News
Top News

David Geffen Makes Off-Market Deal, Sells New York City Co-Op to Gas and Mining Tycoon

David Geffen Makes Off-Market Deal, Sells New York City Co-Op to Gas and Mining Tycoon

DreamWorks co-founder David Geffen continues to lighten his still mind-numbing residential real estate load with the off-market sale of a New York City co-operative apartment for $24.5 million to Russian-American gas and mining billionaire Eugene Shvidler. As reported by the eagle-eyed property gossips at Mansion Global, who sussed out the secret sale through property records, the septuagenarian media tycoon, Hollywood’s richest man with a net worth estimated by the bean counters at Forbes at around $8.5 billion, purchased the high-floor spread in 2010 for $14.17 million from fellow veteran entertainment industry power player Robert A. Daly, currently chairman of the American Film Institute, and celebrated Top 40 songwriter Carole Bayer Sager.

According to marketing materials from when it popped up for sale on the open market for a few months during the latter part of 2016 at $27.5 million, the approximately 5,000-square-foot aerie was designed by superstar American architect Charles Gwathmey and configured with two bedrooms and 2.5 bathrooms.

See full article on Variety