Billionaire David Geffen Buys Hamptons Home for $70M

Billionaire David Geffen Buys Hamptons Home for $70M

Published: May 31, 2016 | By: American Luxury Staff

Film and music mogul David Geffen recently scooped up a 2.04-acre, oceanfront estate in East Hampton, New York, for $70 million.

This purchase took place just a couple of years after the Dreamworks co-founder dropped $50 million for a 6-acre estate with multiple residences on the southern shore of Georgica Pond in the same town. Geffen has already sold this parcel for around the same price he paid for it to a group of developers.

Geffen’s new pad comes in the form of a classic Hamptons-style cottage, but a rather large cottage to say the least. The grounds include a beach-side swimming pool, tennis court, lily pond, expansive and manicured grounds and gardens, and a second residence.

The philanthropic magnate is worth $6.5 billion and owns a bevy of other properties around the country, most noticeably the 13,600-square-foot mansion on 10 acres in Beverly Hills, California, that the 73-year-old uses as his main house. This home features bespoke furnishings such as wood paneling carved by famed 18th-century woodworker Thomas Chippendale and the exact same floor Napoleon Bonaparte was standing on when proposed to his first wife, Joséphine de Beauharnais, in 1796.

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