David Geffen Sells His Last Malibu Property (EXCLUSIVE)

David Geffen has landed a buyer for the last of his known residential holdings in Malibu, a pint-size contemporary cottage on coveted Carbon Beach that came up for sale earlier this year at just under $9 million. The asking price is certainly forbidding enough to chase off an average millionaire, but it’s nonetheless more than $800,000 less than the $9.8 million the billionaire businessman paid Hard Rock Cafe co-founder Peter Morton for the property in early 2008.

Just a half-dozen doors down the beach from the much more sumptuous compound he sold earlier this year for a mind-boggling $85 million to Los Angeles Dodgers owner Mark Walter, the almost 1,500-square-foot cottage was built in 1956 and has more than 45 feet of direct frontage on some of the most expensive sand in all of California.

Geffen has long maintained several homes in Beverly Hills, including an unassuming split-level residence he’s owned since 1980 in the Beverly Crest neighborhood, as well as the legendary Jack L. Warner estate he picked up in 1990 for a reported $47.5 million. He also presides over a substantial portfolio on the East Coast.

In addition to a two-plus-acre oceanfront estate along one of the plummiest streets in East Hampton, N.Y., which he bought last year for a whopping $70 million, he owns three units in the same apartment house on New York’s Fifth Avenue, including an elephantine 12,000-square-foot triplex scooped up in late 2012 for $54 million from three-time Grammy-nominated pop songwriter and international socialite Denise Rich.

listing photos: Westside Estate Agency

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