Beats Cofounder Jimmy Iovine Just Bought This Malibu Mansion For $60 Million

Beats co-founder Jimmy Iovine is in the process of making a serious real estate upgrade. The music mogul has quietly purchased the Malibu home of television producer Marcy Carsey in a secret, off-market deal, Curbed LA has confirmed.

The sale price was a cool $60 million. Variety first reported the rumored purchase last week.

Carsey bought the home from Richard Gere for $10 million in 1995.

The three-bedroom home is made up of two parcels totalling nearly four acres of land.

In addition to the main house, which is perched on top of a bluff near Paradise Cove, there's also a small beach hut and a recently renovated lagoon-style pool.

There's also a tennis pavilion situated closer to the main road.

Iovine currently lives in a 15,000-square-foot mansion in Los Angeles' Holmby Hills neighborhood. He purchased the home for $7 million in 1998, according to Variety.