The multibillionaire mogul David Geffen has downsized his living circumstances, so to speak, by purchasing a nearby compound that also boasts Old Hollywood ties, following the sale of his legendary Beverly Hills estate to Jeff Bezos for $165 million. According to sources, the deal is essentially done, as first reported by the Los Angeles Times. According to reports, the discounted sale price is around $62 million, significantly less than the previous $82.5 million asking price, and less than half of the original $125 million asking price. Beverly Hills still ranks among the priciest cities in the world for such a deal.
Three contiguous parcels make up the 3.3-acre property just north of Sunset Boulevard, one of which was formerly owned by Frank Sinatra and the other two by Hollywood mogul Lew Wasserman, who lived in a midcentury modern home there for decades. However, today those houses are long gone and a much larger contemporary mansion has taken their place.
A Tinseltown scion and Los Angeles Olympic committee chairman, Casey Wasserman, sold the estate as Lew’s grandson and primary heir. He purchased the estate in the early aughts, demolished his grandfather’s home, and hired Pritzker Prize-winning architect Richard Meier to design a large house with all the modern gadgets today’s billionaire homebuyers want.
With more than 18,000 square feet and six bedrooms, the finished house is composed of wood, glass, stone and metal, spanning more than 18,000 square feet. Four cars can be parked in the garage, and the motorcourt can accommodate large events. The estate’s many trees provide peek-a-boo views of the Downtown L.A. and Century City skylines, as well as views of the entire Los Angeles region.
This blocky house is rigidly contemporary, with clean lines and a living area that resembles an atrium. Disappearing glass walls in the great room open up to a sprawling lawn, allowing the indoors and outdoors to blend seamlessly. A poolhouse and 85-foot infinity pool are located in the backyard.
There is an elevator, an art studio, a gym, a screening room, an automated steel-and-glass door, and an elevator. In addition to geothermal systems for heating and cooling, a generator was also installed to mitigate the property’s considerable carbon footprint.
In addition to the Beverly Hills house, Geffen owns a $54 million penthouse on Fifth Avenue in Manhattan and a $70 million Hamptons estate. The Rising Sun is undoubtedly his most famous home, a $590 million, 453 ft. superyacht where he has spent much of the last few months self-isolating since the initial Coronavirus outbreak, and where he regularly entertains famous people.
