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Hollywood mogul's estate purchase tops Hamptons list

Published Fri, Jan 20, 2017 · 09:50 PM
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New York

HOLLYWOOD mogul David Geffen's US$70 million purchase of an oceanfront estate topped luxury home sales last year in New York's Hamptons, but a sharp price drop after the No 2 spot reveals a dismal year, a local brokerage reported on Thursday.

A US$63.8 million sale of another oceanfront property in East Hampton, New York, to liquefied natural gas entrepreneur Michael Smith was the second-most expensive home sold in 2016 in the Hamptons, according to Town & Country Real Estate in East Hampton.

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