LOS ANGELES _ Less than two weeks after area real estate agents reported seeing moving boxes out front, David Geffen's Malibu compound appeared in public records as having sold for $85 million.
That's an eyebrow-raising sum in the pricey beach community. The most expensive sale previously recorded there took place four years ago for $74.5 million.
The Carbon Beach property has an East Coast vibe, with gray shingles and white trim exteriors. Kept under close watch by security, this stretch of Pacific Coast Highway is known as Billionaires' Beach for its wealthy homeowners, including the likes of titans Larry Ellison, Eli Broad and Jeffrey Katzenberg.
For years, music and movie mogul Geffen, 74, fought the California Coastal Commission to keep the public beach access-way next to the compound closed.
To discourage beachgoers from parking in front of the house, Geffen had fake garage doors put on a portion of the facade _ an action that gained the attention of "The Colbert Report" and the news media.
The estate contains a main house, guesthouses and a pavilion. An oceanfront swimming pool and spa, lawn and patios complete the grounds.
The property sold to a limited liability company.
