A juicilicious real estate rumor is going round the vine, thanks to Variety's Your Mama. A $100 million worth of Malibu Beachfront compound belonging to American business magnate David Geffen is allegedly being dangled around pre-screened clients who can afford the sky-high price of the property. The gossip's source is one of L.A.'s most prominent property brokers, Ben Arnold.
Rumor has it that Arnold had been discreetly offering the Malibu, Carbon Beach compound of the 70-year-old philanthropist to Platinum Triangle real estate power players discreetly - not as discreet as he hoped for apparently.
The properties were actually acquired by Geffen separately, in fact, two decades apart. The purchases were made during the mid-1970's and in June 1999, both for an undisclosed amount. Geffen's net worth is estimated to be around $6 billion, and that includes the ship-sized boats 376-foot long Pelorus, and 473 feet Rising Sun,which is 1.5 times the length of a football field.
So what's inside the $100 million worth compound? There are several grey-shingled structures in the property wherein one houses a professional-quality screening room, says a credible source. There is also a lily pond and beachside swimming pool and spa. There's a fair amount of lawn and a variety of shaded verandas and open terraces with direct ocean and peripheral coastline views. A total of nine garage bays face Pacific Coast Highway, but that's been disputed in one report saying that four of those are merely façades. According to stories, Mister Geffen had this brilliant idea of putting up the faux garage doors to keep beachgoers from parking in front of his house. But the matter was took to court, and after three years of battle, the DreamWork co-founder had to give up the space to make way for a public entry and exit point for beachgoers.
Aside from the fearsomely fortified and heavily guarded compound, the billionaire has other properties just as posh and expensive. He recently purchased a East Hampton's tony Georgica Pond for $50 million, the No. 20 Most Expensive Home Sales in U.S. History according to Forbes.
Geffen also has in his roster the 13,600-square-foot Jack L. Warner Estate on Angelo Drive, Beverly Hills which he purchased for $47.5 million in 1990.
He also has a 12,000-square-foot aerie overlooking Central Park apartments in Manhattan that he purchased from Denise Rich, late billionaire commodities trade Marc Rich's ex-wife.
And the list goes on...
