David Geffen Sells His Last Malibu Property (EXCLUSIVE)

David Geffen has landed a buyer for the last of his known residential holdings in Malibu, a pint-size contemporary cottage on coveted Carbon Beach that came up for sale earlier this year at just under $9 million. The asking price is certainly forbidding enough to chase off an average millionaire, but it’s nonetheless more than $800,000 less than the $9.8 million the billionaire businessman paid Hard Rock Cafe co-founder Peter Morton for the property in early 2008.
Just a half-dozen doors down the beach from the much more sumptuous compound he sold earlier this year for a mind-boggling $85 million to Los Angeles Dodgers owner Mark Walter, the almost 1,500-square-foot cottage was built in 1956 and has more than 45 feet of direct frontage on some of the most expensive sand in all of California.
Geffen has long maintained several homes in Beverly Hills, including an unassuming split-level residence he’s owned since 1980 in the Beverly Crest neighborhood, as well as the legendary Jack L. Warner estate he picked up in 1990 for a reported $47.5 million. He also presides over a substantial portfolio on the East Coast.
In addition to a two-plus-acre oceanfront estate along one of the plummiest streets in East Hampton, N.Y., which he bought last year for a whopping $70 million, he owns three units in the same apartment house on New York’s Fifth Avenue, including an elephantine 12,000-square-foot triplex scooped up in late 2012 for $54 million from three-time Grammy-nominated pop songwriter and international socialite Denise Rich.
listing photos: Westside Estate Agency

CategoriesStudio Execs
    1. David says:

      Do you mean such as the David Geffen Medical School at UCLA, Geffen Contemporary Art Museum, Geffen Playhouse Theater, Geffen Academy at UCLA?

      1. wookie says:

        he was made into a person in New Utrecht High School, like so many other celebs, but they don’t even acknowledge that.

  1. Ferrous mike says:

    As Democrats continue to lose special elections, most celebs will need to scale back to one 12000 square foot home to finance the DNC. Oh, the horror!

  2. Steve says:

    If climate change is destroying the world and water levels are rising why aren’t all these lib buyers and sellers not getting just pennies on the dollar for these coastal properties?

  3. Joe Boltonn says:

    Funny how all of these rich liberals that tell us that global warming is going to put the coasts under 6 ft of water in 20 yrs are shelling out Millions for beach front property. Apparently, Realtors are all climate skeptics.

  4. surlybits says:

    Wow, how ridiculous. $9 mil for a little 1500 square foot shack on the beach. And I always hear this mindless trope about how the rich stay rich because they are smart with their money. Hogwash. It is simply that for someone at Geffen’s level of obscene wealth, spending $9 mil is like the average man spending $90…

  5. JokerWatcher says:

    didn’t care for the common people accessing the beach in a right-of-way located alongside his house, so he’s splitting. Either that, or he’s looking for the seas to rise

      1. Toni says:

        Southampton is further from the beach crowds and the beach area is not really available to beachgoers the area towns are highly maintained and historic. The area is not built up against a mountain so there’s lots of open spaces. Too far.

      2. Sandy says:

        There’s no reason to have public access way to private beaches. At the average tides it’s all private owned land and its illegal trespass the beach people have plenty of public beaches available, with bathrooms buildings and food stands. Public access ways to private beach property this is the
        government stealing from private
        owners. Take a look at how run down the commercial areas in the town of Malibu have become , half the stores are empty for years, and the tiny developed beach area in the town
        Has no parking and has been changed to a reservation for birds. The park in the town is open acres of high weeds with nobody using it instead of developing more public parking. Malibu is a mess it’s annoying to even visit. Too bad.
        It looks abandoned. Creeepy.

    1. Sam says:

      Because the market is high and it’s going to crash just like it did 10 yrs ago it’s way way way overpriced right now.
      Suckers. The perfect Cute house if you didn’t have to look at all the weirdos walking past on the beach.
      Shut up.

      1. WeHo boy says:

        Because the courts finally acted and forced public access one again to the beach. Some owners were fined and decided not to live near the “commoners”. I do see their point, that much money should buy a private beach. But not in California. And so shame on them for trying to keep people out. The laws must apply to everyone.

  6. WeHo boy says:

    The beaches are NOT private.By law they are PUBLIC. Public access to public beaches, get it? In california, your 8 to 25 $million does not buy you a beach. Merely beachfront property.

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