The property involved in this transaction is a single-family mansion located at 1028 Ridgedale Drive in Beverly Hills, encompassing 1.87 acres. The asset was sold for $60 million after being on the market for over a year. Originally listed at $132 million, the residence features 12 bedrooms and 18 bathrooms, along with various luxury amenities. It has had notable previous owners, including celebrities Danny DeVito and Jennifer Lopez, and has undergone significant upgrades by the seller, James Packer.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $60,000,000
• Address: 1028 Ridgedale Drive
• Market: Beverly Hills
• Seller: James Packer
• Brokers: Drew Fenton - Carolwood Estates
• Brokers: Kurt Rappaport - Westside Estate Agency

James Packer, the seller, is a billionaire and former chair of Crown Resorts, and the son of the late Australian media mogul Kerry Packer. His involvement in the luxury real estate market is noted for this property's significant upgrades prior to the sale.