Hedge Funder Buys $13.6 M Condo From G.E.

In this weekend's Big Deal column, William Neuman reports that hedge fund manager Joseph M. Jabobs recently purchased a condo at 1 Central Park West for $13.6 million. But he does not mention the seller: General Electric.

The 46th Floor spread was a floor below the previous home of former G.E. chief Jack Welch (who has since fled to the celebrity-filled One Beacon Court).

After divorcing his wife, Jane Beasley, Mr. Welch was forced to purchase the apartment from the corporation for $10.7 million, as The Observer reported in 2003.

Now, it looks like G.E. is getting out of the tony building completely. And with a nice profit, too.

- Michael Calderone