Monday 23 April 2018

Beyoncé and Jay Z buy $90m LA mansion off Irish developer McKillen

Beyoncé and Jay Z have sealed a deal for the luxury mansion, 454 Cuesta Way in Bel Air in LA
Beyoncé and Jay Z have sealed a deal for the luxury mansion, 454 Cuesta Way in Bel Air in LA
Ronald Quinlan

Ronald Quinlan

Beyoncé and husband Jay Z have reportedly closed a $90m (€76.5m) deal to buy a mansion in LA's exclusive Bel Air neighbourhood developed by Dean McKillen, the son of Belfast-born property investor Paddy McKillen.

While the deal has yet to be publicly recorded, the 'Los Angeles Times' reports that it will be the most valuable transaction to have been conducted this year in Los Angeles County, topping the $85m sale of billionaire movie and music mogul David Geffen's compound in Malibu.

In an extra coup for the McKillen family, the sale of the 30,000sq ft property was handled by Dean's brother Tyrone, in his capacity as a broker with Hilton & Hyland, the leading LA real estate agents and luxury homes specialists.

The house at 454 Cuesta Way is located in Bel Air's most exclusive area of East Gate.

Panoramic

Designed by Irish architect Paul McClean, the sprawling mansion has eight bedrooms, 11 bathrooms, four swimming pools, a basketball court, a recording studio, a spa, staff quarters and limestone floors. Glass-walled common areas open on two sides to enjoy panoramic views. The pocketing glass doors and windows are bulletproof.

Read More: Beyonce and Jay Z pay Irish developer McKillen $90m for LA mansion

Outside, extensive patios and terraces create an additional 10,000sq ft of living space.

The property also has the benefit of garage space for 15 vehicles.

While the property cost a significant amount to develop, the reported $90m paid by Beyoncé and Jay Z to secure ownership is set to deliver a handsome profit for Dean McKillen. The developer acquired the original property through a corporate entity four years ago for $15m.

Dean's brother Tyrone, meanwhile, was recently ranked 14th on US property magazine 'The Real Deal's' ranking of LA's leading luxury real estate agents.

Irish Independent

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