Beyoncé and Jay-Z Join the $100 Million Home Club
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.
TMZ, which broke the story, reported that the couple’s new abode is a 30,000-square-foot concrete masterpiece designed by the Japanese architect Tadao Ando, perched on an eight-acre bluff overlooking the Pacific Ocean. The seller was the art collector William Bell Jr., and the deal was repped by Kurt Rappaport, co-founder of Westside Estate Agency. TMZ also reported that Beyoncé and Jay-Z paid in cash. The couple reportedly bought the home through a trust. (Mr. Rappaport did not return requests for comment.)
The sale marks the most expensive residential real estate deal in California history — but not the most expensive in American history. That would be the $238 million sale in January 2019 of an unfinished penthouse on Central Park South, in Manhattan, to the billionaire hedge fund tycoon Kenneth C. Griffin. Still, California can claim 10 of the 20 most expensive property sales ever in the United States, according to data compiled by Jonathan Miller of Miller Samuel appraisals. (Four were in New York, five in Florida and one in Connecticut.)
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.