Longtime L.A. house hunters Jay-Z and Beyoncé were reported to have made a pearl-clutching $120 million offer against a staggering $135 million asking price in the NY Post’s Page Six column a few months ago, but it turns out the deep pocketed couple actually paid the significantly lower amount of $88 million in an off-market deal for a sleekly flamboyant spec-built compound in the mega-prime East Gate area of L.A.’s

The contemporary estate is situated on a two-acre plot of land. The house is made up of six buildings with a total area of 30,000 square feet. It features a helipad, a 15-car garage, a complete basketball court, a spa, a movie room, and four excellent outdoor swimming pools. For visitor arrivals, there is a lovely motor court, as well as lots of private parking for guests and employees.

According to the Los Angeles Times, the house is the power couple’s first Los Angeles home and is the highest-selling deal in Los Angeles County in 2017, surpassing David Geffen’s $85 million Malibu mansion purchased in May.

According to public records, the money-making entertainment icons have a $52.8 million mortgage on the house, which, according to the L.A. Times’ property gossip, amounts to 30 years of monthly payments of $252,075, which is more than 97 percent of Americans make in a year.

Dean McKillen, the home’s previous owner, is the millionaire son of successful Irish property developer Paddy McKillen. About four years ago, the son paid $15 million for the property through a business. After deducting the money he spent on improvements over the previous several years, McKillen earned a tidy profit on the sale.

The spectacularly successful international entertainment industry royals, who, according to Forbes, have a combined net worth of $1.16 billion (and counting) and can therefore comfortably afford a quarter million dollar per month mortgage payment, have hopped around to a handful of exuberantly high-priced rentals in some of L.A.’s fancier zip codes over the last few years. They were most recently residing at a 6.3-acre bluff-top Malibu mansion for which they reportedly spent $400,000 per month. They also own an 8,309-square-foot condominium in lower Manhattan’s Tribeca area, which they purchased for $6,850,000 in 2004 and married in April 2008.

Lemonade, Beyoncé’s most recent endeavor, has been a huge hit. She’s now in talks with the makers of the upcoming James Bond film to write the film’s theme song.