2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • du Cap Collection
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • Inside Beyoncé And JAY-Z’s R1,2 Billion LA Mansion

    30 Aug 2017 by Sloane Hunter in Celebrities, Entertainment, Property, Vibe
    Related Posts
    • All The Real Estate Steven Spielberg Owns, Including A Mega-Yacht
    • Fit For A King: Inside Meghan & Harry's R570 Million Netflix Mansion [Video]
    • The Gupta's Ramshackle Constantia Mansion Is On The Market For A Hefty Sum [Video]
    • Unbelievable R15m Plot In Misty Cliffs Could Allow For A Boutique Hotel
    • Atlantic Seaboard, Eat Your Heart Out: The World's Most Expensive Homes

    After the birth of their twins, Queen Bey and her hubby have finally chosen the place they will bring up their family.

    For now, at least.

    The winning abode is an $88 million (R1,2 billion), two-acre hillside estate in Bel Air, Los Angeles, the billion dollar power couple making the sixth-priciest home purchase in the history of Los Angeles to obtain it, reports Business Insider.

    Other than 30 000 square feet of living space “housed in six glass-walled structures” the house is pretty impressive, details Variety:

    The monumental, ultra-modern compound, designed by architect Paul McLean and spec built by Dean McKillen, son of Irish billionaire property developer Paddy McKillen, is hidden behind massive iron gates on about two hillside acres and comprises six sleek, glass-walled buildings that combined encompass around 30,000-square-feet of living space with a total of 8 bedrooms and 11 bathrooms.

    A sculptural circular staircase in the three-story main residence is lined with leather and vast banks of bulletproof floor-to-ceiling glass panels throughout the compound open electronically at the touch of a button.

    Another 10,000-square-feet of outdoor living space includes an outdoor lounge under a cantilevered roof along with four outdoor swimming pools, a full-sized basketball court, a spa and wellness center, garaging for 15-cars and separate staff quarters.

    The property also has:

    • four outdoor pools
    • a spa and wellness center
    • a full-sized basketball court
    • a 15-car garage

    Take a look:

    Despite being Forbes’ highest-paid celebrity couple in the world, holding a combined fortune of $1,16 billion (R15 billion), the two were able to secure themselves a whopping $52,million (R688 million) mortgage from Goldman Sachs for the purchase.

    That leaves the couple with a massive monthly payment of $149,600 (R1,9 million).

    But why? Well:

    [I]t could also allow them to continue investing heavily in tech companies, presumably earning returns greater than the amount of interest they’ll pay, considering mortgage rates are still historically low in the US.

    A massive loan at a low interest rate? Winning.

    Also, Robert Cohan, a managing director at Carlyle Financial in Los Angeles, told Business Insider that:

    “Depending on how their portfolio looks — what they’ve invested in — I think there could be a huge benefit [to Beyoncé and Jay-Z]. It gives them flexibility, and they could pay the mortgage off anytime.”

    Due to the loan being available in public records, here’s what we know about the way the two went about securing their home:

    The couple put down 40% of the purchase price — $35.2 million — in cash and financed the mortgage through two separate trusts, public record shows. Their loan is a five-year adjustable-rate mortgage with an initial rate of 3.4%, meaning the rate will stay the same for the first five years and then adjust annually based on Libor, a benchmark rate used by the world’s leading banks.

    Until then, they’ll be making interest-only payments.

    Of course, there are various risks associated with dealing with a loan in this size, from both sides, but if it works, it works.

    I am sure Beyoncé wouldn’t make a decision without a whole lot of thought and preparation behind it.

    [source:businessinsider&variety]

    • ← This Could Be The One Reason That Convinces You To Switch To Fibre
    • Watch As Vehicle And Train Have Full-On Collision In Krugersdorp [Video] →
    • Tweet
    • Tags:
    • Beyonce
    • Jay-Z
    • mansion
    • property

    Latest News

    • Death Goes Vegan – Human Composting, A Green Alternative?

      Nobody wants to think about death on a Monday morning (depending on how hard you partied o...

    • Glider Pilot ‘Lands’ On Mountain Slope

      [imagesource:needpix] We have to admit that it's not often you hear of a pilot landing ...

    • Woolies Klaps Back, But Have They Read This Report?

      [imagesource:woolworths] It was only last week that South Africans had a confused chuck...

    • A Zoo Is Allowing You To Name A Cockroach After An Ex And Feed It To An Animal This Valentine’s Day

      [imagesource: San Antonio Zoo] Whether it's sweet revenge, a wish that your ex will qui...

    • You Gotta Love The Dutch – Fascinating Timelapse Of A 7 000-Bicycle Underwater Parking Garage Being Built [Video]

      [imagesource:needpix&dutchcyclingacademy.com] The Dutch have never been afraid of a...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo