The Real Deal New York

Former GE boss’ One Beacon Court pad is a $26M whisper listing

Jack Welch owns the apartment
April 05, 2018 10:00AM

Jack Welch and One Beacon Court

How will Jack Welch’s One Beacon Court apartment fare in a shaky condo market stacked with pricey product? He’s about to find out.

The outspoken and controversial former CEO of General Electric is putting his One Beacon Court condo on the market for $25.9 million.

The home contains four bedrooms and spans 5,782 square feet, and a Corcoran Group team led by Deborah Grubman, David Adler and Paul Albano is marketing the unit, according to the New York Post. It includes a wet bar, motorized pocket doors and a media room. The apartment is said to be the only combination of two three-bedroom condos in the building.

The listing at One Beacon Court, located at 151 East 58th Street, was due to be pulled off the market after the Post asked about it, but the team is still expected to quietly look for a buyer.

Beyoncé sold her condo in the building for $9.95 million last year, and hedge funder Steven Cohen relisted his duplex at the building for $57.5 million in September, down significantly from his previous $115 million asking price.

Welch will be selling during a difficult time for the market. The number of closed Manhattan sales in the first quarter of 2018 fell to 2,180, a 24.6 percent decrease from the same time last year, according to a recent report from Douglas Elliman. That’s the lowest total seen in six years and the largest annual decline in nine years, according to appraiser Jonathan Miller.  [NYP] – Eddie Small