Introduction to James Packer’s Beverly Hills Manse

The Beverly Hills home once rented by Jennifer Lopez and Ben Affleck sold on Monday for $60 million, The Real Deal has learned.

The purchase price of 1028 Ridgedale Drive is down from its original 2023 ask of $85 million, but is now the year’s priciest deal in Beverly Hills, according to a review of Zillow records.

History of the Property

The property’s occupier lineage includes several heavy hitters. Aside from its recent high-profile tenants in Lopez and Affleck, Danny DeVito and Rhea Perlman called the address home for two decades before selling it in 2015 for $26.6 million, according to records. The most recent owner, records show, was billionaire James Packer, the former chair of entertainment company Crown Resorts and son of late Australian media mogul Kerry Packer.

Recent Transactions

Westside Estate Agency’s Kurt Rappaport and Carolwood Estates’ Drew Fenton represented Packer in the deal. Rappaport also represented the buyer but, when reached Monday, declined to comment on the mystery buyer citing a non-disclosure agreement.

Property Features

The home’s Multiple Listing Service listing says the 1930-built traditional-style home has 12 bedrooms and 18 bathrooms. Other highlights include a gym, office, pool house and guest quarters.

James Packer’s Real Estate Activities

1028 Ridgedale Drive is the latest major transaction by Packer, who has had a busy year so far in Los Angeles real estate. The businessman revealed in March to an Australian media outlet, news.com.au, his $110 million purchase of 630 Nimes Road in Bel-Air. The estate, which is nicknamed “Le Belvedere,” underwent extensive construction over the past five and a half years to practically rebuild the home from the ground up.

Upcoming Plans

Packer told the news outlet he intended to move into the 10-bed, 15-bath home mid-year. Rappaport and Fenton also represented Packer in the Nimes Road deal, sources told TRD at the time. It’s unclear who represented the seller, which those same sources described as a European limited liability company.

Conclusion

The sale of James Packer’s Beverly Hills manse for $60 million marks a significant transaction in the Los Angeles real estate market. The property’s rich history and luxurious features make it a unique gem in the area. As Packer continues to be active in the LA real estate scene, it will be interesting to see what his next move will be.

FAQs

• Q: Who was the previous owner of 1028 Ridgedale Drive?
  A: The most recent owner was billionaire James Packer.
• Q: How much did James Packer purchase 630 Nimes Road for?
  A: $110 million.
• Q: What is the name of the estate at 630 Nimes Road?
  A: “Le Belvedere.”
• Q: How many bedrooms and bathrooms does 1028 Ridgedale Drive have?
  A: 12 bedrooms and 18 bathrooms.