Why Richard Gere Just Sold His Connecticut Home for Nearly $11 Million Only 2 Years After Moving In

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Richard Gere has officially sold his Connecticut mansion for a pretty penny — just two years after moving in.

Though the Pretty Woman star, 75, fetched $10.75 million for his New Canaan abode that sold in late October, per the New Canaan Advertiser, it's still a $50,000 loss for Gere and his wife Alejandra Silva, who bought the expansive property from Paul Simon and wife Edie Brickell in 2022. (The Simon and Garfunkel singer, for his part, purchased the home with his wife for $16.5 million in 2002.) Not that the financial loss necessarily matters to Gere and Silva, 41, who sold their home not to flip it — but to move to Spain to be closer to Silva's family.

"For Alejandra, it will be wonderful to be closer to her family, her lifelong friends and her culture," the Runaway Bride star recently told Vanity Fair Spain. "She was very generous in giving me six years living in my world, so it is only fair that I give her at least another six living in hers."

Richard Gere attends the "Wisdom of Happiness" green carpet during the 20th Zurich Film Festival at Corso Green Carpet on October 08, 2024 in Zurich, Switzerland. The actor sold his Connecticut home for nearly $11... Joshua Sammer/Getty Images

Gere and Silva, who tied the knot in 2018 after four years of dating, have a blended family of four sons. Together, the couple share sons Alexander, 5, and a 4-year-old boy whose name they have yet to reveal. Gere is also father of son Homer, 24, whom he shares with ex Carey Lowell; Silva is also mom to son Albert, 11, whom she shares with ex-husband Govind Friedland.

While Gere has strong ties to both the Westchester County, New York, suburbs as well as the Connecticut suburbs — the actor and his family have lived in two different Westchester estates, and Gere owns the Bedford Post Inn in Northern Westchester — he's ready to experience all that Madrid has to offer.

"It is a beautiful place, the food is extraordinary and the people exude sensitivity and generosity, as well as a strong will to laugh and enjoy," Gere told Vanity Fair Spain. "So I'm looking forward to going there."

The Mothman Prophecies star previously gushed over life with his philanthropist wife to Hello! magazine in 2018.

"I'm the happiest man in the universe. How could I not be? I'm married to a beautiful woman who is smart, sensitive, committed to helping people, who's fun, patient, who knows how to forgive, who's a great cook, and who makes the best salads in the world!" Gere exalted.

At the time, he also touched on his love for her Spanish roots. "Alejandra meditates, she's a vegetarian, a great mother, has the touch of an angel, and she's also Spanish — the land of kings and queens, of Cervantes and Bunuel," Gere boasted. "You can't get any better than that."