Beyonce and Jay-Z interested $135 million LA mansion

Investment in property seems to go hand-in-hand with the celebrity community and if the rumours are correct, Beyonce and Jay-Z have expressed an interest in a $135 million LA mansion. This is not the first time that the couple have invested heavily in real estate but if successful it would be a record for the state of Los Angeles. So, what is the story behind Beyonce and Jay-Z’s interest in the $135 million LA mansion?

Property not even finished yet

Tyrone McKillen is a well-known L.A based developer and real estate broker with roots back in Ireland. The high-end mansion is located in the Bel-Air neighbourhood and while not even completed yet it is already attracting significant attention. The property has been put on the market at $135 million although if the rumours are correct Beyonce and Jay-Z have offered “just” $120 million.

The property itself boasts 30,000 ft.² and was built by Tyrone’s brother Dean in the most exclusive area of Bel-Air, East Gate. Designed by Irish architect Paul McClean there is obviously a very strong Irish connection. When you bear a mind the property has eight bedrooms, 11 bathrooms, four swimming pools, a basketball court, recording studio, spa, staff quarters and limestone floors throughout this is not your stereotypical LA mansion. There is no doubt that Tyrone McKillen has gone above and beyond traditional expectations which is reflected in the $135 million asking price.

Indoor outdoor living

There are some interesting statements in the glossy brochure one of which suggests that the property has an optional indoor outdoor living environment. This seems rather bizarre at first glance but at the simple press of a button all of the huge heavy doors around the property fall into the wall opening up to the gardens and the pools. When you bear in mind the number of swimming pools, bedrooms, etc it will be interesting to see whether other parties step forward or whether Tyrone McKillen accepts the $120 million bid from Beyonce and Jay-Z and moves on to his next venture.

He is a well-known mover and shaker in the LA real estate market and just the slightest glimpse of this property and its gardens shows you why. There are no figures to confirm how much the property cost to build but at $135 million there must be a significant profit in that?

Growing demand for high-end mansions

The US real estate market has had a troubled few years to say the least but just lately there has been strong demand for high-end mansions. Even at the low price of $120 million, the bid from Beyonce and Jay-Z would represent a record for the region at a time when some investors are questioning the value of real estate. So far Tyrone McKillen has not responded officially to the $120 million offer which would be a $15 million reduction on his original asking price. However, when you bear in mind the amount of money invested in the property surely a quick sale with a potential loss of $15 million is worth serious consideration?

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