Jay-Z, Beyoncé buy most expensive home ever in California for $200M
Beyoncé and Jay-Z reportedly splashed out a whopping $200 million for a Malibu oasis designed by the identical architect who’s crafting Kanye West’s oceanfront home.
That value makes it the most expensive home ever to promote in California. However, it’s not the priciest home to promote in the nation. That honor belongs to hedge fund titan Ken Griffin, who shelled out about $238 million in 2019 for a four-level home inside 220 Central Park South in New York City.
According to TMZ, the couple bought the 40,000-square-foot Malibu home set on 8 acres from William Bell Jr. — one of many largest artwork collectors in the world.
Bell took nearly 15 years to construct the all-concrete construction — concrete being a staple materials of the architect behind the design — with practically $100 million in loans. It appears like he’s strolling away with a revenue.
According to the development firm, the home options Bell’s personal artwork assortment.
Design options additionally embrace a water function and a pool — all whereas using 7,645 cubic yards of concrete.
But it appears just like the couple walked away with a discount.
The property was quietly shopped round for $295 million initially.
Overlooking the Pacific Ocean in the unique Paradise Cove enclave, the home was designed by the Pritzker-winning Tadao Ando, one of many world’s most revered architects.
The home is perched atop the Malibu cliffs.
This is Jay-Z and Beyoncé’s second large actual property buy in the state.
In 2017, they purchased a Bel-Air mansion for $88 million, and invested hundreds of thousands extra into the home for it to be value near $100 million in the present day.
Mega-celebrity dealer Kurt Rappaport repped each side of the deal.