David Geffen Buys Courtney Sale Ross' East Hampton Estate

12:30 PM PST 04/09/2014 by Alexandria Abramian
PRNewsFoto/Motion Picture & Television Fund
David Geffen

The media mogul pays just over $50 million for the property, which was originally listed at $75 million.

David Geffen has purchased Courtney Sale Ross’ East Hampton estate for just over $50 million, reports Page Six. The mega estate, located on an ultra-exclusive private lane between Georgica Pond and the ocean, was originally listed for $75 million last year.

Geffen reportedly paid in the low $50 millions for the 5.5-acre estate that includes a 7,500-square-foot, seven-bedroom main house, a three-bedroom guest house and more than 460 feet of frontage directly on Georgica Pond. There is also a dock, a pond-facing swimming pool and the ability to subdivide the grounds into four separate parcels. Neighbors include Steven Spielberg, Kelly Klein and Harry Macklowe.

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This marks the second major real estate sale for Ross of late. In 2012, the philanthropist and widow of late Time Warner CEO Steven Ross, sold her mega-duplex in Manhattan’s 740 Park for a then-record-breaking $52.5 million.

The purchase comes amid another potential Hamptons real estate deal. Page Six also reports that Christie Brinkley may soon put her 21-acre Tower Hill estate, designed by architect ex-husband Peter Cook, on the market. The Bridgehampton property has been on and off the market for several years with a $30 million price tag.

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