Record executive and producer David Geffen finalized a deal last week to buy the luxury penthouse apartment owned by socialite Denise Rich on Manhattan's Upper East Side for record-smashing $54million. Rich, 68, the Grammy-nominated songwriter who renounced her American passport in November, was originally asking $65million for the stunning 12,000 square-foot Fifth Avenue dwelling, but settled for a sum nearly 17 per cent lower than her asking price, according to the Wall Street Journal. Still, the deal marks the highest price ever paid for a co-op in Manhattan, according to Jonathan Miller, president at Miller Samuel Real Estate Appraisers & Consultants.
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