R
ichard Gere has sold his 31.8-acre Connecticut estate in New Canaan for $10.75 million, reports the New Canaan Advertiser. The Golden Globe-winning actor purchased the property two years ago from Paul Simon, a multi-Grammy-winning singer and songwriter, for $10.8 million.

    The sale appears to have taken place off-market, with the new owner's identity not immediately clear. However, it seems Gere sold at a slight loss. Property records show that when he bought the estate, he got a good deal - Simon had initially listed the Georgian-style property for $13.9 million in 2019 before reducing the price to $11.9 million and then $12 million.

    Simon had owned the estate since 2002, paying $16.5 million for it. Interestingly, he recorded multiple albums inside the five-bedroom main house, which is part of a larger compound that includes a three-bedroom cottage. Gere's decision to sell was likely driven by his desire to move to Spain with his wife, Alejandra Silva.

    The estate boasts several outdoor features, including gardens, a pool, and terraced patios. There's also a pond with a waterfall and walking trails.