Details emerge of David Geffen’s big Beverly Hills purchase

David Geffen turned L.A.’s real estate market on its head once again last week when he entered escrow on a Beverly Hills estate owned by L.A. Olympics Organizing Committee president Casey Wasserman. Now details are starting to surface, and real estate sources say the media mogul is paying about $68 million for the ultra-modern mansion.

It’s a staggering sum but still quite shy of the $82.5 million Wasserman was asking (and significantly less than his original price tag of $125 million).

Geffen has plenty of cash on hand; earlier this year, he sold his Beverly Hills home to Amazon billionaire Jeff Bezos for a record-shattering $165 million, by far the most ever paid for a home in California.

This new colossal deal is the latest in a luxury market that seems to have not skipped a beat during the pandemic. At $68 million, it would be the second-highest sale in Southern California this year, beating out Kylie Jenner’s $36.5-million purchase in Holmby Hills and the $43.3-million sale of the Georgia Frontiere estate in Bel-Air.