This mansion is the most expensive sale of 2017 in Los Angeles
Valued at $810 million by Forbes, Jay Z has emerged as one of the most influential men in the hip-hop industry. Famously married to Beyonce, the couple was estimated to have a combined net worth of over $1 billion by the American magazine. Recently, them acquiring a mansion in LA for a reported $88 million became a major story in people and business press.
It's hard to believe, but even with their capabilities, it was not easy for Jay Z and Beyoncé to find their L.A. dream home. The megastar couple had a long history with the Westside rental market but couldn't seem to be able to find a house they were able to buy. During three years the couple rented a Malibu estate for a reported $400,000 per month, known as La Villa Contenta.
The 13-bedroom home had roughly 16,000 square feet of living area, including a guest house, tennis court, pool, and nearly eight acres of prime ocean views. Known by TV fans from its use as the home of the Vampire Queen on HBO's True Blood, the villa featured noble interiors inspired by Italian villas.
The spacious dining room had 18th-century chandeliers, while one of the pools was located in a luxurious atrium with exquisitely crafted frescos on the walls. Among other amenities, there was a rose garden with more than 1,000 flower bushes and a landscaped desert area.
In 2014, Jay Z and Beyoncé lost out on a $70 million Beverly Hills mansion. Markus Persson, the creator of Minecraft, outbid them, as he had agreed to waive any contingencies and pay cash. A year later the pair lost another bidding war, this time to Tom Ford who bid just a million over the power couple's reported $49 million offer.
Eventually, their long search paid off as the couple set sights on this modern Bel Air mansion at 454 Cuesta Way. Developed by Dean McKillen, the property was never publicly offered for sale but real estate experts say it was being offered at $135 million. Reportedly, Jay-Z and Beyoncé purchased the mansion for $88 million, which made it the most expensive home sold in Los Angeles in 2017.
Aerial imagery show that the estate is expansive with 30,000 square feet of living space, 8 bedrooms, 11 bathrooms and 10,000 square feet of outdoor areas. These are complemented by four swimming pools, a spa, a wellness center, a full-size basketball court, a garage with space for 15 cars and a helipad. According to the LA Times, to facilitate the acquisition of this property, the pair took out a $52.8 million mortgage, leading to monthly repayments of $319,527 for the next 30 years.
Paul McLean, the architect who designed this ultra-modern mansion, created spacious and very airy interiors. The estate is a smart home that includes all of the latest technological features to ensure safety and convenience. Glass-walled areas offer expansive panoramic views of Los Angeles. You have just to touch a button to open the glass walls. By the way, the windows are bulletproof. Well even behind massive iron gates you can't be too careful.
The inner space is adorned with beautiful circular staircase lined with dark brown leather. The steps are made of limestone. Going down to the first floor you can enjoy impressive views of the grounds through the main 54 ft. glass wall.
Indeed, it would be a crime to limit the ability to contemplate the surrounding landscape. You can enjoy spectacular views from anywhere in the estate, no matter are you lazing in the bedroom or sipping a cocktail by the pool. Fortunately, you can choose between four pools, but it’s obvious that the one perched on the roof is a spot on.
Having three kids you must provide all conditions for entertainment in your house. And lush grassy outdoor area is just a perfect playground for Blue Ivy, Rumi, and Sir. When kids grow up, they’ll definitely join dad on the basketball court. And now we can imagine that they are delighted with the cozy family evenings in this home cinema.
The media room includes all of the latest state-of-the-art equipment, along with the comfortable furniture. The door is said to be covered in lizard skin. Recessed lighting, plush carpeting and doubtless perfect service ensure that the guest will enjoy the show.
Despite the luxurious laid back lifestyle, even celebrities have to work hard to earn their millions. Returning home from the next world tour, you might not be in the mood to get out. So it's great when all you need to recover is in your own home. And even when you are crazy in love, sometimes you need time for yourself. So why share a steam room when your mansion is large enough for two? The in-home spa has two steam rooms featuring marble walls. And then you can still enjoy a fresh dip together in a small plunge pool, located just between his and her spa areas.
Well, for the golden couple of music it was about time to found a long-term home in L.A. And looking at this impressive mansion, one can only wish to stay there forever.
Born in 1969 in New York, Jay Z, or Shawn Corey Carter, which is his legal name, the rapper has had a prolific career in hip hop ranging back to 1986. Throughout the years, he sold over 50 million albums and 75 million singles, racking in 21 Grammy awards. Currently valued at $810 million by Forbes as the world's second richest rapper, behind P. Diddy, most of his fortune comes from touring and concerts.
In 2016, Jay Z inked a $200 million deal with Live Nation Entertainement, an entertainement conglomerate, that sees him commit to the company for 10 years for his concerts. According to Billboard, the rapper racked in $48,7 million in gross sales during two months of his 4:44 tour, amounting to $1.5 million per show. His two previous tours grossed $37.4 million and $33.1 million in ticket sales.
Another source of revenue for Jay Z comes from Roc-A-Fella records, an independent label he co-founded with Dash and Burke in the 1990s and later sold it tp Def Jam Recordings. The rapper also established a sports management division, Roc Nation, which later got him a small ownership percentage in the Brooklyn Nets. In 2015, Jay Z bought Swedish startup Tidal for $56 million and entered music streaming. In early 2017, Sprint acquired a 33% stake in the company for $200 million, in a deal that valued the company at $600 million.