David Geffen sells Malibu home for record price

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David Geffen has officially sold his Malibu home for a record $85 million. But, that number fell short of the $100 million he had hoped to make on the oceanfront residence.

The gated, two-story property is situated on Malibu’s Carbon Beach and has two guest houses, a swimming pool and spa, a theater, a gym and an outdoor living room with fireplace.

TMZ reports the art in the house was not included in the price, which alone is estimated to be in the hundreds of thousands of dollars. The buyer is not known, but The Hollywood Reporter was told it is a well-known businessman.

The last record-high sale was of an estate on Encinal Bluffs, also in Malibu, which sold for $75 million in 2013.

Westside Estate Agency’s Kurt Rappaport represented both the buyer and the seller and did not wish to comment on the sale.

Courtest: Hollywood Reporter

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