Jay-Z & Beyoncé Purchase Bel-Air Mansion For $88M, Mortgage Is Crazy

Lawrence Kim
August 24, 2017

The couple paid $88 million for the massive estate in an off-market deal, and they also took a surprisingly traditional route with the purchase-they took out a mortgage.

If you think your mortgage is bad, this might make you feel better: Jay-Z and Beyonce have a US$52.8 million (NZ$72.6m) mortgage on their new US$88 million home. If we spread that amount out to the standard length of 30 years, with an interest rate of four percent, this means that Jay and Bey will be shelling out $252,075 a month for their property.

The Times put it all into perspective, saying "that's roughly 40% of the July median sales price - $610,000 - for single-family homes in Los Angeles County, according to CoreLogic". It sits behind gates on about two acres and comprises six structures.

Clocking in at a total of 30,000 of square feet, the Los Angeles home features a basketball court, four outdoor swimming pools, media room, a spa, wellness center and separate living quarters for their staff.

Earlier this year, it was revealed JAY-Z and his superstar wife Beyoncé had officially earned the status of billion-dollar couple-and boy, have they been acting like it.

The sale, which was handled by Dean's brother, Tyrone, in his capacity as a broker with Hilton & Hyland, LA real-estate agents and luxury home specialists, is the most valuable transaction to have been conducted this year in Los Angeles County, topping the $85m sale of billionaire movie and music mogul David Geffen's compound in Malibu.

Jay-Z and Beyonce had found themselves outbid on more than one occasion.

Other reports by Click Lancashire

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