MALIBU, CALIFORNIA: Jay-Z and Beyonce reportedly purchased a 30,000-square-foot mansion in the prime area of Malibu at a whopping price of $200 million, making it the most expensive house ever sold in California. The purchase reportedly edged out the state’s previous record of a property being sold for $177 million.
The real estate deal also became the second most expensive in the US with the highest being $238 million for a New York City apartment, TMZ reported. The power couple apparently bagged an “unbelievable deal” as the Malibu home was initially listed for $295 million, the publication noted. Mega-celebrity realtor, Kurt Rappaport, represented both the buyers and seller, as per the outlet.
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A look into Jay-Z and Beyonce’s newly-purchased home
Jay-Z and Beyonce’s newly-bought home is considered to be an architectural masterpiece and has been designed by the renowned Japanese architect Tadao Ando. The latter also designed Kanye West’s Malibu mansion that he acquired during his divorce from Kim Kardashian.
The house was initially owned and built by William Bell, one of the biggest art collectors in the world. Bell reportedly took 15 years to build the all-concrete property. The house currently sits on eight acres of gated space and overlooks the Pacific Ocean in the Paradise Cove area, also known as the Billionaires’ Row.
How many houses do Jay-Z and Beyonce own?
After their wedding in 2008, Jay-Z and Beyonce have owned several properties across The Hamptons, New York, and Los Angeles. The latest Malibu property is their second biggest real estate purchase in the Los Angeles area. Back in 2017, the couple bought their iconic 30,000-square-foot Bel-Air mega-mansion for $88 million. They reportedly opted for a $52.8 million mortgage to lock down the sale and spent another $800,000 on renovations to push the property over the $100 million mark.
Just a month after buying the Bel-Air mansion, the ‘Crazy in Love’ singers made another purchase and bought their 12,000-square-foot Hamptons retreat for $26 million. Also known as the ‘Pond House,’ the East Hampton home was built by Stanford White over 100 years ago and reportedly remained stagnant on the market for eight years before being purchased by Jay-Z and Beyonce.
In 2015, the influential couple also bought an unusual property, a 13,000-square-foot building from 1927, in the Garden District of New Orleans. Their unique home once functioned as a Presbyterian Church and was converted into a seven-bedroom, eight-bathroom house by the musicians. Unfortunately, the house caught fire in July 2021, prompting them to sell it the same month.