David Geffen is in contract to sell his highly sought after Carbon Beach pad for a whopping $85 million, according to several sources cited by Variety.
The music mogul assembled the compound, which comprises five adjacent parcels, over several decades starting in the 1970s. There’s a two-story shingled main residence, a separate guesthouse and a pool house on the property. Amenities include a screening room, a spa and nine garage bays.
A spokesperson for Geffen, who was rumored to have started shopping the property for $100 million last year, denied the sale to Variety. The identity of the rumored buyer is unclear.
Geffen’s portfolio comprises several LA homes, including a smaller Carbon Beach cottage that he bought for $9.8 million from restaurateur Peter Morton in 2008. [Variety]