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GE's CEO Immelt Puts New Canaan Estate On The Market, Buys Boston Condo

Jeffrey Immelt , Fairfield's General Electric CEO, is selling his 4-acre estate in New Canaan, for $5.5 million, according to a story on realtor.com.
Jeffrey Immelt , Fairfield's General Electric CEO, is selling his 4-acre estate in New Canaan, for $5.5 million, according to a story on realtor.com. Photo Credit: GE
Jeffrey Immelt and his wife Andrea will move into this $37 million Millennium Tower penthouse in Boston this August.
Jeffrey Immelt and his wife Andrea will move into this $37 million Millennium Tower penthouse in Boston this August. Photo Credit: realtor.com
Jeffrey Immelt’s New Canaan home that is currently on the market
Jeffrey Immelt’s New Canaan home that is currently on the market Photo Credit: realtor.com

NEW CANAAN, Conn. -- General Electric CEO Jeffrey Immelt is preparing to move out of Connecticut and into Massachusetts, just like the $130 billion high-tech global company that he leads.

Immelt has put his 4-acre estate in New Canaan on the market for $5.5 million and is buying a pricey condo in Boston, according to Realtor.com.

The stone and clapboard New Canaan home features 10,458 square feet of space, six en suite bedrooms, a chef’s kitchen, a solarium and a separate in-law suite over the garage, Realtor.com said.

The couple will move into a 3,565-square-foot triplex condo costing $8 million at 36 Commonwealth Ave. near the Public Garden in Boston, the Boston Business Journal said. It features a gourmet eat-in kitchen, a private deck, wood-paneled library and three fireplaces, the Business Journal said.

GE, a $130 billion high-tech global company, announced in January its plan to move its headquarters from its campus in Fairfield to Boston's Seaport District. Known for products ranging from light bulbs to jet engines, GE said it was making the move to support its new branding as a technology company.

The company said its new location in Boston will give it more access to younger, tech-savvy talent. GE will move 200 of its 800 headquarters workers to Massachusetts, with the move coming in phases, beginning this summer.

Click here to read the Realtor.com article.

Click here to read the Boston Business Journal article .

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