BEVERLY HILLS—Billionaire philanthropist, film studio executive and producer David Geffen paid $68 million dollars for a Beverly Hills estate owned by sports and entertainment executive and Los Angeles Olympic Organizing Committee President Casey Wasserman.
According to Los Angeles Times, Geffen’s new purchase is the second highest sale in South California in 2020 beating out Kylie Jenner’s $36.5 million purchase and the $43.3 million sale of the Georgia Frontiere estate.
The contemporary home, known as the Foothill Estate was completed in 2016 and designed by Richard Meier.
The most recent listing for the estate was approximately $82.5 million, the LA Times reported. Wasserman cut his original asking price of $125 million by 46 percent when the home was first listed in 2018.
The three-story estate sits on 3.25 acres. Two of the three acres previously belonged to Wasserman’s grandparents, and the other acre was formerly owned by singer Frank Sinatra.
The home features 18,543 square feet of space. According to Realtor.com, the property has 6 bedrooms, 14 bathrooms, and two half baths. The open layout features walls of glass, stone, and white oak.
The Foothill Estate offers a 85-foot tile infinity pool with a pool house, a 1,150-square-foot gym, a screening room and an art studio. The three-story home is connected with two stair cases and an elevator.