David Geffen Drops $54 Million on Denise Rich's New York City Apartment (Report)

David Geffen with Cher and Neil Portnow.
David Geffen with Cher and Neil Portnow.
 Larry Busacca/Getty Images

The DreamWorks mogul plans to undergo two years of renovations on the seven-bedroom, 11-bath abode.

David Geffen is buying Grammy-nominated songwriter and socialite Denise Rich's seven-bedroom penthouse apartment on New York's Upper East Side for $54 million, the New York Post reports.

According to the paper, Rich had initially asked for $65 million for the duplex, which also boasts 12,000 square feet, 11 baths, three kitchens, a gym and Rich's recording studio (which Geffen wants to gut over the course of two years of renovations).

A DreamWorks representative did not immediately respond to THR's request for comment.

The DreamWorks mogul owns another apartment in the building on Fifth Avenue, right under Rich's digs; now that he's purchased hers, he plans to sell off the other one, the Post reports.

STORY: How David Geffen Romanced Cher and Built a Music Empire

The two have history: Geffen allegedly threatened to take legal action after complaining that a leakage from Rich's Jacuzzi had ruined his clothes and artwork. (A settlement followed.)

Rich, the ex-wife of mega-rich trader Marc Rich, listed her apartment back in January; in November 2011, she renounced her American passport in an apparent move to escape U.S. taxes. She has Austrian citizenship through her late father, according to Reuters.

 

 

 

Recommended Stories

comments powered by Disqus