Jennifer Lopez Moves Out as $68M Beverly Hills Mansion Likely to Cost Affleck and Lopez $25M
Ben Affleck and Jennifer Lopez's opulent Beverly Hills mansion, currently listed for $68 million, is projected to result in a staggering financial loss of $25 million, according to a real estate expert. The sprawling estate, which boasts 12 bedrooms, 24 bathrooms, and a range of extravagant amenities, has struggled to attract buyers since its listing in July, raising questions about its value and marketability.
The contemporary mansion, set on a five-acre lot, features an infinity pool, a sports lounge, and even a boxing ring. Despite these luxurious additions, the property has faced criticism for its size and location. The estate was initially listed at $100 million before undergoing extensive renovations to match Affleck and Lopez's personal tastes. However, these upgrades may not have been sufficient to offset the house’s drawbacks.
The real estate investor who spoke to Paula Froelich of NewsNation described the mansion as a "huge white elephant," criticizing its "mish-mosh of styles with a faux French roof" and deeming its amenities, such as an indoor sports complex, as "silly and not necessary." The mansion’s design has been labeled aesthetically unpleasing, which, combined with its exorbitant price tag, has made it a difficult sell.
In addition to the purchase price, the future owner of the mansion will be burdened with substantial annual costs. The property incurs a hefty tax bill of $762,000 per year, alongside $750,000 in insurance and maintenance expenses, totaling at least $1.5 million annually. This financial strain could further deter potential buyers who might prefer a more manageable property.
The mansion's current market challenges reflect a broader trend in luxury real estate, where oversized and highly personalized homes often struggle to find buyers. The expert likened the mansion to a "big, flawed diamond," suggesting that potential buyers might prefer spending less on a smaller, impeccably refined property rather than investing in a larger but flawed one.
Recent developments in Affleck and Lopez's personal lives have further complicated the sale of the mansion. A U-Haul truck was spotted outside the estate, signaling Lopez’s departure from the property. Sources close to the couple have indicated that Lopez, feeling increasingly uncomfortable in the massive home, is moving out as part of their ongoing divorce proceedings. The mansion, originally purchased for their blended family, has become emotionally burdensome for the singer.
Lopez has been actively searching for a new home since May, though she has yet to secure a suitable replacement. Meanwhile, Affleck has already moved on, purchasing a $20.5 million mansion in Brentwood on July 24, coinciding with Lopez’s 55th birthday. This new residence marks a new chapter for Affleck as the couple navigates their separation.