Jennifer Lopez & Ben Affleck's Real Estate Regret Is Turning Into a Reported Blame Battle
Just ahead of the Fourth of July holiday, Realtor.com revealed that the former duo took their $60 million Beverly Hills estate off the market after an earlier $8 million price reduction. Yep, they are going to lose a lot of money on this house. Spanning 38,000 square feet, the residence boasts 12 bedrooms and 24 bathrooms, plus all of the A-list amenities you could possibly imagine: boxing ring, sports lounge, movie theater. Lopez and Affleck thought it would be the perfect place for their blended family.
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Jennifer Lopez Quietly Echoes Jennifer Garner's Thoughts on Being Married to Ben Affleck
Now that they are divorced, the duo is reportedly blaming each other for the real estate nightmare, according to entertainment insider Rob Shuter. 'She never wanted the house. He did. Now she's stuck with it,' a source claimed to #ShuterScoop. 'Jen hated it from day one. It was all Ben's idea. She thought it was excessive—he thought it was private.'
Still, InTouch Weekly sources made contradictory allegations in March 2024. 'Ben was thinking more along the lines of $20 million for the house. But Jen overruled him,' they said. 'Their bills are through the roof. It's all eating away at their bank accounts… The pressure to make money keeps intensifying.'
The search for the perfect home took over a year, and they made their purchase in May 2023 to the tune of $60 million. According to documents obtained by The U.S. Sun in October 2023, they have a $20 million mortgage that's a '30-year home loan with JPMorgan Chase Bank' and it is interest only. They won't be paying off the principal until November 2033, but it's doubtful Lopez and Affleck want to hold onto the estate that long.
Whenever they do decide to put the mansion back on the market, it will still be a loss, instead of a profit-making venture, for both of them, according to Selling Sunset star and real estate agent Jason Oppenheimer. The property lines are in the city of Los Angeles, not Beverly Hills, which makes it subject to a hefty mansion tax.
'The house is located in the Beverly Hills post office area, which is technically in the city of Los Angeles (not the independent city of Beverly Hills), so the mansion tax applies,' he explained to Realtor.com. 'Therefore, they will have to pay a mansion tax of more than $3 million. So, they could lose more than an additional $5 million after commissions, taxes, etc.'
For now, Lopez is living in the home while her Hidden Hills estate is being renovated, and Affleck is residing in his Pacific Palisades residence. But the financial burden of the mega-mansion is a hefty reminder of their short-lived marriage.Best of SheKnows
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