Jay-Z and Beyoncé Purchase the Most Expensive Home in California History
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At “Opus,” an $85-million slab of marble and gold on Hillcrest, in Trousdale, McClean shows me how he designed a full-size, subterranean swimming pool beneath a massive skylight. McClean tends to design long, skinny pools—multiple per property, despite the fact that California has been suffering from a severe drought since 2014—that take advantage of the jagged lots he builds on. They usually have the same proportions of a ruler, with an infinity runoff. This particular so-called basement feels more like a shimmering grotto.
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A sprawling outdoor area adds another 10,000 square feet, according to the Los Angeles Times. Spa and wellness facilities, bulletproof windows and four swimming pools are just a few of the amenities said to come with their pricey pad, which reportedly carried an asking price of $135 million. The deal stands to be the biggest real estate transaction in Los Angeles County this year. The median price for a single-family home in the city has more than doubled since 2016, to nearly $7m. Some of Malibu’s new elite homeowners are now cobbling together multiple properties to build mega-luxury compounds, according to the Journal.
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Nevertheless, developers continue to hunger for size, and McClean delivers a stealth blockbuster, appearing to effortlessly circumvent such rules. McClean has cornered the .1% housing market by building grandiosity in the most minimal of architectural styles. Consider what a gigamansion might look like, tricked out with top-of-the-line security, staff quarters, and, in the case of Beyoncé’s new home, bulletproof windows. One does not envision, say, an austere Frank Lloyd Wright house at one with the nature around it. The “Crazy In Love” collaborators reportedly got a great deal on the structure, as it was actually listed for $295 million.
Jay-Z & Beyonce Buy Most Expensive Home In CA Ever: See 5 Photos Of $200M Malibu Mansion
A source confirmed to PEOPLE in June that, despite touring "every luxurious mansion on and off the market," the pair couldn't settle on a property that met all of their needs. Art collector William Bell, its previous owner, spent 15 years building the all-concrete structure. “Opus,” a Trousdale mansion originally listed for $100 million and developed by Niami and designed by McLean, is now $85 million. Has passed several anti-“mansionization” ordinances, some which restrict a home’s size based on the percentage of its lot it occupies. Residents of Bel Air even formed a homeowners alliance to dissuade the development of mega-properties such as “The One,” which is three times the size of the Taj Mahal. And naturally, local realtors and architects have resorted to name-calling, many referring to McClean as the dreaded developer-architect.
Photos: Beyoncé and Jay-Z purchase $200 million Malibu mansion - Business Insider
Photos: Beyoncé and Jay-Z purchase $200 million Malibu mansion.
Posted: Sun, 21 May 2023 07:00:00 GMT [source]
The home was designed by Japanese architect Tadao Ando, who is notably also working on a house for rapper, Kanye West, 45. It is the most expensive home ever sold in the Golden State and the second most expensive in the United States, per the entertainment outlet. Bey and her man scored an amazing deal, as the Malibu property was originally listed for a staggering $295 million. The colossal concrete compound sits on 8 acres of pristine land off the Southern California coast and has its own private beach, swimming pool, and a water feature in addition to the 40,000 square foot residence. Beyoncé and Jay-Z, no strangers to flashy real estate deals, reportedly upgraded from their $88 million mansion in Bel Air, Calif., to a $200 million Malibu property last month, officially erasing the line between going big and going home.
According to Dirt, more than 22,500 square feet of polished pervious concrete was used for the estate’s driveaway and motor courts alone. For the home, it’s estimated that more than 7,645 cubic yards of concrete was used. According to TMZ, Beyoncé and JAY-Z have purchased a 30,000-square foot home in Malibu for a record-breaking price tag of $200 million.
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In 2017, the couple — who tied the knot in 2008 and share three children — bought a home in Bel-Air for $88 million, according to TMZ. “some of y’all are mad that they’re spending THEIR money the way that THEY want to??? It’s clear y’all are insanely jobless,” wrote a supporter of the couple. “Who tf buys a house that costs this much bro that’s so useless you could buy SO much land to save the earth but you rather spend it on a f–king house…💀,” wrote another. As part of your account, you’ll receive occasional updates and offers from New York, which you can opt out of anytime.
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The mastermind behind the “Star Wars” and “Indiana Jones” franchises has reportedly spent more than $100 million to develop a 4,700-acre property in secluded Nicasio, Calif., a rural patch north of San Francisco. Aptly called Skywalker Ranch, the property includes a man-made lake, a restaurant and a fire station, as well as sound-mixing and recording facilities. Last summer, the Snap co-founder and chief executive Evan Spiegel, who became a billionaire at 25, and his supermodel wife, Miranda Kerr, closed on a $120 million estate in the Holmby Hills neighborhood of Los Angeles. Dirt reported that the purchase was even more eye-watering — Mr. Spiegel also snapped up a $25 million parcel next door, bringing to total value to $145 million. Beyoncé and Jay-Z, who have bought and sold multimillion-dollar homes in Miami, New Orleans and the Hamptons, are now in a rarefied club of celebrities who own properties worth $100 million or more.
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The style is a take on the area’s iconic midcentury modern, metaphorically pumped up with steroids and silicone to a scale that would make Rudolph Schindler, a pioneer of the modernist Hollywood house, blush. Wraparound floor-to-ceiling glass walls all peel away; there are pools for each level; the views make the word panoramic seem insufficient. This is not the first expensive home purchased by the billionaire couple in California, as they bought a Bel-Air mansion in 2017 for $88 million. Later, the 53-year-old and his wife increased the property’s value by investing more into it and it is now worth over $100 million, per TMZ. Although the price tag is steep for most, for Jay-Z and Beyonce it’s simply another commodity to add to their over $2 billion fortune. The “Empire State of Mind” rapper is worth an impressive $2.5 billion, per his official Forbes profile.
They reportedly got a discount, as the home was privately listed for $295 million. Designed by renowned Japanese architect Tadao Ando, the mansion spans 30,000 square feet and reportedly took more than a decade and a half to finish. The seller is notable Los Angeles art collector Bill Bell, Jr., who is the heir to a soap opera fortune. His father, William J. Bell, created the iconic soap operas The Young and the Restless and The Bold and the Beautiful. Times, Bell purchased the property in the late 1990s for $14.5 million and enlisted Ando to create a modernist glass-and-concrete structure. He’s considered one of the biggest art collectors in the world, with numerous works of art by Jeff Koons, Andy Warhol, Damien Hirst, Marcel Duchamp, and many more.
Bell and his wife Maria spent 12 years constructing their now-former home. Beyoncé and husband Jay-Z paid a whopping $200 million for their new home in California, making it the most expensive house ever sold in that state, according to TMZ. Amid acquiring the lavish beach-front home, Beyonce is currently in the United Kingdom for her Renaissance world tour. On May 17, she kicked off the UK leg of the tour in Cardiff and took to Instagram the next day to share a video from her performance. Many of her 309 million followers took to the comments of the clip to gush over her stunning tour outfits. “I see why them tickets be so much,she put in work,” one admirer wrote, while a second quipped, “Baddie Bey.” In a separate comment, another fan couldn’t help but compliment her on her ensembles.
And nearby is “the obligatory movie theater,” McClean says as we enter the plush room. TMZ first reported that the star couple had snapped up a modernist mansion designed by the celebrity Japanese architect Tadao Ando. With a sale tag of $200m, the acquisition appears to break the record for the most expensive home in California. Entertainment news outlet TMZ reported on Friday that the music icons had paid $200 million for a 40,000-square-foot property in the Paradise Cove area, citing sources in the real estate industry.
Beyoncé and Jay-Z’s purchase of the monumental home marks the most expensive residential real-estate deal in California history. It is also the second-most expensive home price in U.S. history; Citadel founder Kenneth Griffin’s penthouse on New York’s Billionaires’ Row went for $238 million in 2019—although, to split hairs, that is an apartment, not a house. Beyoncé and Jay-Z even got a deal on their new digs overlooking the Pacific Ocean, paying $95 million under the original ask.
Earlier this year, Jay-Z, né Shawn Carter, saw his net worth reach $2.5 billion, with his fortune boosted by a vast business empire. Beyoncé and Jay Z recently purchased the most expensive home ever in the state of California for $200M. Beyoncé Knowles and Jay-Z are known for breaking records, and now, they’ve broken the record for purchasing the most expensive home in California’s history.
The news outlet also reported that the couple paid the $200 million for the mansion in cash. Beyoncé and Jay-Z also own an $88 million Bel Air estate, though it’s unclear if they intend to hold onto the similarly contemporary pad. The home holds architectural significance as one of only a few private residences designed by Pritzker Prize-winning Japanese architect Tadao Ando in the United States. (Another being fashion designer Tom Ford’s Santa Fe ranch, Cerro Pelon, which Aldo completed in 2012.) Ando is credited with popularizing the "haiku" effect, using empty space to emphasize the beauty of zen aestheticism and pure geometry. His non-residential work in the U.S. includes the Pulitzer Arts Foundation in Missouri and the Modern Art Museum of Fort Worth.
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