonbalaj (previously Chief Development Officer at WeWork) and Chairman David Hamamoto (previously CEO and Chairman of Northstar Realty, CEO of Morgans Hotel Group, and Co-Head of Real Estate at Goldman Sachs). A source familiar with the deal described it as an "acqui-hire." No one explained to Markel who had hired this would-be doppelganger or why, nor did they alter Markel's job duties, Markel told Business Insider. Its been a year of milestones for coworking behemoth WeWork. And throughout time what weve actually done is create various entities to exclusively serve WeWork.. Jeff Dybas. Builders Corp., United Alliance Enterprises LLC, Granit Gjonbalaj and Albert Gjonbalaj C"UAt' or' itatters set forth in this Il for lhull te (tn the and t lie . NOW WATCH: WeWork went from a $47 billion valuation to a failed IPO. We had a great experience with them during this development phase, we are now at the point where we are developing our interiors and we expect to open the first quarter of 2019. His role was vague, Markel said, and the two men didn't interact much. We took a look inside. And several relatives of WeWorks top brass landed top jobs at the company, including CEO Adam Neumanns wife who is billed as a founding partner and brother-in-law. A partnership versus a traditional lease? But music is an essential key bonding experience for all, so it makes sense WeWork invite some great artists to perform at Summer Camp! We feel very confident. towards a paywall. Richard Markel landed at WeWork when it bought part of the construction company where he worked, owned by a WeWork executive's brother. Gjonbalaj said in a statement that he was proud and honored to have worked at WeWork and was confident the firm would do well going forward. WeWork CEO Adam Neumann. One source close to WeWork, speaking on condition of anonymity, described the company as very incestuous. The source cautioned that this isnt necessarily a bad thing. Richard Gatto and Fahri Ozturk in Marcus & Millichap's New Jersey office represented the . WeWork functions with a skeleton crew in its buildings during this time, Markel said. . It's unclear whether WeWork had an obligation to report the transactions in its IPO paperwork. Out of the 35 featured construction projects listed on the site, 25 are identified as WeWork spaces. #weworksummercamp #mous, A post shared by Alexandra (@alexisu90) on Aug 17, 2018 at 4:33am PDTAug 17, 2018 at 4:33am PDT. Gjonbalaj: If you think about when our company was founded, we were going through a downturn. Sign up for notifications from Insider! We want to hear it: Email jbort@businessinsider.com, message @Julie188 on Twitter, or reach out on Signal. The events were ostensibly for team building, but in reality it was a bacchanal that Markel said would give any "corporate lawyer" hives. Garden Portfolio, a 312-apartment portfolio in Irvington. And it loaned him hundreds of millions of dollars.