Music industry legend David Geffen sold his Malibu compound overlooking Carbon Beach. Geffen quietly accepted an offer of $85 million for the property; he’d been asking $100 million, and had initially put it up for sale about two years ago.

Considered one of the most desirable properties in the greater Los Angeles area, the beachfront compound is comprised of five original parcels. The process of acquisition took over twenty years to complete, with Geffen purchasing the last parcel in 1999.

The property’s history as the basis of controversy is being sold along with it, part and parcel to the place. Geffen’s reluctance to relinquish any privacy in the face of the popularity of the Malibu beach location caused numerous public spats, and drove Geffen to use some eccentric methods of discouragement; he had false garages built to prevent parking outside his property.

There are structures on the stretch of grass include the main residence and a pair of guest houses. The sale of the privately-owned bit of oceanfront sprawl constitutes a real-estate record for Malibu, besting the standing record sale by $10 million.

David Geffen’s career began as a musical talent agent and manager; he co-founded Asylum records in 1970, signing a diverse roster of West Coast talent to the label. Ten years later, he founded Geffen Records. Geffen has also worked in the film industry, and co-founded DreamWorks. His net worth is estimated at $7.5 billion.