David Geffen unloads home on Billionaires’ Beach for $8 million
Music and movie mogul David Geffen, fresh off the $85-million sale of his Malibu compound, has sold another home in the beach community for $8 million, according to the Multiple Listing Service.
The oceanfront home, built in 1956, sits on “Billionaires’ Beach,†a stretch of the Pacific Coast Highway known for wealthy homeowners such as Larry Ellison, Eli Broad and Jeffrey Katzenberg.
Entered through a gated courtyard, the 1,473-square-foot house includes a living room with a fireplace, a kitchen, two bedrooms and two bathrooms. Glass doors in the dining area open to a surf-facing deck that overlooks 45 feet of beach frontage.
James Rapf of Pritchett-Rapf & Associates and Kurt Rappaport of Westside Estate Agency were the co-listing agents. Chris Cortazzo of Coldwell Banker represented the buyer.
Geffen, creator of Geffen Records and co-founder of DreamWorks Studios, bought the property a decade ago for $9.8 million, records show. It had been listed for $8.995 million.
The 74-year-old has an estimated net worth of $7.7 billion, according to Forbes.
Twitter: @LATHotProperty
MORE FROM HOT PROPERTY:
Kylie Jenner gets $3.15 million for her glammed-up starter home in Calabasas
Equestrian retreat is off the beaten path in Lockwood Valley
Dodgers’ Yasiel Puig puts his mini-mansion in play at $2.3 million
U.S. home sales fell in June; shoppers couldn’t find houses to buy
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
