Entertainment Mogul David Geffen Sells Posh North Hampton Estate after Purchasing Nearby Property for $70 mill

June 23, 2016

 

 

About two years ago David Geffen paid philanthropist Courtney Sale Ross about $50 million for a nearly six-acre estate on the prestigious southern shore of Georgica Pond in a posh pocket of East Hampton, New York.  According to people with knowledge of the transaction, he just sold the property for US$67.3 million,  

 

The Georgica Pond estate wasn’t officially on the market, according to sources. Mr. Geffen had planned to renovate the compound, but instead purchased the nearby property for US$70 million last March.  

 

The more expensive oceanfront spread is just around the corner and incorporates broad lawns edged by high hedges and flowering gardens featuring a kidney shaped lilly pond.  

 

The music and film industry tycoon, who presides over an elephantine fortune estimated by Forbes at more than $6.5 billion, is living the high life with lavish trophy homes on both coasts. 

 

Mister Geffen has long made his primary home in an approximately 13,600-square-foot Neoclassical mansion on not quite ten completely landscaped acres in Beverly Hills that he acquired in 1990 from the estate of showbiz pioneer Jack Warner for an undisclosed amount widely reported to be $47.5 million.

 

Sources:  Wall Street Journal, Wealth X, Variety

Aerial image: Google
New York City exterior: Property Shark

 

(information is for entertainment purposes only)

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