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Location: Los Angeles, Calif.
The Skinny: Paramount Pictures Chairman and CEO Brad Grey bought this Bel-Air mansion in 2009 for $22M, but a lot can change in four years. For one thing, Grey finalized his divorce and married his second wife. For another, he bought a 2.3-acre estate formerly owned by Frank Sinatra for $18.5M, tore down Sinatra's house, and then tried to sell the land for $20M. That—surprise!—didn't work out, so Grey has decided to build a new house on Ol' Blue Eyes' ol' property, and turn a nice little profit flipping the old one. Meanwhile, Grey's old house, which was built in 2006 and can't really be called "old" by any stretch of the imagination, is over 10,000 square feet with five beds and seven baths. His improvements, clearly being used to try and justify the 25 percent price increase, include landscaping and "decor touches." Curbed LA quips: "Unless the landscaping involved money trees, those must be a hell of a lot of decor touches."
· 385 Copa De Oro Road, Bel Air, CA [Westside Estate Agency]
· 385 Copa De Oro Rd [Trulia]
· Paramount CEO Brad Grey Selling in Bel Air, Building in Holmby [Curbed LA]