It’s been over 100 days, and no one has written a check for Jennifer Lopez and Ben Affleck’s sprawling Beverly Hills estate. That’s right—100 days! And for $68 million, you’d think this place would be flying off the market like hotcakes. But hold your horses, because the story behind this unsold mansion is as juicy as a Hollywood tabloid.
The Power Couple, the Palace, and the Plot Twist
Let’s rewind for a moment. In May 2023, the dynamic duo of J.Lo and Ben Affleck decided to splash out a whopping $60.8 million on a jaw-dropping Beverly Hills mansion. And why wouldn’t they? It’s practically an estate fit for royalty. The place has everything—12 bedrooms, 24 bathrooms (yes, 24!), a 38,000-square-foot living area, and a 5.2-acre lot, because apparently, 5 acres is the minimum for Hollywood elite.
But, as celebrity stories often go, drama struck. The ink wasn’t even dry on their renovation plans when, boom—Ben and Jen called it quits. Cue the sad violins. The mansion, once a love nest, was suddenly back on the market with a cool price increase to $68 million. Because if you’re gonna break up, you might as well make a little profit, right?
100 Days and Counting: Why No Buyers?
So here we are, 100 days later, and no one’s moved in yet. If you’re wondering why, let me take you behind the velvet rope. According to Jason Oppenheim—you know, the guy from Selling Sunset—this isn’t exactly surprising. Oppenheim points out that for homes in this price range, it’s actually pretty normal to sit on the market for six months or more. Yep, rich folks are picky.
Now, let’s be real for a second. There’s a buyer pool for homes like this, but it’s the size of a kiddie pool compared to, say, homes in the suburbs. We’re talking about the 1% of the 1%, the folks who can drop $68 million and still have enough cash left over for a $500 dinner at Nobu without batting an eyelash. And those people aren’t just going to buy any ol’ mansion. They want the mansion.
Imagine going car shopping. Except you’re not at the Honda dealership; you’re in a showroom filled with Ferraris, Lambos, and Aston Martins. Do you buy the first one you see? Of course not! You test drive a few. Maybe you even wait for a price drop. Same thing happens with luxury real estate—these buyers know they can afford to be choosy.
Get your free guide “Passive Real Estate Investing For Busy Professionals”
The Hidden Costs of Living Like a Celebrity
It’s not just the hefty price tag that might be making potential buyers hesitate. The monthly costs of maintaining a house like this could make even the wealthiest person think twice. We’re talking around $283,666 per month. That’s more than most people’s yearly salary, and that’s just for keeping the lights on, paying taxes, and making sure the lawns are perfectly manicured.
Oh, and don’t forget the staff: the caretakers, security, gardeners, and someone to make sure your 12-car garage stays spotless. You’ve got taxes, homeowners association fees, and the kind of mortgage payment that could fund a small country’s GDP.
Comparisons? Not Many
Sure, there are other homes in the area in the same price range, but let’s break down why this one stands out. For example, there’s James Jannard’s brutalist-style cement fortress in Trousdale Estates, which looks like a Bond villain’s lair. It’s listed at the same price, but it only has 18,000 square feet of living space compared to Lopez and Affleck’s 38,000-square-foot behemoth. And only five bedrooms? Pfft, that’s child’s play in the luxury home world. You’d almost think you were getting a deal with J.Lo’s place.
Then there’s “The Peak” in Beverly Hills, priced at $65 million. While it claims to have the “best view in all of Los Angeles” and even boasts a pine forest (seriously, a forest), it’s only got four bedrooms. Four! Compare that to the 12 in Lopez and Affleck’s mansion. It’s like trying to compare a steak dinner to a fast-food burger.
And if size really does matter—and let’s be honest, with houses like these, it usually does—then J.Lo and Ben’s place is still a winner. The only real competition in terms of size is a $119.9 million mansion nearby, but that’s been sitting on the market for over a year, and it still hasn’t budged.
Will They Lose Money?
Oppenheim has some bad news for the former couple. It’s likely that even if this mansion sells, it won’t be for the $68 million price tag. In fact, Oppenheim predicts they could end up selling it for somewhere between $58 million and $60 million. A couple million bucks may not seem like much to J.Lo and Ben, but losing millions isn’t exactly the Hollywood ending anyone wants.
Oh, and the fun doesn’t stop there. The house is located in the Beverly Hills Post Office area, which technically means it falls under Los Angeles jurisdiction. Translation? Mansion tax. That’s right—Affleck and Lopez will have to cough up more than $3 million in taxes just to sell the place. And with commissions and other fees factored in, they could be looking at a total loss of over $5 million.
So yeah, if you’re feeling bad about your rent going up by a couple hundred bucks, just remember that even celebrities have financial headaches.
Click here to learn more and subscribe to the newsletter
Don’t Cry for Them, Argentina (or L.A.)
Now, before you start organizing a GoFundMe for J.Lo and Ben, relax. These two are doing just fine. Ben, for instance, didn’t waste any time after the split—he snapped up a $20.5 million bachelor pad in Pacific Palisades. His new place comes complete with wood-beamed ceilings, garden views, and a guesthouse. You know, the essentials.
Meanwhile, J.Lo is still hanging onto her Star Island compound in Florida. If you thought the Beverly Hills mansion was impressive, her Miami Beach palace is even more jaw-dropping. It’s got 10 bedrooms, views of Biscayne Bay, and a private dock where she can park her yacht. So yeah, they’re both sleeping pretty comfortably these days.
The Bottom Line
At the end of the day, real estate for the ultra-wealthy operates in its own universe. For the rest of us, buying or selling a home means making quick decisions. But when you’re in the $68 million club, time is on your side. The house will eventually sell—it always does—but it might take longer than J.Lo and Ben hoped.
So, if you ever feel frustrated because your house hasn’t sold after a couple of weeks, just remember: even Jennifer Lopez and Ben Affleck are playing the waiting game in the world of luxury real estate. But hey, if you’ve got an extra $68 million lying around, maybe you can give them a call and speed things up!
*This article is based on publicly available sources and is intended for informational purposes only. We do not claim ownership of the content used and encourage readers to refer to the original materials from their respective authors.
Interested in multifamily real estate investing? Our experienced team is here to help. From market research to identifying the best opportunities, we guide you through the process. Follow us on Instagram for exclusive content. Explore our comprehensive Udemy course for detailed insights and strategies. Ready to elevate your investment journey? Contact us now to schedule a consultation and achieve your financial goals in real estate.
* Disclaimer: The content provided on this website is intended for educational and informational purposes only and does not constitute investment, financial, or tax advice. We strongly recommend that you consult with qualified professionals before making any financial decisions. Past performance of investments is not indicative of future results. The information presented here is not a solicitation or offer to buy or sell any securities or investments. Our firm may have conflicts of interest, and we do not guarantee the accuracy or timeliness of the content provided. Investing involves risks, and you should carefully consider your financial situation and consult with a financial advisor.