Jay-Z, Beyoncé break California record with $200M home buy
Beyoncé and Jay-Z reportedly splashed out a whopping $200 million for a Malibu oasis designed by the same architect who’s crafting Kanye West’s oceanfront home.
That price makes it the most expensive home ever to sell in California. However, it’s not the priciest home to sell 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 purchased the 40,000-square-foot Malibu home set on 8 acres from William Bell Jr. — one of the largest art collectors in the world.
Bell took almost 15 years to build the all-concrete structure — concrete being a staple material of the architect behind the design — with nearly $100 million in loans. It looks like he’s walking away with a profit.
According to the construction company, the home features Bell’s private art collection.
Design features also include a water feature and a pool — all while utilizing 7,645 cubic yards of concrete.
But it looks like the couple walked away with a bargain.
The property was quietly shopped around for $295 million initially.
Beyoncé and Jay-Z shelled out $200 million, the priciest ever in the state of California, for a Malibu estate.
A layout of the home. Beeson Pervious Concrete
The driveway. Beeson Pervious Concrete
The home took 15 years to build. Morely Construction
Overlooking the Pacific Ocean in the exclusive Paradise Cove enclave, the home was designed by the Pritzker-winning Tadao Ando, one of the world’s most respected architects.
The home is perched atop the Malibu cliffs.
The pool. Morely Construction
The entire home is built with concrete. Morely Construction
Another angle of the home. Morely Construction
This is Jay-Z and Beyoncé’s second massive real estate purchase in the state.
In 2017, they bought a Bel-Air mansion for $88 million, and invested millions more into the home for it to be worth close to $100 million today.
Previous 1 of 3 Next Advertisement The layout plan. Morley Construction A high-tech water feature. Morley Construction Advertisement
Mega-celebrity broker Kurt Rappaport repped both sides of the deal.
Source: New York Post
