Paramount Pictures CEO Brad Grey Lowers Price of New York Co-Op Penthouse to $19.75 Million

Paramount Pictures CEO Brad Grey has cut down the price for his New York Co-Op Penthouse from $22.5 million now $19.75 million based on the reports from The Real Today. The $3 million slash in price has not been confirmed yet by Deborah Grubman, his listing broker from the Corcoran Group.

Born in New York, Grey's career as a producer still stands strong enabling him to make huge profits on a deal. Grey, Brad Pitt's business partner and producer of "The Big Short" movie, purchased the property last 2011 for the price of $15.5 million. He bought the penthouse with wife Cassandra Huysentruyt following the birth of their firstborn Jules Andrew Grey in September.

The penthouse is a four-bedroom home he bought from Peter Schoenfeld. It comes as no surprise why Grey has purchased the pad. It has been a home for many famous celebrities and royalties such as Madonna, Rihanna, George and Amal Clooney. It is located at 35 East 76th Street in New York with breathtaking views of the Central Park. It also has large layouts and wood-paneled walls. The cost of maintenance of the house reaches to $46,687 every month.

Reports from Variety said that Grey will still be able to make a good deal despite the big chopped of the asking price. As can be remembered, the film mogul has also sold property last year. His home in Bel-Air which measures 10,616 square feet was sold to Sam Nazarian. But recently Bel-Air property is on the real estate listing.

Maybe Brad Grey has recognized the deflation in the real estate property to slash the price of his luxurious property according to the same report from The Real Today. He is just one of the many luxe property owners to cut down the price of their listing in the last few days despite the great deal of product in the market.