Focus on TRD Data: Priciest Beverly Hills Single-Family Sale

Beverly Hills’ top single-family sale last quarter was 1028 Ridgedale Drive, which Australian billionaire James Packer sold for $59.6 million in April, according to Los Angeles County tax assessor records.

This is the latest installment in a feature providing a weekly update on quarterly top sales by market segment, based on TRD Data.

Packer’s transaction was one of two single-family deals that closed in the city at over $50 million in the second quarter. (The other was 942 North Alpine Drive, which went for $51.8 million in the same month.) You can see the top 10 by clicking here.

The price paid by Stancheck Capital LLC for the two-story estate at 1028 Ridgedale Drive was a reduction from its original 2023 ask of $85 million.

Packer, a billionaire and the former chair of entertainment company Crown Resorts, bought the 12-bedroom, 18-bathroom mansion for over $60 million in July 2018.

A white mansion with a black front door and black shutters, the home was built on 1.2 acres in 1930. The home spans 24,325 square feet of living space across a number of structures. Amenities include gym, office, pool house and guest quarters, theater with bar, game room, wine cellar and cigar room.

Kurt Rappaport of Westside Estate Agency and Drew Fenton of Carolwood Estates represented Packer in the deal. Rappaport also represented the buyer.

Jennifer Lopez and Ben Affleck rented the home and Danny DeVito and Rhea Perlman lived there for nearly two decades before selling it to developers Stuart and Stephanie Liner in 2015 for $26.6 million, according to records. The Liners then extensively renovated the estate.

The sale comes on the heels of Packer’s $110 million purchase of “Le Belvedere” at 630 Nimes Road in Bel-Air in March. The estate underwent extensive construction over the past five and a half years to basically rebuild the home from the ground up. Packer told an Australian media outlet, news.com.au, in March that he intended to move into the 10-bed, 15-bath home mid-year.

Packer was the largest shareholder in Crown Resorts, a casino operator, before U.S. private equity giant Blackstone bought it in February 2022 for $6.4 billion. He is the son of late billionaire Kerry Packer, an Australian media tycoon.