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Jay-Z and Beyonce Take Massive Mortgage on $88 Million Bel Air Compound

BUYERS: Jay-Z and Beyoncé
LOCATION: Los Angeles, CA
PRICE: $88,000,000
SIZE: 6 buildings with (approx.) 30,000 square feet, 8 bedrooms, 11 bathrooms
YOUR MAMA’S NOTES: A few months ago the Page Six column of the NY Post reported longtime L.A. house hunters Jay-Z and Beyoncé made a pearl-clutching $120 million dollar offer against a staggering $135 million asking price but it turns out the deep pocketed couple actually paid the substantially lower amount of $88 million in an off-market deal for a sleekly flamboyant spec-built compound in the mega-prime East Gate area of L.A.’s perennially posh Bel Air. The sale price, a financially forbidding figure by any standard, may indeed be a paltry 65% of the original asking price but it’s nonetheless the sixth highest price ever paid for a single-family home in Los Angeles County and the highest price paid so far this year, topping the $85 million deal Dodgers owner Mark Walter made in May for David Geffen’s East Coast-style compound on Malibu’s Carbon Beach. Public records show the money-minting showbiz superstars carry a mind-numbing $52.8 million mortgage on the property that, as was calculated by the property gossip at the L.A. Times, translates at a 4% interest rate to 30 years of monthly payments of $252,075, an amount U.S. Census data indicates is more than 97% of Americans earn in an entire year.
The monumental, ultra-modern compound, designed by architect Paul McLean and spec built by Dean McKillen, son of Irish billionaire property developer Paddy McKillen, is hidden behind massive iron gates on about two hillside acres and comprises six sleek, glass-walled buildings that combined encompass around 30,000-square-feet of living space with a total of 8 bedrooms and 11 bathrooms. A sculptural circular staircase in the three-story main residence is lined with leather and vast banks of bulletproof floor-to-ceiling glass panels throughout the compound open electronically at the touch of a button. Another 10,000-square-feet of outdoor living space includes an outdoor lounge under a cantilevered roof along with four outdoor swimming pools, a full-sized basketball court, a spa and wellness center, garaging for 15-cars and separate staff quarters.
Over the last few years the spectacularly successful international entertainment industry royals, who according to the bean counters at Forbes have a combined net worth of $1.16 billion (and counting) and, hence, can comfortably afford a quarter million dollar per month mortgage payment, have hopped around to a handful of exuberantly high-priced rentals in some of L.A.’s fancier zip codes. Most recently they were shacked up on sprawling, 6.3-acre bluff-top Malibu estate for which they reportedly paid $400,000 per month. They additionally maintain an 8,309-square-foot penthouse in lower Manhattan’s Tribeca neighborhood that was acquired in 2004 for $6,850,000 and where they were married in April 2008.
Listing photos: Hilton & Hyland

CategoriesMusicians
  1. James says:

    Disgusting how much the Hollywood elite can throw away. More than” what most households” make in a year. Actually I believe $247K a year is allot more than 99% of American’s.

    1. Sad says:

      Wow add,
      88000 month for property taxes. Wew.
      1 m yr for property tax !!!!!! Omg.
      That’s a huge mansion every year in any normal state. Nosy neighbor.

  2. BTR says:

    I work with lots of ultra high net worth individuals (in finance) and I can promise you… Promise you they aren’t paying anywhere near 4% on that mortgage. Due to what i’m sure is a very complex investment relationship with their bank they’re probably getting the mortgage at 2 1/2%. MAX. It’s good business to leave that money in the market and I’m sure the bank is appreciative as well.
    I love seeing people start from the bottom and make such successes of themselves.

    1. Toni says:

      Yah I’d like to be a slave for a week vacation there!!!
      Crowd fund a free staff in exchange for lunch at the pool.
      Ok.

      1. Sandy says:

        Just my 2 cents but always thought the staff of these outlandish estates were the people always there enjoying it compared to the owners that are busy out doing stuff like making money. Maybe not.

  3. Could probably invite 5,000 refuges to camp on this sweet spot. C’mon guys, put your money where your mouth is! $88MM could help allot of these poor Haitians on the northern border with Canada.

  4. ingee boo says:

    wow, thats something. what bothers me is all this talk about contemporary black couples being supressed and held back doesn’t seem to apply here. here is a talented couple that has more wealth than i will ever see in my lifetime.. and that doesnt bother me. good for them. so whats the problem, or is thre a problem at all. maybe the blacks they left back in the hood are just jealous and need an excuse for their lazy, miserable lives. hmmm.

  5. Curtis says:

    Just goes to show, unless a camera is around, they could give less than two fucks about their community… Just imagine the lives they could’ve changed with what obviously was a drop in the bucket to them.

    1. Frank says:

      I’m just happy they have a nice place of privacy and beauty for all the love they create in the world. Music.
      Blessed.

    1. Mary Lyons says:

      Yes, what are they trying to prove? Lots of money for a rapper and angry burlesque dancer to have made. Now Obama has someplace to stay when he comes to rub elbows with the celebs.

  6. ihateshills says:

    It is actually quite nice, but not being a CA resident, I do not understand the $88,000,000 price tag (just because I really don’t get why anyone would want to live anywhere near LACA, but that’s probably just me). May some extremely wealthy person find peace and happiness in this nice home.

    1. Asia says:

      Why Jay-Z just won’t pay cash for the mini mansion instead of paying the stupid tax, they will save money that way, they can afford it 1.16 billion together combined why pay the stupid tax.

  7. Jennifer says:

    Out of curiosity, and I’m not being mean I’m being truthful, why is it when the whines of the world talk about “the 1%,” they never talk about celebrities?

  8. Lynne says:

    It looks dated but beautiful, I know when B’s mom put her fabulous decorating skills on it it will be incredible…
    Love you guys

  9. Corressa Anderson says:

    I’m happy for them but how many houses do you need? I’m 55 and fighting for my social security after being diagnosed with kidney disease. Can I get a house or car? For way less than that.

    1. Sam says:

      Are you a talented world icon traveling working 365 days a year on the road standing on a stage performing for hours rehearsing for hours doing stage check for hours. Please have some courtesy.

  10. DarknessN2Light says:

    i like to read the comments on articles like this to see the hate. no matter the subject, some commenter will always find a way to link it to the former President. what a sad and pathetic life some humans lead. this couple has clearly put in their 10K hours, and continue to produce. they are building LEGACY, and making ‘money moves’! the one thing i zeroed in on was the fact that they’re parking money so that they can continue invest and build, thereby contributing to their legacy. we know publically that ms. carter has already made a sizable donation through her foundation to flood victims, BUT, how much has been given that isn’t being spoken or written about? Everybody can’t be million/billionaires, but how much better off would we all be if we worked and existed as if we could be. just be your best self, live YOUR best life, and quit hating on the lives of others…you can’t LIVE it…

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