He didn’t do much, but media mogul David Geffen still walked away with a $3.75-million profit in Beverly Hills.
About a year after dropping $30 million on an empty 1-acre lot in the ultra-exclusive Billionaire’s Row enclave, Geffen just sold the land for $33.75 million to investor Randall Van Wolfswinkel.
When Geffen bought it last year, the vacant lot came with plans for a 24,500-square-foot modern mansion designed by architecture firm Shubin Donaldson. Blueprints called for seven bedrooms, 14 bathrooms, a bowling alley, nightclub, bar, theater, salon, gym and a giant 140-foot swimming pool — but so far, nothing has been built.
Perched on a hillside, the property boasts sweeping views that stretch from downtown Los Angeles to the Pacific Ocean.
The $33.75-million deal ranks among the priciest