JAY-Z and Beyoncé went all out on their latest real estate purchase.
According to a report TMZ published on Friday, The Carters dropped $200 million on a ginormous property in Malibu. The home in the Paradise Cove area measures out to 30,000 square feet and is located on an 8-scre bluff that has a perfect view of the Pacific Ocean. Hov and Bey's crib on Billionaire's Row was actually listed at $295 million, but the the couple was able to shave it down to $200 million. Despite the discount, it's the most expensive home ever sold in California and the most valuable real estate deal in the country.
Their new home was built and owned by one of the biggest art collectors in the world, William Bell. Bell took nearly 15 years to complete the all-concrete building. It was designed by acclaimed Japanese architect Tadao Ando, who's also currently working on Kanye West's new home in Malibu.
The $200 million home is the Carters' second major real estate purchase in Los Angeles. Back in 2017, the Everything Is Love artists made headlines for copping their home in Bel-Air for $88 million, which is now worth about $100 million. The couple's family have lived in that home ever since, however, it doesn't seem like they're going anywhere anytime soon. For the time being, their Malibu property will only be the family's weekend home. Hov wants to eventually move his family into the new home full-time, but hasn't decided when.