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Beyoncé, Jay-Z Obliterate California Record With $200M Home Purchase

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Jay-Z and Beyoncé have made a splash in the true property market this 12 months with the huge buy of a $200 million mansion in Malibu, marking the priciest deal to ever shut within the state of California and essentially the most an African American purchaser has ever paid for a house within the U.S., TMZ first reported on Friday.

The property bought by the celeb energy couple at 27712 Pacific Coast Freeway encompasses practically six acres of land. Invoice Bell Jr., an artwork collector and son of Invoice Bell and Lee Phillip Bell, creators of cleaning soap operas Daring and Stunning and The Younger and The Stressed, was the vendor.

Kurt Rappaport of Westside Property Company represented each the patrons and the vendor.

The 40,000-square-foot, concrete property was designed by acclaimed Japanese architect Tadao Ando, who can be at the moment engaged on a property with Kanye West, in accordance with The Each day Mail (though the challenge has been postponed and fallen into disrepair). The grounds characteristic a non-public seashore and infinity pool. The final time the property offered was for $14.5 million in 2013.

Previous to this sale, the priciest house ever to be offered in California was a seven-acre Malibu property bought by enterprise capital investor and software program engineer Marc Andreessen for $177 million in 2021. Earlier than that, Jeff Bezos’s 2020 buy of a $165 million Beverly Hills property was the state’s priciest deal.

The priciest actual property deal ever closed within the U.S. was hedge-fund supervisor Ken Griffin’s buy of a $238 million Central Park penthouse in 2019.

In October 2022, media mogul Byron Allen bought a Malibu property beforehand owned by self-storage magnate Tammy Hughes Gustavson for $100 million, marking essentially the most cash an African American purchaser has ever paid for a house within the U.S.

The Bell household has made quite a lot of vital offers in Southern California in recent times, together with their sale of the Beverly Hills Submit Workplace property to LeBron James for about $39 million in 2020 and their sale of a roughly $18 million property in Malibu Colony the identical 12 months.

Jay-Z’s internet value is $2.5 billion and Beyoncé’s internet value is $450 million, in accordance with Forbes. The couple owns quite a few properties throughout the U.S., together with a $88 million Bel Air mansion and a $26 million East Hampton mansion.

E mail Lillian Dickerson