Renowned power couple, Beyoncé and Jay-Z have recently acquired a remarkable architectural marvel in the prestigious locale of Malibu, securing an extravagant residence spanning an impressive 30,000 square feet.
The price they paid for this opulent property has left many astounded, as sources in the real estate industry divulge that the couple dished out a princely sum of $200 million. This astounding figure establishes a new record in the state of California, surpassing the previous high of $177 million. Notably, it also ranks as the second most expensive real estate transaction nationwide, with the top spot currently held by a New York City apartment that fetched a staggering $238 million. Surprisingly, the residence was discreetly listed for an eye-watering $295 million, making their acquisition an exceptional deal.
Nestled on an 8-acre bluff that overlooks the majestic Pacific Ocean, the property is situated in the illustrious Paradise Cove area, colloquially referred to as “Billionaires’ Row.” Designed by the esteemed Japanese master architect, Tadao Ando, this architectural gem showcases the couple’s impeccable taste. Incidentally, Ando is also the visionary behind the Malibu home purchased by Kanye West.
Originally constructed and owned by William Bell, a globally renowned art collector, the all-concrete structure took Bell nearly 15 years to complete. Notably, this Malibu mansion marks the second significant real estate venture for Jay-Z and Beyoncé in the Los Angeles region. In 2017, they acquired a Bel-Air mansion for $88 million, investing substantial additional funds to elevate its value beyond the $100 million threshold. The prominent celebrity realtor Kurt Rappaport skillfully represented both the buyers and the seller in this extraordinary transaction.
