James Packer Pays $110M for Home Once Owned by Mohamed Hadid

Australian billionaire James Packer just plunked down $110 million for a Bel-Air mansion some market watchers say could crack open dealmaking for L.A.’s pipeline of $100 million-plus listings.

Often referred to as “Le Belvedere,” the home at 630 Nimes Road was built nearly from the ground up over the last five and a half years. The estate has 10 bedrooms with 15 bathrooms, indoor pool, outdoor pool, spa and wellness center.

Packer is the former chair of Crown Resorts and is the son of the late Australian media mogul Kerry Packer.

The businessman told Australian media outlet news.com.au he expects to make the move into his new pad mid-year.

Westside Estate Agency co-founder Kurt Rappaport and Carolwood Estates co-founder Drew Fenton represented Packer in the deal, according to sources. The seller is a limited liability company based in Europe, those same sources said. It wasn’t immediately clear who represented the seller.

Rappaport and Fenton did not respond to multiple requests for comment.

The deal is the priciest sale so far this year in L.A. and Orange counties.

“The high-end market in L.A., $100 million-plus, is back,” said one industry source.

Le Belvedere, prior to its most recent construction work, was over 35,000 square feet and counted an elevator, 14 fireplaces, Moroccan-inspired room, swan pond and card room among its highlights.

Developer Mohamed Hadid, father to supermodels Gigi and Bella Hadid, sold the home in 2010 for $50 million. He then reportedly leased back the property.

The late Jeff Hyland, former president and co-founder of Hilton & Hyland, told The Real Deal at the time that Mohamed Hadid attempted to buy the property but “could not find anyone to back him” on a deal.

Le Belvedere most recently traded in 2018 for $56 million, after being originally listed for $85 million in late 2016.

Real estate developer Max Fowles-Pazdro bought the home through an LLC, according to a Wall Street Journal report, and is the last known owner on record for the property.

Correction: This story has been edited to reflect the accurate price in dollars.