David Geffen and the view from his new Beverly Hills development property
Another mega mansion may in the works now that entertainment mogul David Geffen has purchased one of the last buildable lots in Beverly Hills’ so-called “Billionaires Row.”
Geffen paid $30 million for a 1-acre property that first listed for $39 million about a year ago, according to the Los Angeles Times. The property offers sweeping views, from Downtown to the Pacific Ocean.
It sits among some of the more extravagant spec homes in Beverly Hills and itself comes with plans for a 24,500-square-foot modern-style mansion designed by architectural firm Shubin Donaldson.
Nile Niami’s Opus spec mansion sits across the street — still unsold — asking $60 million. Down the block stands a Bruce Makowsky-built mansion that sold to Minecraft creator Markus Persson in 2014 for $70 million.
For Geffen’s property, the Donaldson firm-designed home would have seven bedrooms, 14 bathrooms and that’s just the beginning. The plan includes a bowling alley, nightclub, bar, theater, salon, gym, and a 140-foot swimming pool running the length of the home, according to the Times.
Since last summer, at least 317 acres in Beverly Hills and Bel Air alone have hit the market, seeking more than $1 billion combined, according to a property review by The Real Deal in March.
Geffen — whose net worth is around $8.6 billion, according to Forbes — has owned several properties in the L.A. region over the years. In 2017, he sold two beachfront homes in Carbon Beach for $85 million and $8 million.
Also a prominent philanthropist, Geffen also pledged in 2017 to donate $150 million toward a new building at the L.A. County Museum of Art. The museum is planning a $650 million expansion, and has received some star-studded support from the likes of Brad Pitt and Diane Keaton. [LAT] — Dennis Lynch
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