Beyoncé and JAY Z could soon be dethroned as the owners of one of America’s most expensive properties when a new one-of-a-kind megamansion hits the market in Malibu, CA, for the record-breaking price of $300 million.
The music legends made headlines the world over last year when they snapped up a gargantuan piece of real estate on the Los Angeles coastline for $190 million. At the time, it was the most expensive piece of residential real estate to have been purchased in the exclusive California neighborhood, although that record was soon broken by the sale of a $210 million mansion in June of this year.
Now, the real estate mogul who masterminded both of those history-making home buys is ready to break records again when he brings a lavish new home to the market.
In an interview with Bloomberg News, Kurt Rappaport revealed that he is currently preparing to put a home up for sale for $300 million. He did not share any further details about what perks potential homebuyers will land for that hefty sum.
Should he manage to find a buyer willing to fork over the full asking price, Rappaport will handily set a new record for the most expensive home, not just in California, but in the entire U.S.
(MLS)
Last year, a property in Naples, FL, hit the market for $295 million. That property remains on the market, according to the Realtor.com listing.
How Malibu became a megamansion hot spot
In recent years, Malibu has become a hotbed of high-priced property sales, smashing record after record for the most expensive homes, despite the huge risk posed to the area by wildfires.
But according to Rappaport, those lucky enough to be able to afford the area’s most lavish (and expensive) homes, refuse to allow the threat of climate catastrophes to stop them from finding their dream property.
“Isn’t that the point of having money?” he told Bloomberg when asked about Malibu’s popularity. “Living where you want?”
(Realtor.com)
The state record for the most expensive purchase is currently held by a $210 million real estate deal that was brokered in June of this year.
Although details of the sale were kept very much under wraps, it was reported that the seller was Oakley founder James Jannard, who is understood to have scored the multimillion-dollar sum for a 19,340-square-foot, eight-bedroom cliffside mansion that was set on a majestic 9.5-acre plot.
Celebrity hideaway
Before Jannard sold his home, there were plenty of headline-making mansions being sold up and down the Malibu coastline. Many of these homes have been snapped up by A-listers eager to enjoy the relative privacy of the neighborhood, while maintaining proximity to central L.A.
JAY Z and Beyoncé paid a staggering price for that luxury when they bought their 30,000-square-foot fortress last year. Designed by Tadao Ando, the home is perched on an 8-acre bluff in Paradise Cove, which is also known as Billionaires Beach.
(Realtor.com)
Another Malibu home owned by the rapper Kanye West, designed by the same architect, was stripped and left open to the elements, and still found a buyer after dropping the price to $39 million.
Meanwhile, Steve Jobs‘ widow, Lauren Powell Jobs, added a fourth Malibu property to her portfolio in June of this year, when she purchased a $94 million Paradise Cove property.
While very little information has been shared about the home, property records indicate the home is 6,300 square feet with eight bedrooms and six bathrooms. The residence dates to 1956 and sits on 4 acres. Notably, the slender parcel extends to the beach.
The other three adjacent properties she previously picked up added up to an estimated $80 million.
Prior to that, Silicon Valley big wigs Marc Andreessen and Laura Arrillaga-Andreessen picked up a Malibu property for $177 million, which was a record at the time of the purchase, in 2021.
