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Brad Pitt’s Expensive Pet Project Up For Sale

May 19 2009, Published 8:26 a.m. ET

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Brad Pitt is planning to build a new pool cabana and deck while remodeling his Malibu home – but the estate is still up for sale if somebody puts in a big offer. has learned that The Benjamin Button star has just lodged new plans with the Malibu City Planning Department and plans to start the work as soon as they are formally approved.

The star – who bought the stunning estate for $8.4 million in 2005 after splitting with Jennifer Aniston – is reportedly looking to sell it for $18 million despite the recession. Neither he nor his partner Angelina Jolie have hardly spent any time living at the remote property recently and he may be doing the additions in a bid to entice some potential buyers to make a formal offer.

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An assistant told on Tuesday: “It’s all still up in the air - but if the right price comes along who knows?”

The estate includes a glass-walled contemporary house with a large swimming pool, tennis court, and A-list neighbors like Cindy Crawford and Leonardo DiCaprio. Pitt had also installed a state-of-the art security system with cameras and infra-red alarms to keep any unwanted intruders away. The architectural buff has already carried-out extensive renovations at his other Los Angeles estate in Loz Feliz to accommodate his partner Jolie and their six kids Maddox, 7, Pax, 5, Zahara, 4, Shiloh, 2, and 10-month-old twins Knox and Vivienne.

Jennifer Aniston

A real-estate insider confirmed: “The Malibu property is for sale at the right price despite the fact that a permit has been lodged to carry-out some renovations.”

“It is in a stunning location and despite the fact that the market is not at its peak right now somebody could still put in a great offer.”

A spokesman at Malibu City Planning Department confirmed that they had received a notice of application for a coastal development permit on the property.

(Photos: Wenn/Pacific Coast News)



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