Beyoncé and Jay-Z buy the most expensive home in California
Beyoncé and Jay-Z have been house hunting for a while and they finally found the oasis they were looking for in Malibu, California. The 40,000-square-foot property overlooks the Pacific Ocean in the exclusive Paradise Cove enclave.According to several news outlets, the home was owned by William Bell Jr. one of the world’s biggest art collectors and it was designed by the same architect that built Kanye West’s oceanfront home.
Beyoncé and Jay-Z bought the Malibu property for $295 million The property took almost 15 years to be completed as it has a one-of-a-kind all-concrete structure and it cost Bell Jr. almost $100 million to build.The home’s initial asking price was $295 Million, however, Beyoncé and Jay-Z bought it shaving $95 million off the price tag, making it the second most expensive home in the entire United States
The first place for the most expensive home in the country goes to Ken Griffin who purchased a four-story condo overlooking New York’s Central Park and it was bought for $238 million.
Jay-Z and Beyoncé’s property was designed by Japanese architect Tadao AndoAfter the sale of the property, it seems that William Bell Jr. made a whopping $100 million profit, as it only took him less than $100 million to build and it was sold for double the building price.
The all-concrete house design needed about 7,645 cubic yards of concrete, including the necessary materials to build a water feature and a pool, which are part of the Japanese architect’s style and design.
