The Real Deal Miami

Former General Electric CEO sells three Palm Beach properties

October 28, 2009 01:42PM

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]