Jay-Z reportedly sold his controlling stake in the D’ussé Cognac brand to Bacardi for $750 million earlier this year. Therefore, it makes sense that the billionaire mogul and Beyoncé have re-invested a portion of their profits in an extravagant Malibu vacation property. The ultra-famous couple reportedly paid $200 million for a Brutalist-style mansion perched high above Paradise Cove.
This astounding sale price is the highest ever paid for a California residence, surpassing the $177 million Malibu estate immediately next door, and the second-highest ever paid for a U.S. property. The home had been privately listed for $295 million. However, one could also argue that the Carters got a great bargain.
The property comes with major bragging rights: 8 acres of blufftop land with unobstructed ocean and coastline views, direct access to what is arguably Malibu’s most scenic beach, and a 40,000-square-foot mansion designed by renowned Japanese architect Tadao Ando, who collaborated with Los Angeles-based WHY Architects on this mega-project.
Bill and Maria Bell commissioned the house in the late 1990s — he is the son of the soap opera moguls who created “The Young and the Restless” and “The Bold and the Beautiful” — but it took 15 years to plan and construct. The monolithic fortress was constructed in 2014, at least in part, to house the Bells’ vast collection of modern art, which includes numerous works by Jeff Koons, Andy Warhol, Damien Hirst, and Marcel Duchamp.
Since the property was never officially listed for sale, additional information is limited. However, aerial perspectives reveal that the property has a vast backyard with what appears to be acres of verdant lawn. There are also two enormous outdoor pools, one for swimming and the variety for which Ando is renowned, a reflecting pool.
Additionally, the property is notable for its extensive use of concrete. One contractor, Pacific Pervious Concrete, supplied the estate’s driveway and motorcourts with a staggering 22,500 square feet of polished pervious concrete. A second contractor, Morley Concrete, supplied an additional 7,645 cubic yards of concrete for the construction of the home. The interiors of the building are largely unknown, and we do not even know the number of bedrooms and toilets, but rest assured that they are all strictly and brutally minimalist.
Real estate observers will recall that this is not the only residential work by Tadao Ando in Malibu; two years ago, Kanye West paid $57 million for a much smaller Ando-designed home a short distance from the coast.
Beyoncé and Jay-Z also own a penthouse in New York City and a property in the Hamptons, in addition to their massive new Malibu estate. However, their primary residence is still a $88 million mansion in the upscale Los Angeles neighbourhood of Bel Air.
