James Packer: Beverly Hills cops a loss as billionaire moves to Bel Air childhood home of Bella, Gigi Hadid
Australian billionaire James Packer has sold his Beverly Hills mansion for the incredible price of $US60 million ($93.57 million).
However, despite the whopping price, the deal was only made after the price was dropped from the $US85 million ($133 million) asking price when the 12-bedroom, 18 bathroom mansion was listed in late 2023.
It is $US3.8 million ($5.93 million) less than he paid for it, according to a report in The Wall Street Journal.
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US real estate listing site Zillow confirmed the sale of the home, which has housed a who’s who of Hollywood before being bought by Mr Packer.
This includes the former owners of the home built in the 1930s, actors Danny De Vito and Rhea Perlman.
The luxurious home was also rented out to Jennifer Lopez and Ben Affleck prior to Mr Packer buying the estate.
According to US reports, the sale also marks the highest price in the globally famous luxury suburb of Beverly Hills.
It is certainly an impressive residence sitting on 1.2 acres of prime land and containing multiple buildings including a large poolhouse and a separate home cinema.
Every room of the home is luxurious and large including a mammoth kitchen with marble benchtops throughout and a custom leather banquette.
The double-height entry hall features a classic black and white marble tile floor and sweeping staircase and there are further marble fireplaces throughout.
The home also features an impressive bar and cellar, along with a master suite with dual bathrooms, dressing rooms and a private verandah overlooking the home’s grounds.
There is also a beauty salon, gym and cigar room at the property that Mr Packer bought following his split from his wife Erica Packer.
The 57-year-old Australian billionaire and former Crown casino owner has already found a new home in Los Angeles.
The Australian reported a source confirmed Mr Packer had paid $US110 million ($174 million) in March for the childhood home of models Gigi and Bella Hadid.
Mr Packer also still retains a residence in Australia, the two-storey penthouse at One Barangaroo, which he bought off the plan for $72 million.
Originally published as Billionaire James Packer sells LA home for $93.57 million, at a loss
