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Beats Cofounder Just Dropped $60 Million on Richard Gere's Old Place in Malibu

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Jimmy Iovine, the Interscope Records founder who made bank (again) last year when Beats Electronics, the company he founded with Dr. Dre, was bought by Apple for $3 billion, appears to be moving to the beach. He's just dropped a breathtaking $60 million on an unlisted Malibu property that sits on a bluff overlooking Paradise Cove. The price includes almost four acres of prime Malibu land spread over two adjacent parcels, plus a circa-1954 house with three bedrooms and four bathrooms. The seller was television producer Marcy Carsey (The Cosby Show, Roseanne), who purchased it from Richard Gere back in 2000 for $10 million. The house was never listed on the open market and news of the sale first hit the rumor mill last week, but now appears to be official, according to Blockshopper.

Details on the house are scant beyond its size and basic stats, but we know that the property has a fancy new lagoon-style pool, as well as a new tennis court; Variety says it besides the "large bluff-top main residence," there's also "a trio of recently renovated structures sprinkled around" the pool.
· Jimmy Iovine Digs Marcy Carsey's Paradise [Variety]
· Dr. Dre Just Bought the Brady/Bundchen Mansion for $40MM [Curbed LA]