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Bell, who bought the property in 2003 at $14.5 million, spent over 15 years completing the 30,000 square feet compound–designed to showcase his legendary art collection. The new Blue Jay Way home, at 8,000 square feet, is by no means the grandest of McClean’s designs, which can come with six-digit square footages and nine-digit price tags. 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. The media mogul, actress and philanthropist reportedly paid $52 million for her Montecito mansion, which covers 23,000 square feet and sits on 70 landscaped acres. It is now worth significantly more — its 2022 assessment record in Santa Barbara County put the home’s value at more than $100 million, with taxes alone topping $1 million.
Real Estate Fantasies
He cut his teeth in an area with an active design board, where any development requires a public presentation. The experience likely prepared McClean for dealing with L.A.’s lengthy approvals processes, which can take as long as building a house, as well as its high-profile clientele. Couple all that with “sleek and sexy exteriors,” and it’s a recipe for record prices. 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.
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Rumors about the property have swirled for years, with several Reddit users likening the monolithic design to a supervillain’s lair. Instead, it was quietly offered at $295 million as a pocket listing, which means it was shown only to a select group of qualified buyers. Ando is currently designing a home with Kanye West, The Daily Mail reported, though the project has stalled and fallen into disrepair. Shot in a twinkling art installation, Bey and Jay put on an unexpected display of affection, kissing and snuggling up to one another in the sparkling lights as well as clinking their glasses of Champagne together.
Beyoncé And Jay-Z Buy Malibu Estate For $200 Million—The Most Expensive Home In California
Beyoncé, Jay-Z purchase of Malibu beach mansion most expensive real estate sale of 2023 - Fox Business
Beyoncé, Jay-Z purchase of Malibu beach mansion most expensive real estate sale of 2023.
Posted: Sat, 06 Jan 2024 08:00:00 GMT [source]
Kurt Rappaport of Westside Estate Agency handled both ends of the deal, TMZ reported. The historic deal redefines the luxury market in Southern California, which has slowed down so far this year in the wake of the red-hot pandemic housing market. It also marks another feather in the cap for the affluent enclave of Paradise Cove, which has emerged as one of the most valuable stretches of land in the entire country.
Record deals and tax-avoidance maneuvers: Southern California’s priciest sales of 2023
One week after welcoming twins Rumi and Sir in June 2017, the elated parents (they also share 12-year-old daughter Blue) opted to temporarily move into an estate in Malibu to recoup and get to know the latest additions to their family. The pair rented the 6.3-acre compound known as La Villa Contenta for $400,000 a month. The extremely private, 12,000-square-foot Mediterranean-style residence had amenities like a movie theater, a gym, and a wine cellar, as well as numerous terraces overlooking the Pacific Ocean (though no direct beach access).
Their next-door neighbour, venture capitalist Marc Andreessen, holds the record for the second most expensive home bought for a staggering US$177 million in 2021. Architect Ando also designed the Malibu home that Kanye West bought last year for $57.3 million. That house has plenty of beach frontage and, like Beyoncé and Jay-Z's new pad, is on Pacific Coast Highway. One contractor, Beeson Pervious Concrete, worked on the home's 22,500-square-feet of polished pervious concrete used in its driveway, motor court and parking areas. The contractor's website published photos of the hardscape that illustrate the home's strikingly modern design.
Beyoncé and Jay-Z's $190 Million Malibu Buy Topped the Real-Estate Charts in 2023 - The Wall Street Journal
Beyoncé and Jay-Z's $190 Million Malibu Buy Topped the Real-Estate Charts in 2023.
Posted: Tue, 02 Jan 2024 08:00:00 GMT [source]
MALIBU, CA — Beyoncé and Jay-Z are now the owners of California's most expensive house ever sold, according to TMZ. As part of your account, you’ll receive occasional updates and offers from New York, which you can opt out of anytime. 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.
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The place made headlines again in 2021 when a fire broke out at the property; several months later, TMZ reported that the couple was listing it for $3.5 million and then a more ambitious $4.45 million. The home didn’t appear to sell, and it was later pulled from the market. The couple paid $200 million for the property, making it the most expensive home ever sold in the entire state of California ... It's also the second most expensive real estate deal in the country -- the top being $238 million for an NYC apartment. In 2017, they shelled out $88 million for an impressive Bel-Air pad, and they also own homes in New York City and the Hamptons. The Carters’ recent purchase surpassed the former record of a $177 million Malibu compound purchased by billionaire Marc Andreessen in 2021, TMZ reported.
The concrete compound, which overlooks the Pacific Ocean, naturally comes with a swimming pool, and sits on eight acres of land. Designed by famed Japanese architect Tadao Ando, the property was commissioned and owned by soap opera veterans turned renowned art collectors William and Maria Bell, with the project reportedly taking 15 years to complete. The seller is renowned art collector William Bell, son of the creator of American soap operas The Young and the Restless and The Bold and the Beautiful.
The broker for the deal was Kurt Rappaport of Westside Estate Agency, whose other clients include Tom Cruise, Brad Pitt, and Madonna. The couple continued their landmark year in 2017 with the purchase of a seven-bedroom, seven-and-a-half-bathroom mansion in East Hampton the following month. The Pond House is a 12,000-square-foot behemoth designed by renowned architect Stanford White, situated just off Georgica Pond. The estate includes 203 feet of waterfront property and is adjacent to a massive 17-acre meadow preserve, ensuring that the Carters have the utmost privacy. Incredibly, the previous owner even rotated the house 90 degrees so that the living room now faces west toward the pond, meaning that the family of five gets views of both stunning sunrises in the east and picturesque sunsets in the west.
Supplanting their new neighbor, the Knowles-Carters’ nine-figure closing now takes the cake as the second-most expensive home purchase in American history (the top being $238 million for an NYC apartment). The most expensive home is a $238 million Central Park penthouse owned by Billionaire hedge-fund manager Ken Griffin. Beyoncé and Jay-Z are the latest to shell out an exorbitant sum of straight cash for one of the Pritzker Prize-winning architect’s few residences in the United States. “All the charm of an empty Costco distribution center,” said one critic on Twitter of the striking concrete structure — concrete being Ando’s signature materials in his rare designs.
Prince Harry and Meghan Markle are said to be regular guests, although their March 2021 bombshell interview with the talk-show queen wasn’t filmed in her backyard. Meanwhile, Beyoncé’s bachelorette pad for the first few years of their relationship was a $5 million condo in midtown Manhattan overlooking Central Park, which she purchased in 2005. The ultramodern spot featured floor-to-ceiling windows and 11-foot ceilings, with high-end interior finishes selected by Paris designer Jacques Grange. Beyoncé reportedly used the three-bedroom condo primarily as a spot for friends and family to stay while they were in town. The singer sold the 44th-floor corner unit for $9.95 million in 2017 after less than a month on the market.
Beyoncé and Jay-Z reportedly splashed out a whopping $200 million for a Malibu oasis designed by the same architect who’s crafting Kanye West’s oceanfront home. It's also an architectural jewel, designed by Tadao Ando, a Japanese master architect, who is also designing the house Kanye West bought in Malibu. Beyoncé and Jay-Z’s latest property purchase adds to a luxury property portfolio that includes a $100 million Bel Air mansion, which the couple are reportedly holding on to alongside their new Malibu home.
They were outbid on a number of properties (once by Minecraft creator Markus Persson), so they opted to rent first instead. In 2014, the superstars shelled out $150,000 a month for a newly built, contemporary Holmby Hills estate with floor-to-ceiling glass sliders, an infinity pool, a wine cellar, a 75-foot-long art gallery, and a home theater. When the property sold in 2015, the couple had to vacate the premises, meaning that their search for the perfect West Coast pad continued. Their Mediterranean-style villa (one of only 35 homes on the island) was built in 1991 and boasted seven bedrooms and eight bathrooms, plus its own private boat dock. The couple was believed to have paid a little over $9 million for the compound, but they didn’t hold onto it long, selling it for $9.3 million in 2010.
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