Jay-Z and Beyoncé have recently acquired an exceptional architectural masterpiece in Malibu, California. This remarkable residence spans an impressive 30,000 square feet and is situated in a highly sought-after location.
According to reliable sources in the real estate industry, the couple purchased the property for a staggering $200 million, setting a new record for the highest-priced home ever sold in the entire state of California.
This surpasses the previous record of $177 million. It is worth noting that this transaction also ranks as the second most expensive real estate deal in the country, with the highest spot held by a $238 million apartment in New York City.
Interestingly, Jay-Z and Beyoncé managed to secure an incredible deal, considering the property was initially listed at a whopping $295 million. The house is positioned on an 8-acre bluff, offering breathtaking views of the Pacific Ocean in the Paradise Cove area, often referred to as Billionaires’ Row.
Adding to its allure, this architectural gem was designed by the esteemed Japanese master architect, Tadao Ando, who is also involved in designing Kanye West’s residence in Malibu.
Previously owned and built by William Bell, one of the world’s most prominent art collectors, the construction of this all-concrete structure took nearly 15 years to complete.
It is noteworthy that this is not the couple’s first significant real estate purchase in the Los Angeles area. In 2017, they acquired a mansion in Bel-Air for $88 million, investing additional millions to surpass the $100 million mark. Both the buyers and the seller were represented by the renowned celebrity realtor, Kurt Rappaport. We have reached out to his office for comments but have yet to receive a response.
Source: lux.justbartanews.com
