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Billionaire tycoon David Geffen sold a progression site in Beverly Hills for $33. 8 million, more than a year after buying the assets in a position for a mansion, The Real Deal learned.
The owner of the one-acre plot at 1169 North Hillcrest Road is an investor from Santa Barbara, whom the resources did not identify.
Geffen paid $30 million for the assets in July 2019, plans to build a 24,500-square-foot mansion designed through architect Shubin Donaldson’s company, according to PropertyShark, the assets have replaced hands six times since 2013, with no owner left with the land. long enough to expand it.
This sale is the latest in what has been a prolific year of genuine real estate transactions for Geffen Records founder and former DreamWorks executive and co-author. Geffen set a record in February for the top single-family housing deal in California when he sold a property in Beverly Hills to Amazon CEO Jeff Bezos for $165 million.
Westside Estate Agency co-founder and CEO Kurt Rappaport represented Geffen in the sale of Hillcrest Road and its $68 million acquisition of Casey Wasserman’s Beverly Hills mansion in June.
Rappaport declined to comment. A message left to a Geffen representative on Monday was not returned.
Copyright © 2020 The Real Deal is a registered trademark of Korangy Publishing Inc.
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