The property at 338 North Rodeo Drive sold for more than $400 million, making it one of the highest sales in Beverly Hills. Previously purchased for $81.5 million in 2007, it was refinanced at $160 million in 2017. This sale may set a record for the Rodeo Drive area, as it highlights the significant development potential of the site. Other high-value retail property sales on Rodeo Drive include notable transactions by LVMH and others, underscoring the street's commercial significance. Separately, Rick Caruso's nonprofit contributed $1 million to aid small businesses affected by wildfires.
The 338 North Rodeo Drive sale could be a one-property record for the famed street, and the building may have fetched the lavish price because of its development potential.
Ronan McNamee's ECA Capital Limited sold a 28,000-square-foot property on Rodeo Drive for more than $400 million, marking the second-highest sale ever in Beverly Hills.
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