Australian billionaire James Packer listed his Los Angeles mansion for about $85 million in 2023; after…

Australian billionaire James Packer parted with his Los Angeles mansion, closing a chapter that drew wide attention across the world of luxury real estate. Listed in 2023 at around 85 million dollars, the sprawling Beverly Hills estate sold in 2025 for 60 million dollars, well below what its owner first hoped to achieve.

The property has twelve bedrooms, eighteen bathrooms, a celebrity past and a lavish entertainment suite, yet it still needed more than a year to find a buyer. Here is how the sale unfolded, what the estate offers, and what Packer did next.

Why the James Packer mansion sold for 60 million dollars, not the 85 million he wanted James Packer first listed the property in September 2023, hoping to achieve about 85 million dollars, which Domain put at roughly 132 million Australian dollars. After more than a year on the market, the estate sold for 60 million dollars (93.5 million Australian dollars).

That leaves the final price 25 million dollars, or close to 29 per cent, below the amount first sought. A sold sticker appeared on the online listing on a Monday, bringing the long wait to an end.

Inside the twelve-bedroom Beverly Hills estate with a wine cellar, cinema, cigar room and games room The home is a three-storey residence, built in 1930, set on a block of 0.76 hectares (1.88 acres) with twelve bedrooms and eighteen bathrooms. Outside, the landscaped grounds hold a pool, a spa and an outdoor dining area with an al fresco kitchen, while two garages complete the practical side of the property.

Inside, the entertainment spaces include a cinema room, a fitness room, a cigar room, a wine cellar and a games room fitted with a bar and billiards. Formal living and dining spaces round out the layout, and Domain noted they are ideal for entertaining guests.

Taken together, the facilities show why the estate was pitched at the very top of the Los Angeles luxury property market, where buyers expect extensive amenities. Danny De Vito, Jennifer Lopez and Ben Affleck, the star-studded history of this Beverly Hills mansion The home reportedly has a star-studded history.

Danny De Vito and Rhea Perlman owned it from the 1990s, then sold it to developers who rebuilt the residence before it passed to Packer. The property was also leased for a time by Jennifer Lopez and Ben Affleck.

Packer was said to have invested in upgrades during his ownership, adding further polish to an address already known for famous former residents. The listing agents were Santiago Arana of The Agency and Jade Mills of Coldwell Banker Realty.

Such a pedigree can lift public interest in a property, although in this case it did not prevent a sale well below the original asking price of 85 million dollars. Packer buys the former home of Gigi and Bella Hadid for a reported 110 million dollars The deal for the Beverly Hills estate was secured after Packer bought another home in the city.

He was reported to have spent 110 million dollars on the former home of supermodels Gigi and Bella Hadid, a purchase made in the same year as the sale of his earlier mansion. The move shows Packer remaining active in the Los Angeles property market, even as he accepted a far lower price than he first sought for the home he sold.

Crown Resorts sale, Nvidia and Meta shares and the Cairnton estate James Packer is the son of media mogul Kerry Packer, and he reported that he inherited the family media fortune after his father died in 2005. He once chaired Crown Resorts and sold the business to Blackstone for 6.23 billion dollars, producing a payday of 2.31 billion dollars.

In 2024, he ranked number 20 on the Australian Financial Review Rich List with estimated wealth of 3.98 billion dollars, a rise of 14.8 per cent on the previous year. About a third of his wealth is now held in listed shares such as Nvidia and Meta, and he is pursuing property deals.

The Packer family transferred its historic Cairnton estate in Bellevue Hill in 2024, lodging a conservative value of 73.5 million dollars on title records. You use AI every day.

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