Ben Affleck and Jennifer Lopez's lavish Beverly Hills mansion, currently on the market for $68 million, may cost the former couple a whopping $25 million loss, according to a real estate investor. The expert claims that the 12-bedroom, 24-bathroom, 5-acre estate is overpriced, poorly located, and too big, making it a hard sell.
The contemporary home was listed in July of this year but has yet to find a buyer. The multi-split-level house features an infinity pool, sports lounge, boxing ring, a spacious 12-car garage, and parking for 80 vehicles. The source also noted that the property sat on the market for years when it was first built, listed at $100 million, and required millions of dollars in renovations to suit Affleck and Lopez's tastes.
The house, built in 2001, is a "mish-mosh of styles with a faux French roof" and is considered aesthetically unpleasing. Real estate investor told Paula Froelich of NewsNation that the property is "a huge white elephant" with amenities that are "just silly and not necessary," such as an indoor sports complex.
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Astronomical Tax Bill and Maintenance Costs
The buyer must pay the hefty purchase price and contend with an astronomical tax bill of $762,000 annually, plus an additional $750,000 for insurance and maintenance. This brings the total annual cost to at least $1.5 million to keep the lights on.
The insider likened the property to a "big, flawed diamond," suggesting that potential buyers with the means to afford it would rather spend $10 million on a smaller, perfect diamond than $5 million on a larger diamond with visible flaws. With the California mansion tax and realtor fees, Affleck and Lopez will also lose at least 10% of the proceeds from the sale of the house, which they will have to split.
Jennifer Lopez Allegedly Leaving Beverly Hills Mansion
Recently, a U-Haul truck was parked outside their expansive Beverly Hills mansion, marking a significant development in the couple's ongoing divorce proceedings.
Sources confirm that Lopez, feeling increasingly uncomfortable in the grand estate, is moving out. The mansion, originally purchased for their blended family, has become too large and emotionally charged for the singer, according to an insider who spoke with People.
Lopez has been searching for a new home since May but has not found a suitable place to call her own. As she continued her search, Affleck had already made his move, closing on a $20.5 million mansion in Brentwood on July 24, which also marked Lopez's 55th birthday.
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