BeIn a record-breaking deal, music royalty Beyonce and Jay-Z have snapped up a palatial Malibu mega-mansion for an astounding $200 million, establishing a new high-water mark for California home prices, as reported by TMZ.
Already owners of a stunning mansion in Bel Air's exclusive enclave, the ‘Crazy in Love' songstress, 41, and her rapper husband, 53, have eclipsed the previous record held by their new neighbor, venture capitalist Marc Andreessen.
Marc set the preceding bar with his $177 million purchase in 2021. This dazzling acquisition by the powerhouse duo, a 30,000-square-foot architectural masterpiece, is also the country's second priciest, following a $238 million Central Park South apartment purchased by hedge fund tycoon Ken Griffin in 2019.
Their new sprawling residence, located on an 8-acre bluff overlooking the Pacific Ocean in the Paradise Cove area - fittingly nicknamed Billionaires' Row - will be the retreat Beyonce returns to after her ongoing Renaissance World Tour.
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Despite the breathtaking price tag, the couple, parents to Blue, 11, and twins Rumi and Sir, 5, bagged the property below its initial asking price of a whopping $295 million.
Crafted by the lauded Japanese architect Tadao Ando, a Pritzker Prize winner recognised for his distinctive concrete edifices, the modernist, L-shaped mansion offers panoramic ocean views via its floor-to-ceiling glass panels.
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The home's design boasts expansive concrete hallways, a vast backyard with a pool, and culminates in a cliff overlooking the beach.
This minimalist paradise was initially built and owned by renowned art collector William Bell, who spent nearly 15 years constructing the concrete structure after purchasing the property for a mere $14.5 million in 2003, according to the Los Angeles Times.
© Photo: Getty ImagesThe mansion houses Bell's impressive private art collection, the New York Post reports.
Following their 2008 nuptials, Beyonce and Jay-Z have undertaken a series of substantial real estate investments. Their portfolio includes properties in New York City, New Orleans, the Hamptons, Miami Beach, and Los Angeles, as detailed by Architectural Digest.
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In 2017, they acquired an $88 million mansion in Bel Air, their first significant real estate endeavour in Los Angeles.
This home, now valued close to $100 million due to renovations and improvements, features four swimming pools, a spa and wellness centre, and a 15-car garage, among other luxuries.
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Following this, the couple purchased an East Hampton mansion, dubbed the Pond House estate, for $26 million - a Stanford White-designed property featuring hand-carved heated marble tubs and a full home automation system.
The dynamic duo's penchant for unique homes led to their 2015 acquisition of a Spanish Baroque style, a 13,300-square-foot historic residence in New Orleans' Garden District. This property had previously served as a church, a ballet school, and eventually, a private home.
Completing their enviable real estate portfolio, Beyonce and Jay-Z own a property in Miami's coveted Indian Creek Island, rubbing shoulders with high-profile neighbours such as Julio Iglesias, Adriana Lima, and billionaire Carl Icahn.
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