J. Lo and Ben Affleck reportedly snag a bargain

PHOTO: Ben Affleck and Jennifer Lopez. TRAVEL + LEISURE

After a whirlwind romance that was reignited after a twenty-year hiatus, as well as two weddings and numerous real estate speculations, it appears that celebrity power couple Ben Affleck and Jennifer Lopez may have finally discovered their dream home.

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TMZ reports that the duo recently acquired an extravagant mansion in Beverly Hills. The property was sold for a staggering $60,850,000 at the end of May.

At first glance, the price may seem astonishing, but when considering that the property was initially listed for $135 million in 2018, it becomes more understandable.

So, after an extensive search among luxurious residences in the Los Angeles area, how did the happy couple manage to secure this particular property? And, more importantly, what led to the drastic reduction in price? Knowing their penchant for extravagance, it’s intriguing to discover how they acquired a home at more than half the original asking price.

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To shed light on this intriguing deal, we spoke with industry insiders specializing in luxury real estate.

No strangers to opulent properties, both megastars have recently made significant moves in the real estate market. Affleck placed his Pacific Palisades bachelor pad on the market in 2022, and it swiftly sold for $28.5 million.

(Getty Images / Realtor.com)

Lopez, initially intending to renovate her lavish living space to accommodate her blended family, changed her plans and listed her grand estate in Bel Air earlier this year for $42.5 million. Despite a few months on the market without any takers for the nearly 8-acre property, the price has since been reduced to just under $40 million.

The couple has been spotted house hunting in the Los Angeles area since 2021. As recently as March, there were rumors that they had their sights set on a $64 million Pacific Palisades residence. While exploring various locations in Southern California, Lopez and Affleck have enjoyed living together in luxurious settings such as Miami Beach, Montana, and the Hamptons.

Curiosity piqued, let’s delve into their (likely) chosen settlement. Here’s an inside look.

Introducing the Wallingford estate, an impressive 38,000-square-foot mansion nestled on 5 acres in Beverly Hills. This magnificent property boasts 12 bedrooms and 24 bathrooms and has been marketed as one of the most iconic estates in the area. Accessible only through two entrances from private and gated streets, this celebrity-ready fortress exudes exclusivity.

Ben Affleck sold his Pacific Palisades pad.

(Realtor.com)

Highlighted features include a 5,000-square-foot guest penthouse, a caretaker house, a two-bedroom guardhouse, and parking space for over 80 cars. The grounds feature a striking zero-edge pool, serving as the focal point within the beautifully landscaped surroundings.

In 2018, the Wall Street Journal reported that the property, designed by developer Gala Asher, was acquired for $22 million in 2016. Asher then reimagined the existing mansion, and two years later, the resplendent estate hit the market with a record-breaking price tag of $135 million, making it the most expensive home on Realtor.com® at that time.

J. Lo’s compound on the market

(Realtor.com)

Despite offering an array of amenities, such as a sports facility with a pickleball court, a boxing ring, a sports lounge, and a bar, the mansion struggled to attract buyers and underwent several price reductions over the past five years. Eventually, in March, the price dropped to $75 million. It seems that Lopez and Affleck managed to secure a deal for an even lower amount.

Profile a Property FOR SALE – UNTIL SOLD | $99 plus GST

So, did the couple strike a real estate bargain with this purchase?

“I believe they got a fantastic deal at $60 million,” says Myra Nourmand, a luxury real estate agent at Nourmand & Associates. “The initial listing price was considerably higher. They definitely obtained great value at this

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