Beyoncé and Jay-Z’s new $88 million Home & Their $150,000 a month mortgage payment

Adam Ettenson Real Estate Leave a Comment

Beyoncé and Jay-Z just purchased a $88 million home in Bel Air. The main premise of the article is that financing 60% of the purchase with an adjustable rate mortgage in the amount of $52.8 million is likely a good business decision.  Mortgage rates continue to be historically low and therefore financing the purchase frees up their cash for other, more profitable ventures. That said, the median price of a home in Bel Air is $3.25 million and another axiom of wise home buying is not to buy the most expensive house on the block…unless you’re Beyoncé and Jay-Z that is!

 

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Adam Ettenson

Adam Ettenson, Real Estate Broker. Recovering Attorney. Passionate about real estate, the community, and the environment. Living, eating and breathing all things real estate since 2004.