Los Angeles: Renowned power couple Jay-Z and Beyonce have made a stunning addition to their property portfolio with the purchase of an extraordinary 30,000-square-foot home in California.
According to real estate sources, the couple paid $200 million for the property, setting a new record as the most expensive home ever sold in the entire state of California, surpassing the previous record of $177 million.
This remarkable acquisition also marks the second-highest real estate deal in the country, with the top spot being a $238 million purchase for a luxurious NYC apartment.
Originally listed at a staggering $295 million, the house is situated on an 8-acre bluff that offers breathtaking views of the Pacific Ocean in the esteemed Paradise Cove area.
Designed by Tadao Ando, a celebrated Japanese master architect who also designed rapper Kanye West's Malibu residence, the home is an architectural gem. It was originally built by William Bell, a prominent art collector, who dedicated nearly 15 years to constructing the all-concrete structure.
This latest purchase adds to the couple's impressive real estate portfolio in Los Angeles, following their acquisition of a Bel-Air mansion for $88 million in 2017. Subsequent renovations have pushed its value over the $100 million mark.
(With IANS inputs)