Beyoncé and Jay-Z Break Records with $200 Million Purchase of California Mansion
Music power couple Beyoncé and Jay-Z have reportedly purchased the most expensive home ever sold in California for a whopping $200 million. The 30,000-square-foot mansion is located in Malibu and is designed by Japanese master architect Tadao Ando. The property sits on an 8-acre bluff overlooking Malibu's Paradise Cove, known as Billionaire's Row, and boasts breathtaking views of the Pacific Ocean. The property was previously owned by renowned art collector William Bell, who took almost 15 years to construct the all-concrete structure. The purchase is also reportedly the second most expensive real estate deal in the country, with the number one spot belonging to a $238 million penthouse in Central Park Tower in New York City.
Despite the hefty price tag, the couple managed to secure a great deal on the property as it was initially listed for $295 million. The purchase adds to the couple's impressive real estate portfolio, which already includes an $88 million Bel-Air mansion they bought in 2017. The couple, who have a combined net worth of over $3 billion, has faced mixed reactions from fans and critics alike, with some calling the purchase excessive and others labeling them as capitalists.
Interestingly, the purchase comes as no surprise, given the couple's lucrative business endeavors. Jay-Z has a net worth of $2.5 billion, while Beyoncé's net worth is estimated to be $450 million. The couple's latest investment in the Malibu estate is seen as a testament to their continued success.
The architectural masterpiece of concrete and glass was bought for $14.5 million by Bell in 2003, who brought in Ando to create the minimalist concrete design. The L-shaped home has floor-to-ceiling walls of glass and leads outside to a swimming pool, cabana, and a grass lawn perched on a cliff overlooking the Pacific Ocean. Luxury real estate agent Kurt Rappaport of Westside Estate Agency reportedly represented the buyers and the seller.
Overall, the purchase of the Malibu estate is a significant investment for the couple, adding to their already impressive real estate portfolio. The purchase is seen as a testament to the couple's continued success and wealth, which has made them one of the most prominent power couples in the music industry.
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