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Paramount Pictures Chairman And CEO Brad Grey Asks $27.5 Million For Bel Air Mansion

Brad Grey, Chairman and CEO of Paramount Pictures, is selling his Bel Air mansion for $27.5 million.

According to reporting by the Wall Street Journal, the Greys are now selling the home because they have decided to build a new house on a 2.3-acre property in Los Angeles’s Holmby Hills. Mr. Grey bought that property, which once belonged to Frank Sinatra in the 1950s, in November 2010 for $18.5 million.

Brad and his second wife Cassandra Huysentruyt married at the new Holmby Hills property in front most of Hollywood’s A-listers back in April 2011, and have decided to build a new, modern estate on the property.

Now, the duo are divorcing their former estate – not each other – and moving on to their next great real estate adventure in Holmby Hills. Grey purchased the home at 385 Copa De Oro Rd for $22 million in March 2009, when he and Huysentruyt were dating and he was finalizing his divorce from his wife of 25 years.

Constructed brand new in 2006, the 5-bedroom, 7-bathroom home is over 10,500 square feet on a gated and completely private 1.1 acre lot. The home has spacious rooms that include dramatic two-story entry with curved staircase, paneled gentleman’s den and bar, over-sized living room that converts to professional theater/media, family room, large kitchen, breakfast room and formal dining room.

Upstairs, the master bedroom has glamorous his-and-hers separate bathrooms and closets, as well as a patio overlooking the sprawling grounds. Separated from the master are 3 additional en suite bedrooms connected by their own living room area.

The outdoor living area includes a covered loggia and open lounging areas beside the beautiful pool.

In Bel Air, Grey has no shortage of celebrity neighbors. This property is next door to the property that Nicolas Cage lost to foreclosure and across the street from Rick and Kathy Hilton.

Aside from this trophy property in primo Bel Air and the Holmby Hills teardown, Grey also owns a pricey co-op in NYC’s famous Carlyle.

Stephen Shapiro of The Westside Agency is Grey’s real estate agent.