David Geffen sells an empty 1-acre lot in Beverly Hills for $33.75 million

He didn’t do much, but media mogul David Geffen still walked away with a $3.75-million profit in Beverly Hills.



Sandwiched between two mega-mansions, the empty 1-acre lot takes in sweeping views of the city and ocean. (NearMap)


© (NearMap)
Sandwiched between two mega-mansions, the empty 1-acre lot takes in sweeping views of the city and ocean. (NearMap)

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.

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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

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David Geffen Flips Vacant Beverly Hills Parcel for $34 million to Randall Van Wolfswinkel

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So the tongue-wagging Platinum Triangle real estate scuttlebutt goes, billionaire real estate developer Randall Van Wolfswinkel has over the last year or so peeped and poked around just about every trophy home for sale in Beverly Hills with a price tag under $100 million. But, in the end, the property mad developer decided on an undeveloped lot along what is arguably one of the best and most expensive streets in the famously high-priced Trousdale Estates area of Beverly Hills, paying $33.75 million in an off-market deal for a vacant one-acre parcel that was sold at a multimillion-dollar profit by David Geffen.

Set along a high, ridgeline cul-de-sac of nine homes, each with a more compelling bird’s eye view than the last, the scraggly, unkempt property has been sold half a dozen times over the last 12-or-so years, and somewhat improbably in the process

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David Geffen Sells Beverly Hills Land for $34 Million

David Geffen and 1169 N. Hillcrest Road (Getty, Google Maps)
David Geffen and 1169 N. Hillcrest Road (Getty, Google Maps)

Billionaire mogul David Geffen sold a development site in Beverly Hills for $33.8 million, more than a year after he bought the mansion-ready property, The Real Deal has learned.

The buyer of the 1-acre parcel at 1169 North Hillcrest Road is Santa Barbara investor, who sources declined to identify. The sale closed Nov. 20.

Geffen paid $30 million for the property in July 2019. It includes plans for a 24,500-square-foot mansion designed by architectural firm Shubin Donaldson. According to PropertyShark, the property has changed hands six times since 2013, with no owner holding onto the land long enough to develop it.

The sale is the latest in what has been a prolific year of real estate deals for the founder of Geffen Records and former DreamWorks executive and co-creator. Geffen set a record in February for the priciest single-family home

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South Hills real estate transactions for the week of Nov. 29

Baldwin Borough

Bishal Chudal sold property at 1641 Beryl Drive to Durga and Kharga Gurung for $170,000.

John Schmotzer sold property at 5566 Brownsville Road to 134 Suthoff LLC for $168,000.

Edna Kiley sold property at 1612 Carmella Drive to KEQ Holdings LLC for $59,900.

Daniel McArdle sold property at 5050 E Willock Road to Theodore and Dianne Lorraine Carter for $370,000.

Daniel Burgman sold property at 4929 Gardenville Road to Nicole Carretta for $162,000.

Paul John Kaslewicz sold property at 1135 Marlane Drive to William and Julie Skonsky for $245,000.

Matthew Paul sold property at 100 Pamela Drive to Ryan Rai for $315,000.

Estate of William Stokes sold property at 11 Sunny Drive to William and Judith Tomlinson for $150,000.

Paul Contos Jr. sold property at 1610 Towervue Drive to

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Comanche Hills Happy Holiday Land Sale

On Saturday and Sunday, December 5 and 6. Comanche Hills will host a Happy Holiday Land Sale. Save $20,000 off a new barndominium shell and 10 acres, on sale, for only $109,900.

Centrally located near Fort Worth and Austin, Comanche Hills offers a place where one can live a slower pace of life. Relax and unwind, while still being close to big city conveniences and premier water recreation on Proctor Lake. The homesites at Comanche Hills are ready to build and offer modern amenities including a gated entrance, private roads, peaceful ponds, and electric. Plus, Comanche Hills gives one the added benefit of low taxes through a wildlife exemption.

The best part about purchasing property at Comanche Hills is the peace of mind customers will experience from working with Lone Star Land Partners, a company backed by over 50 years of experience in the land development business. Property owners can

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For Sale: Beautiful Family Home In Vestavia Hills

VESTAVIA HILLS, AL — With five bedrooms, three full bathrooms and two half baths, this brick home with a spacious floor plan is perfect for a large family, especially when you consider it is within walking distance to one of the most desirable elementary schools in the metro area.

  • Address: 2005 Hickory Rd, Vestavia Hills, Alabama
  • Price: $875,000
  • Square Feet: 3906
  • Bedrooms: 5
  • Bathrooms: 3 Full and 2 Half Baths
  • Built: 2006
  • Features: Fabulous family home situated on a great lot in Vestavia’s most desired neighborhood. Walk to East Elementary. Off the foyer you’ll find a cozy study/office as well as large formal dining room, with opening to the kitchen. Kitchen has tons of cabinets, granite countertops, eat-in area & walk-in pantry. Living room is just off the kitchen through lovely arched opening & opens to a large, amazing screened porch with woodburning fireplace. Grilling patio is located off the
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San Marino Woman Buys $60 Million Beverly Hills House

More than three years after it first hit the market, one of the Los Angeles market’s most notorious spec-mansions — the real estate white elephant formerly known as Opus — has finally found a buyer. The 20,000-square-foot contemporary made global headlines in summer 2017, when it debuted with a $100 million asking price and perhaps the raciest real estate marketing campaign of all time: a promotional video showing nude women, covered in gold paint, cavorting together in bed.

The decidedly unsubtle message to sex-starved tech entrepreneurs and other businessmen: cash in your latest app, sell your company. Buy this house and you’ll buy a harem of women to go with it; live like a modern-day Casanova. An appropriate message for the L.A. buyer pool, perhaps, but the plan failed.

It took a change of realtors, multiple price reductions — to a final $60 million ask — and a second,

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Berkeley CA home in hills with views of Bay for sale

A house designed by architect Gerald McCue in the Berkeley Hills that recently hit the market for $4.3 million proves that elegance and drama in a home can be simple and natural, too.

The property at 2902 Buena Vista Way is one of the most expensive listings in the city.

“This house is a rare find, on coveted Buena Vista Way, with other distinctive homes by the likes of Maybeck, John Hudson Thomas and Walter Radcliff,” according to the listing. “In the spirit of McCue’s original vision and the bucolic setting, the current owners lifted this home to the next level of elegant simplicity while preserving its bones and providing for the needs of a modern family.”

The home offers “jaw-dropping” views of San Francisco and the bay, according to the listing.

McCue, the former chairman of UC Berkeley’s department of architecture and former dean of Graduate School Design at

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Fresh off a $45.5 million sale, Rob Lowe reportedly picks up homes in Beverly Hills and Montecito

The actor Rob Lowe has traded in his massive oceanside retreat in Montecito, CA, for smaller purchases in Montecito and Beverly Hills, Variety reports.

The “Parks and Rec” star snapped up a spot in 90210 for $3.75 milliion in October. The Beverly Hills home hit the market in September for $3,695,000, and Lowe and his wife, Sheryl Berkoff, actually paid slightly over ask to get their dream home — or a dreamy investment property.

It’s quite the change from the grand digs they owned in the ritzy celebrity enclave near Santa Barbara. The couple sold their massive, custom-built estate in an off-market deal for $45.5 million.

However, the Beverly Hills buy was just one of more to come. The couple reportedly also used their spending power to snag a smaller Montecito fixer-upper for $5.2 million, Variety spotted. The dated 1970s decor seems to suggest they may not move into that

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Sheriff Sale Homes in Fairless Hills, PA

Fairless Hills is a census-designated place (CDP) in Bucks County, Pennsylvania, United States. The CDP is located within Falls Township. The population was 8,466 at the 2010 census.

History

Fairless Hills as it is known today began in 1951 when developer Danherst Corporation began erecting prefabricated homes built by Gunnison Magichomes, Inc. Gunnison was a wholly owned subsidiary of U.S. Steel. The development was financed by U.S. Steel with a loan of $50 million. It was named in honor of Benjamin Fairless, then president of U.S. Steel, which operated the “Fairless Works” plant which employed most of Fairless Hills’ homeowners at the time.

The Sotcher Farmhouse was listed on the National Register of Historic Places in 1977.

Geography

Fairless Hills is located at 40°10′44″N 74°51′11″W (40.178909, -74.853044).

According to the United States Census Bureau, the CDP has a total area of 1.9 square miles (4.9 km2), of which

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