Jennifer Lopez and Ben Affleck have finally discovered true real estate love after nearly two years of house-hunting and at least five failed escrows. And according to TMZ, which first reported this massive transaction, that love didn’t cost more than $61 мιIIιоn, the amount the honeymooners paid — in cash, no less — for their colossal compound atop the Benedict Canyon neighborhood in the mountains above Beverly Hills.
Still, that number could be considered a blue-plate special. The 5.2-acre property, which has been on and off the market for five years, was most recently listed for $75 мιIIιоn after being offered for an astounding $135 million when it was featured in Robb Report.
The mansard-roofed, vaguely neo-Palladian main home was constructed by a local builder in the early 2000s and has an interesting ownership history. In 2002, it was sold for $11 мιIIιоn to the former CEO of MGM Studios, Alex Yemenidjian. Two years later, Yemenidjian sold the mansion to Curtis Somoza, a convicted Ponzi schemer serving a 25-year prison sentence, for $14 million. In 2007, the property was sold for $16.8 мιIIιоn to a Korean woman who had amassed her fortune through nursing facility ownership.
Throughout the following decade, the property fluctuated between foreclosure and rental to parties and short-term tenants. In 2015, it was briefly occupied by a Saudi prince who was detained over alleged ꜱеҳual assaults he performed at the property.
In 2016, the property was purchased for $22 мιIIιоn by high-end home builder Gala Asher, who subsequently spent incalculable мιIIιоn modernizing the outdated mansion. In addition, he constructed a separate 5,000-square-foot sports complex with an indoor pickleball court, lounge area, fitness center, and boxing arena, as well as a two-bedroom guard house.
Other amenities include a 10-car garage and off-street parking for up to 80 more cars, a covered entertainment pavilion with a complete outdoor kitchen, a 155-foot infinity pool, grassy lawns for play, and no less than 24 bathrooms located throughout the property. The property is situated within a gated community and is further protected by its own enormous driveway gates, making it a true sanctuary.
As a prolific developer in Southern California, Asher is best known for constructing opulent spec-mansions that have been purchased by celebrities and billionaires. Kylie Jenner purchased a custom-built mansion in Holmby Hills for $36 мιIIιоnꜱ three years ago, and he also constructed Kris Jenner’s much-photographed home in La Quinta. Asher sold a $100 мιIIιоnꜱ Holmby Hills estate to industrialist Tom Gores in 2017 and a $21 мιIIιоnꜱ La Quinta estate to Vivint founder Todd Pedersen earlier this year. And in early 2015, he sold a particularly elegant home across the street from the Beverly Hills Hotel for $35 мιIIιоnꜱ to hedge fund tycoon Steven Cohen.
Affleck sold his $28 мιIIιоnꜱ Pacific Palisades bachelor apartment last year, and Lopez recently listed her $42 мιIIιоnꜱ Bel Air estate for sale. Lopez, Affleck, and their blended family are already set to move into their new home.