The couple paid $200 million for the Malibu property
Once Beyoncé concludes her “Renaissance World Tour,” she’ll have a brand new home to return to — and a very luxurious one at that.
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. Apparently that’s the biggest real estate transaction in California history, smashing the previous record of $177 million. It’s also the second most expensive home real estate deal in US history — behind only a $238 million transaction for a property in New York City.
Incredibly, Beyoncé and JAY-Z actually got something of a deal, as the property was originally listed for $295 million. But with a combined net worth of $2.5 billion, the power couple likely had no problem securing a mortgage.
The home was designed by Japanese architect Tadao Ando. Art collector William Bell, its previous owner, spent 15 years building the all-concrete structure. It sits on an 8-acre property overlooking Malibu’s Paradise Cove. You can see photos of the property below.