Former General Electric CEO sells three Palm Beach properties
October 28, 2009 02:45PM
Former General Electric CEO Jack Welch
Former General Electric chairman and chief executive Jack Welch has sold an adjacent pair of North Palm Beach oceanfront lots to Johnson & Johnson chairman and CEO William Weldon for $8.45 million, according to a deed filed Monday. Welch, a longtime resident of Lost Tree Village, purchased the lots, at 1264 and 1284 Lake Worth Lane, in 2006 for a combined $7.975M, Property Appraiser's Office records showed. In a separate sale, Welch sold a 10,000-square-foot waterfront home at 11823 Turtle Beach Road, also in Lost Tree Village, for $5.15 million. The property, which Welch purchased in 2007 for $7.6 million, went to Donald Gogel, CEO of New York private equity firm Clayton, Dubilier & Rice, and his wife, Georgia. [Palm Beach Daily News]
The Real Deal reserves the right to delete any comment it finds to be rude, obscene, racist, sexist, bigoted, irrelevant or repetitive, as well as inappropriate comments about anyone's personal appearance or advertisements. The Real Deal does not endorse any comments posted on its Web site nor does it verify the veracity of comments or the identity of posters.
Comments