BEL-AIR, CA – JAY-Z and Beyoncé have finally settled on a home large enough for the whole family and are now officially Los Angeles residents.
The power couple purchased their $88 million Bel-Air mansion with a mortgage amount of $52.8 million. According to the Los Angeles Times, that amounts to mortgage payments totaling $252,075 per month over 30 years, assuming the interest rate is four percent.
The luxury pad boasts 30,000 square feet of living space, a full-sized basketball court, four outdoor swimming pools, a spa and staff quarters across a two-acre estate.
The two finally landed their home after continuously getting outbid over the past three years. While on the hunt, they rented out an L.A. mansion for $150,000 a month.
Now, their million dollar domain trumps David Geffen’s $85 million dollar Malibu purchase earlier this year for the largest purchase in Los Angeles County. It’s the sixth largest sale of a single family home in L.A.