WEA in the News: Holmby Hills estate of former Paramount chief Brad Grey fetches $70 million
The Grey Estate, the Holmby Hills home of late Paramount Pictures Chairman and Chief Executive Brad Grey, has sold for $70 million, according to real estate sources not authorized to comment publicly on the deal.
The transaction is among the priciest historically in the tony Westside pocket tucked in between Beverly Hills and Bel-Air, property records show. It trails only a handful of landmark deals: A pair of $100-million sales involving the Playboy Mansion and a modern spec compound now owned by Detroit Pistons owner Tom Gores; the $90-million sale of Owlwood; and the $74-million sale of the onetime Walt Disney estate.
Designed by Howard Backen, the modern farmhouse-style estate sits behind wood- and steel-framed gates on 2.2 acres of grounds. The 12,800 square feet of refined living space feature an open-plan kitchen and dining area, a sun room and a den with a wet bar. A barn-inspired and vaulted-ceiling great room provides a large communal space that opens to the grounds. Five bedrooms and a home theater complete the floor plan.
A central courtyard filled with olive trees is positioned between the wings of the home and holds a large fireplace and a reflecting pool. Adjacent to the courtyard are vegetable and herb gardens, an organic orchard and an outdoor dining area topped by a slatted-wood trellis. Also on the grounds is a two-story recreation facility that has two gyms and a blue-bottomed swimming pool. A raised bridge leads from the main house to the detached structure.
The property came to market in February at $77.5 million, but was removed from market prior to the sale, records show. It had been owned by a trust associated with the entertainment executive since 2010.
Grey, who died last year at 59, oversaw such movie blockbusters as the “Star Trek” and “Transformers” movies during his tenure at Paramount. As a talent manager and a producer, Grey helped bring “The Larry Sanders Show” and “Real Time With Bill Maher” to HBO. In 2001, he formed the production company Plan B Entertainment with Brad Pitt and Jennifer Aniston.
Stephen Shapiro of Westside Estate Agency and Linda May of Hilton & Hyland were the listing agents.
