David Geffen pays $68M for Casey Wasserman’s Beverly Hills manse

UPDATED, June 8, 12:12 p.m.: Entertainment industry titan and ultra-luxury real estate trader David Geffen has paid $68 million for a Beverly Hills estate owned by Los Angeles Olympic Organizing Committee President Casey Wasserman, The Real Deal has learned.

The Los Angeles Times first reported on the sale but did not have a price.

The 3.3-acre property was most recently listed for $82.5 million, the Times reported. It first hit the market in late 2018 asking $125 million and Wasserman cut the price at least twice after that. The deal price is a 46 percent chop from that original listing amount.

A source confirmed the $68 million figure, which includes about $3 million for furniture and other valuable items in the house.

In February, Geffen sold a massive Beverly Hills estate to Amazon CEO Jeff Bezos for an L.A. County record-setting $165 million.

The Wasserman property has a three-story house that spans over 18,500 square feet and is built in a modernist style. It was designed by Pritzker Prize-winning architect Richard Meier, who was accused in 2018 of sexual misconduct and harassment by multiple women.

The six-bedroom, 14-bathroom home has a large indoor-outdoor great room and an open dining area. Spaces are connected with automated steel doors. Amenities include a home theater, gym, and an art studio.
A deck area connects to the 85-foot infinity pool and a pool house.

Westside Estate Agency co-founder Stephen Shapiro had the listing and co-founder Kurt Rappaport represented Geffen.

Last year Geffen also bought a one-acre development site on so-called Billionaires Row in Beverly Hills for $30 million.

High-end properties continued to hit the market this year despite the impact of the coronavirus pandemic. One spec home in Bel-Air even re-listed for nine-figures after two years without a sale.

The updated story includes the sale price and buyer broker.