Executive trade: Former home of Paramount Chairman Brad Grey sells to private equity head for $69M
The buyer, Bruce Karsh, is co-chairman of Oaktree Capital
A private equity executive purchased a Holmby Hills estate which was owned by former movie studio executive Brad Grey for $68.8 million.
Bruce Karsh, co-founder of Los Angeles-based Oaktree Capital Management, acquired the five-bedroom home. It hit the market at $77.5 million in February.
The Howard Backen-designed residence on Carolwood Drive has two kitchens, a gym, swimming pool with hot tub and Pilates studio, Mansion Global reported. It was completed in 2016, a year before Grey, a former Paramount Pictures chairman, died of cancer.
Stephen Shapiro of Westside Estate Agency and Linda May of Hilton & Hyland shared the listing. May also represented the buyer.
Grey and his wife, Cassandra Huysentruyt Grey, bought the property through a trust in 2010 for $18.5 million, property records show. After a few unsuccessful attempts at flipping, they ultimately decided to build on the land instead.
Karsh and his wife, Martha, an attorney and business owner, also own a property in Brentwood, purchased from Karsh’s business partner Howard Marks, for over $33 million. [MG] — Natalie Hoberman