Advertisement

David Geffen unloads home on Billionaires’ Beach for $8 million

After selling his Malibu compound for a record $85 million, entertainment mogul David Geffen has sold another home in the area at a loss.
(Jason DeCrow / Associated Press)
Share via

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.

Advertisement

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.

Advertisement

The 74-year-old has an estimated net worth of $7.7 billion, according to Forbes.

neal.leitereg@latimes.com

Twitter: @LATHotProperty

MORE FROM HOT PROPERTY:

Advertisement

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

Advertisement