Billionaire David Geffen Behind $68 Million L.A. Purchase—Second Highest Of The Year For Southern California

Earlier this year David Geffen cemented himself as a record holder in Los Angeles real estate when he sold his $165 million home to Amazon AMZN founder Jeff Bezos—beating out all other California home sales to date. Forbes estimates Geffen’s net worth at $8.9 billion and Bezos’ net worth at $155.3 billion. Now Geffen has landed on the radar again by purchasing the Foothill Estate for about $68 million, according to the L.A. Times. The property had originally been asking $125 million and then came down in price to $82.5 million, but hadn’t found any takers until Geffen went into escrow on it last week. This is another one to add to the growing list of double-digit discounts for ultra-luxury homes that all started when the Covid pandemic started to take hold.

Geffen is purchasing a site with extensive Hollywood history. Most of the land on which this home was built was purchased by studio executive Lew Wasserman and his wife Edie several generations ago. His grandson, Casey Wasserman (who helms the Olympic Committee for LA 2028), inherited the land and then purchased an adjoining lot—that had been previously owned by Frank Sinatra—to complete the 3.2 acre parcel. In 2016 Wasserman and his wife Laura had this 18,500-square-foot house designed by architects Richard Meier and Michel Paladino, the same names behind the famed Getty Museum.

This five-bedroom, 13-bath home is a subdued contemporary design, with a slatted exterior complementing the double-height industrial style glass walls. Some of the ceiling heights reach 10 and 12 feet to add drama and an airy feel to the indoors.

Automatic steel doors open fully to the outdoors to create that signature L.A. indoor/outdoor living space.

Here is the kitchen which deviates slightly from the wood backdrop with multi-textured tiles.

The main bedroom has a private balcony and attached closet space equal to the size of any of the bedrooms.

Here’s one of the closets:

Not pictured are the amenities for the home, including a 1,000-square-foot home gym, art studio, elevator, staff quarters, screening room, 85-foot outdoor infinity pool and pool house. The listing is with Stephen Shapiro at Westside Estate Agency. Geffen was represented by Kurt Rappaport, also of Westside Estate Agency, according to the L.A. Times.

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