MALIBU

Beyoncé & JAY-Z Keeping $88M Bel-Air House Despite Buying Malibu’s Most Expensive Home

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Beyoncé and JAY-Z are reportedly keeping their $88 million house in Bel-Air, despite having just purchased the most expensive home in all of Malibu. TMZ reported last week that the couple dropped $200 million on the mega-mansion. At that fee, it ranks as the second most expensive real estate deal in the country behind a $238 million bid for an NYC apartment. The couple’s new property was reportedly listed for $295 million. Celebrity realtor Kurt Rappaport represented both parties to bring the deal together.

The outlet described the property as one of “the greatest architectural masterpieces in the country.” It overlooks the Pacific Ocean and is located in the exclusive Paradise Cove area and was designed by famed Japanese architect, Tadao Ando. At 40,000 square feet, it also doubles as an art museum. Art collectors Bill and Maria Bell originally commissioned the property.

Read More: Most Expensive Rapper Homes: Jay-Z & Beyonce, Drake & More

Beyoncé & JAY-Z

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JOHANNESBURG, SOUTH AFRICA – DECEMBER 02: Beyonce and Jay-Z perform during the Global Citizen Festival: Mandela 100 at FNB Stadium on December 2, 2018 in Johannesburg, South Africa. (Photo by Kevin Mazur/Getty Images for Global Citizen Festival: Mandela 100)

Back in 2022, JAY-Z’s frequent collaborator, Kanye West, purchased a home in Malibu for a whopping $57 million. Tadao Ando also designed his beachfront property. Other rappers to drop small fortunes on homes in the area include Dr. Dre, who bought a $40 Million home in Brentwood, California, Diddy, who purchased a $40 Million property in Holmby Hills, California, and more.

Beyoncé’s purchase of the Malibu property comes as she embarks on The Renaissance World Tour. For the effort, she’ll be making a total of 57 stops across England, Spain, France, Germany, and more. The shows kicked off on May 10 at Friends Arena, in Stockholm, Sweden. She’ll begin her run of shows in the United States on July 12 with a performance at Lincoln Financial Field in Philadelphia. DaniLeigh recently revealed that she worked with Beyoncé on the choreography for the concerts. Additionally, Natalia Bryant worked as an intern for Beyoncé ahead of the tour. It marks her first solo tour since the Formation World Tour in 2016.

Read More: Beyoncé Reveals Natalia Bryant’s Role On The “Renaissance” Tour

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Kim Kardashian Took Out $48 Million Mortgage To Purchase Malibu Mansion

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Kim Kardashian reportedly took out a $48 million mortgage in order to purchase her new $70 million Malibu mansion. Moreover, she used Britney Spears’ controversial ex-business manager Lou Taylor to make the deal and borrowed funds from investment bank BNY Mellon. Furthermore, the company offers custom mega-mortgages for incredibly rich clients, and the reality TV star closed the deal in September of last year according to documents obtained by the US Sun. While the mortgage’s terms are unclear, the national average rate on the week of the sale was 5.56% on 30-year fixed mortgages with jumbo balances, based on reports from the Mortgage Bankers Association.

In fact, that loan rate and structure equals monthly payments of over $278,000 before taxes and insurance. However, these payments could fluctuate up or down depending on differing terms of the deal. Regardless, the previous owners of this Malibu destination were Cindy Crawford and husband Rande Gerber. Moreover, the stunning home contains four bedrooms and five-and-a-half bathrooms within over 7,000 square feet. Interestingly, it’s about 14 miles away from ex-husband Kanye West’s recently purchased $57 million property.

Kim Kardashian’s $70 Million Malibu Mansion

According to mortgage documents referenced by the Sun, Lou Taylor helped the 42-year-old out with the purchase. Moreover, the company used to complete the purchase has the same address as Taylor’s management firm. For those unaware, Taylor received much scrutiny for his handling of Britney Spears’ conservatorship battle. Still, the company denied claims from the singer that they misused her $60 million fortune during her father’s 13-year conservatorship. Still, the Kardashians worked closely with Taylor before to handle much of their business deals, acquisitions, and other endeavors. It seems that their working relationship remains, even when considering Spears who was once much closer to Kim.

Meanwhile, Kim acquired the Malibu mansion through a reportedly off-market private transaction, with Jade Mills of Coldwell Banker also overseeing the sale. Moreover, this purchase marks the sixth most expensive real estate transection in Southern California in 2022, according to the Los Angeles Times. Given Kim’s pockets, it’s not surprising to see her dropping bags on luxury destinations. Regardless, log back into HNHH for the latest news and updates on Kim Kardashian.

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Kanye West Buys A Boxy Beachfront Malibu Mansion For Nearly $60 Million

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Kanye West’s most recent real-estate-related antics might have daunted any agent looking to make a sale, given his penchant for pyrotechnics. But the incendiary producer won’t be burning down his latest purchase, a boxy beachfront mansion in Malibu — especially with the price tag he just paid: $60 million. The home, which Kanye just bought according to TMZ, was designed by a noted Japanese architect, Tadao Ando, and was on the market for $75 million. Kanye ultimately got a break on the price, finally paying “just” $57.3 million.

He likely got such a break because the house had been listed since May of 2020 because it was only attractive “to a very specific buyer.” At just 4,000 square feet and constructed of mostly concrete and reinforced steel, it’s easy to see why. However, it also has four bedrooms and 4.5 bathrooms with a patio that leads straight down to the beach, so there’s some charm — which Mr. West intuited. He also likely took into account its relative proximity to Kim Kardashian’s home in Hidden Hills, where his soon-to-be ex-wife and kids live. Kanye is also reportedly a big fan of the designer — much like how his album materials for prior albums like Graduation were inspired by Takashi Murakami.

You can see photos of the mansion in the Instagram below.