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Billionaire David Geffen sells his Malibu compound for $85 million

Billionaire David Geffen sells his Malibu compound for $85 million
Music and movie mogul David Geffen has sold his Malibu compound for $85 million. (Jason DeCrow / Associated Press)

David Geffen's Malibu compound has changed hands for $85 million, public records show. The most expensive sale previously recorded in the beach community took place four years ago for $74.5 million.

The Carbon Beach property has an East Coast vibe with exteriors sporting gray shingles and white trim. It is kept under close watch by security, as is that entire stretch of Pacific Coast Highway, known as "Billionaires' Beach" for its wealthy homeowners, including Larry Ellison, Eli Broad and Jeffrey Katzenberg.

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The estate contains a main house, guesthouses and a pavilion screening room. An oceanfront swimming pool and spa, lawn and patios complete the grounds.

For years, music and movie mogul Geffen, 74, fought the California Coastal Commission over keeping closed the public beach access way next to his compound.

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The property sold to a limited liability company.

Twitter: @laurenebeale

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