PHOTO: Jay-Z and Beyoncé with 27712 Pacific Coast Highway (Getty, Google Maps)
Jay-Z and Beyoncé broke California real estate records when they closed a deal for the priciest home in the state’s history, paying $200 million for a Malibu estate.
The musical power couple purchased the property at 27712 Pacific Coast Highway, which has nearly 6 acres. The seller was Bill Bell Jr., an art collector and son of the creators of soap operas “Bold and Beautiful” and “The Young and the Restless.”
Kurt Rappaport of Westside Estate Agency represented the buyers and the seller, according to TMZ, which first reported the story on May 19. Rappaport did not return a call seeking comment.
Bell commissioned prominent Japanese architect Tadao Ando to build the concrete, 40,000-square-foot mansion that overlooks the Pacific.
The last time the estate was on the market was 2013, when it was sold for $14.5 million.
Jay-Z and Beyoncé’s deal outpaces the former record holder for the state’s priciest home. Billionaire Marc Andreessen paid $177 million for a 7-acre Malibu estate in 2021. A previous record holder was Jeff Bezos’ purchase of a $165 million Beverly Hills estate in 2020.
The Bell family has made other notable deals in real estate. In 2020, Los Angeles Lakers star LeBron James bought the family’s Beverly Hills Post Office estate for around $39 million.
Also in 2020, the Bells sold a more than $18 million mansion in the Malibu Colony enclave. Soap opera creator Bill Bell died in 2005. His wife and business partner Lee Phillip Bell died in 2020.
According to Forbes, Jay-Z has a net worth of $2.5 billion, with his fortune built originally on music and later on a liquor brand he founded.
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