The recent record-setting sale of media mogul David Geffen’s large beachfront property on Malibu’s Carbon Beach had one major unsolved element to it: The identity of the buyer.
The property—several parcels that had been acquired and combined over the years by Geffen—sold in May for $85 million. That price tag shattered the previous record for such a property in Malibu. The previous record holder for a single-family property had been the approximately $75 million sale of a nearly 10-acre property in 2013, says Variety.
The beachfront spread was originally five parcels, but Geffen combined them all into two. He bought the properties in two phases, in the mid-1970s and in 1999. Meanwhile, he found time to become involved in multiple legal tussles involving his attempt to block public access to the beach from his property but going so far as to install false garage doors where his land met the bustling Pacific Coast Highway.
Hopefully the new owners will not take on the mantle of obstructing beach access.