With a maximum budget of $80 million, you could easily assume that it would have been easy for Jay Z and Beyonce to find their L.A. dream home. Sadly, it wasn’t, although they did come close during their epic house hunt that lasted more than three years.
In 2014, they lost out on a $70 million Beverly Hills mansion. They were actually outbid by the creator of Minecraft, Markus Persson, who offered up the same amount, but agreed to waive any contingencies and pay cash. The next year the power couple set their sights on a different Beverly Hills mansion, only to lose out again. This time, Jay Z and Beyonce’s offer of $49 million was rejected for designer Tom Ford’s $50 million offer. (Here’s a trivia fact. Two years before the bidding war with the designer, in 2013, Jay Z recorded the song “Tom Ford.” It referenced the rapper “rocking” the designer’s clothes.)
Finally, in August 2017, they found their home, opting for a contemporary-style Bel Air mansion. Despite an estimated asking price of $120 million, the couple was able to purchase it for a mere $88 million. This makes it the highest-selling transaction for Los Angeles County in 2017.
All about the House
Before we go any further, here’s an interesting fact. The 1.88 acre property included a more than 9,000 sq. ft. Colonial Revival mansion when it was last purchased for $15 million in 2013. The buyer immediately had the historic home torn down and replaced with the “open and airy” mansion that sits in its place.
Jay Z and Beyonce’s ultra-modern, hillside mansion boasts eight bedrooms, eleven bathrooms, bulletproof windows, a 15-car garage, staff quarters, four pools, and a basketball court, among other things. Altogether, there are six structures on the property with around a combined 30,000 sq. ft. of living space. The estate is a smart home that includes all of the latest technological features to ensure safety and convenience. (All it takes is the touch of a button to open the glass walls. And, of course, everything sits behind massive iron gates.
he couple decided to put down more than $30 million in cash, leaving them with a mortgage of $52.8 million. Just in case you wanted to know, their estimated monthly payment is around $252,075 if they took out a 30-year loan. Take a minute and let that sink in. (On the bright side, that’s considerably less than the $400,000 a month they were paying to rent a Malibu home while on their house hunt.)
A Few Key Renovations
Before moving in, the couple spent an additional $750,000 on some important changes. They had a backup generator installed and added another living area under the pools. So, are you wondering what an $88 million mansion in Bel Air looks like? Here are 20 photos of Beyonce and Jay Z’s Bel Air mansion so that you can see for yourself.