Paramount's Brad Grey Lists Former Frank Sinatra Home for Sale

Paramount Pictures CEO Brad Grey has listed for sale the Holmby Hills home he bought in mid-November and is asking $23.5 million for the former Frank Sinatra-owned property.

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Paramount’s Brad Grey Buys Frank Sinatra’s Home for $18.5 Million

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Grey purchased the seven-bedroom North Carolwood Drive residence from an undisclosed seller for $18.5 million. The executive's real estate agent, Stephen Shapiro of Westside Estate Agency, said in an e-mail interview that Grey and his wife Cassandra Huysentruyt have "fallen in love" with another home Grey owns nearby in Bel-Air and have opted to remain there. Grey and Huysentruyt were married at the Carolwood house earlier this year.

The Carolwood house is situated on 2.3 acres in a prime neighborhood that is also home to Danny DeVito and Rhea Perlman, philanthropist Suzanne Saperstein, and television producer Bradley Bell, son of The Young and the Restless and The Bold and the Beautiful creator William Bell.

Shapiro said that Grey had considered a significant remodel of the 8,631-square-foot red brick Mediterranean home or possibly building a new house there, which could have taken up to three years. Grey opted to not deal with the lengthy construction project, said Shapiro, chairman of Westside Estate Agency, who represented Grey when he purchased the property last year. At the time, it had been listed for $22.5 million.

The property includes a motor court, chauffeur’s quarters and swimming pool. The house has four main bedrooms and a staff wing with three others. It also includes two libraries and a garden room. The residence is next door to Saperstein’s 35,046-square-foot Fleur De Lys estate, which is on the market for $125 million.

Grey, a Sinatra fan, also had a connection to the late singer, who lived at the house in the late 1940s. THR reported in December that Grey first met Sinatra in Buffalo, N.Y., when the executive, 18 years old at the time, was working as a concert promoter. Grey later connected with Sinatra's family when he was producing The Sopranos -- which used some of the singer's music.

Sinatra bought the house in 1948 for $250,000, but had a short, rocky tenure there. James Kaplan, author of the biography Frank: The Voice, previously told THR that in 1950 Sinatra’s soon-to-be ex-wife Nancy Barbato Sinatra changed the locks at their residence and they divorced a year later.

Email: Daniel.Miller@THR.com

Twitter: @DanielNMiller