David Geffen NOT Selling Warner Estate

geffenestate.jpgI can tell you that David Geffen is denying a throwaway line inside a Wall Street Journal article today about big ticket homes for sale claiming that he "has quietly shopped his historic 9.4-acre Los Angeles estate for $100 million, according to a broker who has shown the property". Indeed, sources tell me that Geffen turns down offers, including those in excess of $100 mil, all the time for the famed Beverly Hills mansion that was formerly owned by Hollywood mogul Jack Warner in the 1930s. Geffen purchased it for $47.5 mil and spent another $45 million renovating it, including $20 million on landscaping. (As one journalist wrote, "He may be the only mogul who has ever made Xanadu smaller.) Since Geffen has owned it, the house has played a pivotal role in the charitable and political life of Los Angeles: the mansion that Bill Clinton stayed in has most recently been used for Barack Obama's fundraising.

« Could NYO's Peter Kaplan Save Portfolio?   Les Moonves, A Mogul With No Conscience »

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.