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The Post reports today that velvet mafioso David Geffen has dropped a wee $10 million on a condo at 158 Mercer Street (he also has a residence at 810 Fifth and an estate in Malibu, for which he fights relentlessly to keep commoners off of "his" beach). The Observer, however, notes that Geffen himself will not be living in the Mercer Street loft; he is one of three trustees listed on the deed-transfer record. The lucky new denizen of Soho is Saturday Night Live producer and fashion progeny Marci Klein, which the Post reported in April — though today, oddly, the paper makes no mention of Klein being the actual resident.

To recap: a music mogul is a trustee for Saturday Night Live producer's impressive new digs. Well, that's one way to get your artists on NBC.

Is David Geffen Moving to Mercer Street? [The Real Estate]
Gimme Shelter [NYP (2nd item)]