David Geffen’s Carbon Beach compound has finally sold for $85 million, after two years on the market. The sale closed Tuesday, TMZ first reported.
While it came in well below Geffen’s $100 million ask, the price still sets a new record for a Malibu home. The previous record was set set by the $74.5 million sale of Howard Marks’ home at 33064 Pacific Coast Highway in 2013, records show.
The oceanfront estate sits on five parcels — at least one of which was formerly owned by Doris Day — and comprises a two-story main residence and two guesthouses. It features a theater, a gym, an outdoor living room and swimming pool with spa.
The buyer is a “well-known businessman,” according to the Hollywood Reporter.
Westside Estate Agency’s Kurt Rappaport represented both parties in the deal. [THR] — Cathaleen Chen