Anindito Mukherjee/Bloomberg via Getty Images
Amazon Chief Executive Jeff Bezos has purchased the Warner Estate from media mogul David Geffen for $165 million, according to people familiar with the transaction.
The deal marks a record for the Los Angeles area. The previous residential record was set late last year, when media executive Lachlan Murdoch paid roughly $150 million for Chartwell, a Bel-Air estate used as the Clampett residence in the television show “The Beverly Hillbillies.”
On 9 acres in Beverly Hills, the Warner Estate was designed in the 1930s for Jack Warner, the late former president of entertainment giant Warner Bros. The property had expansive terraces, sprawling gardens, several guest houses, a tennis court and its own 9-hole golf course. “No studio czar’s residence, before or since, has ever surpassed in size, grandeur, or sheer glamour the Jack Warner Estate on Angelo Drive in Benedict Canyon,” wrote veteran Los Angeles real-estate agent Jeff Hyland in his book, “The Legendary Estates of Beverly Hills.”
“I would say it’s one of the most beautiful properties in the world, let alone Los Angeles,” said local agent Kurt Rappaport. No real-estate agents were involved in the transaction, according to a person familiar with the deal.
Mr. Geffen bought the property for $47.5 million in 1990, setting the then-record for a Los Angeles area home. He couldn’t immediately be reached for comment.
Bezos Expeditions, an umbrella company for various endeavors including Mr. Bezos’s ownership of the Washington Post and his charitable foundation, also paid $90 million for a plot of undeveloped Los Angeles land, according to the person familiar with the deal. The land was purchased “as an investment,” the person said. The seller was the estate of Paul Allen, the Microsoft co-founder who died in 2018.
Earlier this year, Mr. Bezos purchased three New York apartments in a deal valued at around $80 million. If turned into a home, the three units at 212 Fifth Avenue would total over 17,000 square feet.
The post Jeff Bezos Buys David Geffen’s Los Angeles Mansion for a Record $165 Million appeared first on Real Estate News & Insights | realtor.com®.
source https://www.realtor.com/news/celebrity-real-estate/jeff-bezos-buys-david-geffens-los-angeles-mansion-for-a-record-165-million/
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