Estate of the Day

Paramount Chairman and CEO Brad Grey has bought a hacienda-style home in Los Angeles for $18.5 million. The six-bedroom home, which was lived in by Frank Sinatra's ex-wife Nancy Barbato was listed at $22.5 million when we first checked it out back in September. Grey, a Sinatra fan, recently sold his Pacific Palisades home for $21.5 million. His new home needs a bit of updating.