Updated: Wednesday, July 26, 12:30 p.m.: David Geffen broke Malibu records earlier this summer when he sold his Carbon Beach estate for $85 million. Now it seems the entertainment mogul has taken a loss in an effort to offload his last property and fully exit the celeb-filled city.
Geffen has reportedly sold the last of his known Malibu residential properties — a mere 1,473-square-foot Carbon Beach cottage — to an unknown buyer for $8 million — almost $2 million less than the $9.8 million he paid for it in 2008, according to property records. .
Built in 1956, the Contemporary-style home has two bedrooms and two bathrooms, Variety reported.
Kurt Rappaport of Westside Estate Agency and James Rapf of Pritchett-Rapf & Associates had the listing.
The cottage is down the street from the Carbon Beach pad he sold for $85 million to Los Angeles Dodgers owner and Guggenheim Partners CEO Mark Walter.