Power couple Beyonce and Jay Z have just moved in to their new home in L.A., a sprawling 16,000 square feet Holmby Hills mansion. After living in New York for a time, they are now ready to settle in their new house, well at least for a year.
TMZ reports that the couple has just signed a contract to rent the mansion for an entire year for a whopping $150,000 a month. This familiar house, one of L.A.'s most expensive mansions, is the same one Beyonce and Jay Z rented out last summer for a brief stay.
According to TMZ, they previously paid $200,000 a month for rent, but was now able to haggle it for $50,000 less on a longer lease and after dealing directly with the property owners.
The newly-built residence encased in glass-walled pavilions has seven bedrooms, eight and a half bathrooms, an art gallery, two libraries, a 20-feet ceilinged living room, spacious master suite, a fitness and massage room, state of the art theater, a tennis court, wine cellar, and an infinity pool. The three story L-shaped mansion is also equipped with an elevator. The residence is designed and built by world renowned luxury developers Estate Four.
Many wonder why one of the world's most famous couples chose to rent the mansion. Curbed reports that Beyonce and Jay Z were previously outbid by Minecraft creator Markus Persson in a flashy Berverly Hills megamansion where he paid $70 million. So the couple decided to revisit a familiar residence and signed to lease it for a year. The same Holmby Hills mansion is also for sale at $35 million, it initially went in to the market at $48 million. Why the couple didn't opt to buy the property, no one knows for sure.
According to entertainment news site Variety, Beyonce and Jay Z's property portfolio also includes a high-floor condominium unit at One Beacon Court in Midtown Manhattan, and an 8,309 square feet penthouse in TriBeca New York that Jay Z acquired for $6,850,000 in 2004. But for a power couple like them, this is a rather conservative portfolio.
Variety adds that there are rumors of Beyonce and Jay Z enrolling their three year old in one of L.A.'s pricey private schools right in time as they move in to their new home.
