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Geffen’s new property, Cody House, an estate which covers around six acres in the East Hampton’s was originally listed at $75 million.
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According to reports in the real estate industry pop music entrepreneur David Geffen has acquired the estate, currently owned by Courtney Ross, widow of the former Time Warner head, Steven J. Ross, paying in excess of $50 million for the sprawling estate.
The property, which has become known over the years as “Cody House” after its owner, reportedly has a lot going for it, being situated in one of East Hampton’s most prestigious suburbs, boasting its own private lane between the Georgica Pond on which the property nestles and the ocean front, a short walk away.
The Cody House estate actually comprises four separate lots, with the most predominant being a 7, 500-square-foot house, which comes with seven bedrooms, two fireplaces, a fitness room, library, and a home office. Also included in the deal is a separate a three-bedroom guest house, and two and two other lots which are currently vacant.
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On a quiet evening in the East Hamptons, Geffen can even take a quiet stroll down to one of his near neighbors Steven Spielberg, who just happens to be his partner in DreamWorks SKG, which they founded together in 1994 with Jeffrey Katzenberg.
As well as his East Hamptons property, Geffen currently owns what was until recently New York city’s most expensive co-op, a penthouse triplex on 5th Avenue valued at around $54 million.
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David Geffen sprang to prominence in the music business when he established the Asylum Record label in 1970, following that up with Geffen Records ten years later, and DGC Records ten years after that, as well as being one of the founding members of DreamWorks.
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