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Demi Moore Is Dating Vito Schnabel: Report

By Andrea Billups

UPDATED 11/28/2012 at 02:10 PM EST • Originally published 11/28/2012 at 10:00 AM EST

Demi Moore is dipping her toe back in the dating world – with a much younger man.

The New York Post's Page Six column reports that Moore, 50, is quietly dating art world scion Vito Schnabel, 26.

"It's really happening," a nightlife source tells PEOPLE. "There was a time when Vito was kind of cool with [her ex Ashton Kutcher] – so it seems a little weird." The source adds that the pair are expected to be together during Art Basel in Miami Beach in early December.

Schnabel, an art dealer, is the son of painter and director Julian Schnabel. He and Moore were reportedly "dancing and grinding all over each other" at a party in Jodhpur, India, thrown by supermodel Naomi Campbell for the 50th birthday of her billionaire boyfriend Vladimir Doronin, according to the paper's account.

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The blooming romance comes a year after Moore's split after six years of marriage to husband Ashton Kutcher, 34. Kutcher is now dating his That '70s Show costar Mila Kunis, 29. Sources have told PEOPLE that the relationship has left Moore "jealous and frustrated."

Vito Schnabel is no stranger to beautiful women: When he was 21, he reportedly dated supermodel and actress Elle Macpherson. He has also been linked with actress Liv Tyler.