Eight years ago Beyoncé & Jay Z purchased a concrete fortress in Bel Air for $90 million [click here if you missed that].
Now the billionaire couple have taken out a $57.7 million mortgage on the property...
From The Daily Mail
Their combined net worth is estimated at $3billion, but Jay-Z and Beyoncé have taken out a $57.75million mortgage on their beloved Bel Air mansion, bringing their total borrowing on the property to a whopping $110million, DailyMail.com as learned.
Given their wealth and their extensive property portfolio of at least four luxury homes, the superstar couple's new 30-year loan from Morgan Stanley Private Bank has raised eyebrows.
They bought the Bel Air mansion for $88million in 2017 and opted to keep it when they purchased what was billed as California's most expensive home in Malibu for $200million cash in 2023.
The two kept the Bel Air property, viewing the estate as 'home', partially due to its proximity to the school attended by their children - Blue Ivy, 13, and twins Rumi and Sir, 8.
But the Houston-born 43-year-old and the Brooklyn-born 55-year-old's decision to hold on to the house has now saddled them with another 30-year loan with an interest rate of five percent for the first ten years - totaling $310,000 a month.
This is coupled with their second 30-year mortgage they took out four years ago for $52.8million with Goldman Sachs at a 3.15 percent rate, with repayments working out at a $226,901-a-month.
They borrowed $52.8million to buy the place and refinanced again in 2021 with Goldman Sachs for the same amount, before adding a further $57.75million borrowing in April this year.
This revelation is more eye-catching as the pair paid nearly $200million for another property in Malibu - in cash.
In March 2023, they stumped up the mammoth amount to buy their Malibu home, which at the time smashed all real estate records in California and was the highest amount paid for a home in the US that year.
The seaside estate is located on an eight-acre bluff that overlooks the Pacific Ocean in the Paradise Cove area nicknamed Billionaires' Row.
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