Golf great Raymond Floyd swaps $2.5M condo with Yahoo! chairman

Longtime professional golfer Raymond Floyd and his wife, Maria, sold their two-bedroom, two bath condo in the Greathouse at 11080 Turtle Beach Rd. in Unincorporated Northeast Palm Beach County for $2.5 million to Roy Bostock and his wife, Merilee, on June 27.

The Floyds paid $2.5 million for Unit #1070 in May 2007. There are 56 units in the development.

Since turning pro in 1961, Mr. Floyd has won four major PGA championships and two major championships after joining the Champions Tour in 1992.

The 65 year-old North Carolina native won titles at the PGA Championship in 1969 and 1982 and also won the 1976 Masters and the 1986 U.S. Open. He nearly became the first player to win a major in four different decades when he finished second in a playoff to Nick Faldo at the 1990 Masters.

Since joining the Champions Tour in the early 1990s, he's posted 14 tour wins, including titles in the Ford Seniors Players Championship in 1996 and 2000.

He's competed on eight U.S. Ryder Cup teams in his career and won a total of 66 total professional events and $17 million worldwide. He was inducted into the World Golf Hall of Fame in 1989.

He's also enjoyed success as a designer for elite golf courses, including the Raptor Bay Golf Club in Bonita Springs, Fla.

Mr. Bostock is a former managing director at investment giant Morgan Stanley in New York City and has served as the non-executive chairman of the board for Yahoo! Inc. since January. He also sits on the board at Morgan Stanley and Northwest Airlines.

He previously served as chairman of advertising firm BCom3 Group Inc. and as chairman and CEO of its predecessor, the MacManus Group.

He earned his M.B.A. from Harvard University and his bachelor's from Duke University, where he is the namesake of the Bostock Library.

Condo sales in Unincorporated Northeast Palm Beach County dropped 12 percent in 2007. The median sale price dropped from $430,000 in 2006 to $265,000 in 2007.

Sales in the Greathouse did not change in 2007. The median sale price last year was $3.1 million.

Address: 11080 Turtle Beach Road, Unit: 107
Buyer(s): Roy J Bostock and Merilee H Bostock
Seller(s): Maria Floyd and Raymond Floyd
Sale date: Jun. 27, 2008