The Real Deal New York

Hamptons fan David Geffen sheds one of two estates for $67M

Mogul sold Georgica Pond estate after picking up Lilly Pond Lane home for $70M
June 21, 2016 02:11PM

26-30 West End Road in East Hampton (inset: David Geffen)

26-30 West End Road in East Hampton (inset: David Geffen)

Even billionaires don’t need two tony estates in the Hamptons.

Just months after buying a two-acre spread at 199 Lilly Pond Lane in East Hampton for $70 million, entertainment magnate David Geffen has sold his nearby compound at 26 and 30 West End Road for $67.3 million.

The co-founder of DreamWorks SKG had planned to renovate the Georgica Pond mansion he picked up in 2014 for $50 million, but instead took a fancy to the oceanfront Lilly Pond Lane estate.

The new and unnamed owners are looking to flip the property. Three of the four lots at the property can be had for $55 million, according to the Journal. The estate features a main residence with seven bedrooms and 7,500 square feet, along with a three-bedroom guesthouse and a dock on Georgica Pond

Zachary and Cody Vichinsky of Water Mill-based Bespoke Real Estate have the listing.

Geffen, with a fortune estimated at $7 billion, earlier this year donated $100 million to the Museum of Modern Art to finance the institution’s renovation and expansion.

He’s facing a lawsuit from neighbors at his Parc V co-op, who allege the gut renovation of his $54M duplex apartment is wreaking havoc on their apartment. [WSJ] — James Kleimann