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

By Real Estate August 30, 2017

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!

 

About the Author
Adam Ettenson, Broker / Owner

Adam’s real estate experience encompasses residential sales, renovations, real estate development, property and asset management, and multifamily investment acquisitions. He has helped countless clients buy and sell property throughout the Bay Area, including in San Francisco, Marin County, Alameda County, San Mateo County, and Santa Clara County. He has overseen the condo conversion and major renovation of a two-unit building, and has worked on several affordable housing residential development projects with budgets exceeding $20 million, helping low-income families secure safe, affordable housing. He is currently working on a project that entails adding a condo unit to an existing building as well as a major horizontal expansion and renovation, increasing the total square footage to approximately 1500 square feet. Prior to working in real estate, Adam practiced immigration law and real estate law. His extensive background as an attorney and his broad real estate experience allow him to faithfully advance his clients’ interests in both the purchase and sale of real estate. Adam’s clients benefit from strong negotiation skills, contractual expertise, and deep knowledge of local rules and regulations.