Geffen pays $14.7M for Park Cinq pad

Film and record producer David Geffen has a new spot at the Park Cinq, the 785 Fifth Avenue building with Central Park views and a limestone façade. The Brooklyn native paid $14.17 million for the 17th-floor co-op, which is 5,000 square feet in size and had belonged to former Warner Brothers Entertainment chairman Robert Daly. The apartment reportedly changed hands without the help of a broker. Geffen, who is co-founder of Dreamworks SKG, used to own a penthouse apartment nearby at 810 Fifth Avenue. He bought the co-op for $31.5 million in 2006 and flipped it for $37.5 million a year later. [NYT]