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Times, Bell purchased the property in the late 1990s for $14.5 million and enlisted Ando to create a modernist glass-and-concrete structure. He’s considered one of the biggest art collectors in the world, with numerous works of art by Jeff Koons, Andy Warhol, Damien Hirst, Marcel Duchamp, and many more. The 8-acre concrete compound overlooks the Pacific Ocean in the exclusive Paradise Cove area and was designed by famed Japanese architect, Tadao Ando. The 40,000 square foot home doubles as an art museum as the property was commissioned by modern art collectors Bill and Maria Bell more than a decade ago. It's no surprise, then, that the superstars took to the estate as their private art collection is said to be quite impressive.
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Couple Who Sold Malibu Mansion to Beyoncé and Jay-Z Pick Up Beverly Hills Pad for $20.1 Million - WSJ - The Wall Street Journal
Couple Who Sold Malibu Mansion to Beyoncé and Jay-Z Pick Up Beverly Hills Pad for $20.1 Million - WSJ.
Posted: Thu, 17 Aug 2023 07:00:00 GMT [source]
With its steep green cliffs overlooking the Pacific Ocean, Malibu is a top contender in America’s ultra-luxury real estate market. Its rise in the rankings of the favorite spots of the super-rich was solidified again in past weeks, with reports that Beyoncé and Jay-Z purchased a 40,000 sq ft oceanfront mansion in the coastal enclave. The music industry power couple’s new home is also the second most pricy real estate purchase in the United States. The penthouse at 220 Central Park South cost Kenneth Griffin, founder and CEO of Citadel, $238 million in 2019. There is a really, really good Italian ice vendor just steps away from Griffin’s pad. Beyoncé and Jay-Z reportedly just bought a house that—between the price, the size, and the world-class architectural pedigree—would break any design lover’s soul.
Tupac Shakur’s estate threatens to sue Drake over …
Just this year, she claimed the title for the most Grammy wins of all time. The mega-mansion spans nearly 40,000 square feet and required 7,645 cubic yards of concrete, according to Morley Construction Co., the project’s contractor. The hip-hop power couple stole the record from their new neighbor, billionaire venture capitalist Marc Andreessen, who paid $177 million for the home right next door in 2021. Even the wealthiest of buyers are facing a housing market in which prices continue to skyrocket. Indeed, the price of typical luxury homes jumped nearly 9% since the start of the year—making them the most expensive they’ve ever been. After Beyoncé first obliterated the Internet with her Instagram pregnancy reveal, the world waited with bated breath for the arrival of her twins.
Real Estate Fantasies
According to Morley Construction Co., the project's contractor, design qualities include a water feature and a pool while utilizing 7,645 cubic yards of concrete. New York City still holds the record for the most expensive home in the United States, a $238m penthouse apartment overlooking Central Park. But California has been repeatedly breaking its own records in recent years.
What Ye was expected to do with the property
The all-white fortress features an L-shaped compound with robust concrete hallways. Pacific Pervious Concrete, a contractor, contributed an impressive 22,500 sq ft stretch of polished pervious concrete solely for the estate’s driveway. Famous Japanese architect Tadao Ando created the home's concrete, minimalist design. Beyoncé and Jay-Z are the latest to shell out an exorbitant sum of straight cash for one of the Pritzker Prize-winning architect’s few residences in the United States. Earlier this year, Jay-Z, né Shawn Carter, saw his net worth reach $2.5 billion, with his fortune boosted by a vast business empire. Beyoncé Knowles and Jay-Z are known for breaking records, and now, they’ve broken the record for purchasing the most expensive home in California’s history.
Jay-Z & Beyoncé Set California Record With $200 Million Malibu Mansion Purchase
The home is the couple's second massive real estate purchase in the Los Angeles area that we know of ... Back in 2017, they purchased a Bel-Air mansion for $88 million, and pumped millions more into the home to push it over the $100 million mark. The house was owned and built by William Bell, one of the biggest art collectors in the world. The couple reportedly paid cash for the 40,000-square-foot concrete mansion by the Japanese architect.
Be sure you are looking at the right one, because Ando built another beachside Malibu home for financier Richard Sachs in 2013, which was purchased in 2021 by Kanye West for $57.3 million. (Peanuts compared to what Beyoncé and Jay-Z paid.) The 4,000-square-foot home is reportedly in a state of disrepair right now, with unfinished remodeling projects dragging on. Not only is the house the most expensive home ever purchased in California history, it’s also the second most expensive home sold in the United States; the award for America’s priciest pad goes to a $238 million Manhattan penthouse that sold in 2019.
However, Oppenheim told the Chronicle that a crew had been working on the property to prepare it to sell. And to get the property back to a desirable living space for a buyer, it’s going to cost them. But if luxury home prices are on the rise, then why would Ye and listing agent Jason Oppenheim be willing to offer it at such a steep discount?
The mansion been described as “massive”, “minimalist” and “echoey”, and reportedly includes both a pool and a “water feature”, as well as an award-winning concrete driveway. Beyoncé and Jay-Z have just bought a new home, according to TMZ and Architectural Digest. The digs, boasting 30,000 square feet along the Pacific Ocean in Malibu, cost the couple $200 million. This makes it the most expensive purchase for a private residence in California. Ando, who also designed Kanye West’s Malibu beachfront home, built the digs in collaboration with award-winning architect (and protégé) Kulapat Yantrasast, who runs the firm WHY out of New York and Los Angeles. A Midwestern boy at heart, he was raised in St. Louis and studied journalism at the University of Missouri.
It also marks another feather in the cap for the affluent enclave of Paradise Cove, which has emerged as one of the most valuable stretches of land in the entire country. Rumors about the property have swirled for years, with several Reddit users likening the monolithic design to a supervillain’s lair. Ando is currently designing a home with Kanye West, The Daily Mail reported, though the project has stalled and fallen into disrepair.
It’s also the second most expensive home real estate deal in US history — behind only a $238 million transaction for a property in New York City. With that hefty price, the house is now the most expensive home ever sold in California, breaking the previous record of $177 million. The architectural masterpiece of concrete and glass was bought for $14.5 million by art collector William Bell in 2003, before bringing in Japanese architect Tadao Ando to create the minimalist concrete design. The L-shaped home has floor-to-ceiling walls of glass and leads outside to a swimming pool, cabana and a grass lawn perched on a cliff overlooking the Pacific Ocean, according to the Los Angeles Times. The married moguls’ new Pacific Coast Highway abode was designed by architect Tadao Ando and measures in at 30,000 square feet, plenty of space for their three children to enjoy. Its seller was art collector Bill Bell Jr., who is also the heir to a soap opera fortune, as the son of the creators of The Young and the Restless and The Bold and the Beautiful.
Beyoncé’s new home was originally commissioned by modern art power-collectors Bill and Maria Bell (Bill is the son of the creators of The Young and the Restless and The Bold and the Beautiful). It took 15 years to complete, and its construction required 7,645 cubic yards of concrete just for the home alone (that doesn’t even include the driveway). The couple also once lent the home out to artist Alex Israel for a post-apocalyptic photoshoot starring a chimpanzee named Eli. The Carters’ new home in California is reportedly designed by Japanese master architect Tadao Ando, who is also designing the house Kanye West bought in Malibu.
Beyoncé and Jay-Z also own an $88 million Bel Air estate, though it’s unclear if they intend to hold onto the similarly contemporary pad. Though not everyone’s cup of tea (according to the contractor, the home is made up of 7,645 cubic yards of concrete–so, not exactly “cozy”), it makes sense that the business and entertainment moguls would be drawn to the simple, art-forward design. Beyoncé and Jay Z’s private collection is extensive, including works from Damien Hirst, Jeff Koons, Mark Rothko, and a Tiffany-blue Basquiat. The home holds architectural significance as one of only a few private residences designed by Pritzker Prize-winning Japanese architect Tadao Ando in the United States.
It is also the second-most expensive home price in U.S. history; Citadel founder Kenneth Griffin’s penthouse on New York’s Billionaires’ Row went for $238 million in 2019—although, to split hairs, that is an apartment, not a house. Beyoncé and Jay-Z even got a deal on their new digs overlooking the Pacific Ocean, paying $95 million under the original ask. Beyoncé and Jay-Z’s latest property purchase adds to a luxury property portfolio that includes a $100 million Bel Air mansion, which the couple are reportedly holding on to alongside their new Malibu home. The eye-watering price tag makes the house the most expensive property ever to be sold in the state of California, dethroning a Malibu estate bought by venture capitalist Marc Andreessen for $177 million in 2021. Images of the new home can be found on many pages dedicated to Ando’s work, if you use the keywords Bell and Malibu.
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