Jack Welch dishes out $17M for for pad at One Beacon Court

Buyer linked to French broadband executive Cedric Varasteh

TRD New York /
Jun.June 06, 2019 04:45 PM
One Beacon Court and Jack Welch (Credit: Getty Images)

One Beacon Court and Jack Welch (Credit: Getty Images)

Former GE boss Jack Welch has closed on the sale of his One Beacon Court apartment for $17 million.

Records show the buyer is an entity dubbed Byron Real Estate LLC, which is linked to Cedric Varasteh, founder and of the French broadband company Euro Techno Com S.A.S.

Welch, who paid $14.6 million for the apartment, listed it for $25.9 million last year.

The 46th floor pad, with 5,782 square feet, is the combination of two three-bedroom condos in the building, which Welch bought in 2005 and 2009, records show. It has a wet bar, motorized pocket doors and a media room. The Corcoran Group’s Deborah Grubman, David Adler and Paul Albano had the listing.

The sale price works out to $2,940 per foot.

In 2018, Welch paid $18.8 million for a seventh-floor co-op at 834 Fifth Avenue. The unit was sold by the estate of philanthropist Ruth Stanton, who owned the apartment for four decades.

Welch’s former neighbor at One Beacon Court is Steven Cohen, who has been trying to sell his duplex for years. Most recently, the 9,000-square-foot condo is asking $45 million — down from $115 million.

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