Jennifer Lopez Sells Beverly Hills Mansion After Two Years and Steep Discounts
The singer and actress has found a buyer for the property she purchased with Ben Affleck, which was listed at $68 million and is now in escrow for $50 million.
Jennifer Lopez has found a buyer for her Beverly Hills mansion, marking the end of a two-year sales process that included significant price reductions. The property is currently in escrow, with the sale pending.
Lopez and her ex-husband Ben Affleck purchased the 46,000-square-foot estate on Wallingford Drive for $60.9 million in May 2023. After their divorce, Lopez took full ownership as part of their February 2025 settlement. The home was initially listed for $68 million, but after three price cuts, it was most recently asking $50 million. This represents a discount of more than 25% from the original listing price.
The buyer is reportedly in the tech and finance industries, and their identity is described as well-known. The final sale price has not yet been disclosed.
Financial Impact for Lopez
Beyond the reduction from the purchase price, Lopez faces substantial expenses. The property is subject to the City of Los Angeles's mansion tax, which amounts to 5.5% of the sale price. Additionally, broker commissions, estimated at 5%, could total approximately $2.5 million. County records indicate that Lopez's annual property tax payment of $378,000 is up to date.
Market Conditions and Similar Sales
The sale comes amid a challenging luxury real estate market in the area, with many high-end properties experiencing price cuts. For instance, Rod Stewart's nearby home, initially listed at $70 million and later raised to $80 million, sold for $64 million. Casino mogul Steve Wynn accepted an offer of $50 million for his villa, down from an initial asking price of $135 million. Drake is also attempting to sell his property, which was first listed for $88 million and later reduced to $79 million before being taken off the public market and relisted privately.
Property Features
The Beverly Hills estate, situated on 5.2 acres, features 12 bedrooms and 14 bathrooms. The home includes a double-height foyer, a living room with a marble fireplace and a hidden wet bar, and a 100-seat theater with acoustic paneling. The dining room can accommodate approximately 30 guests. Lopez's personal touches include a "glam" room with professional beauty stations, a dance rehearsal area, and a recording studio. Affleck's interests are reflected in sports posters and a 5,000-square-foot "Sports Pavilion" with a boxing ring and basketball and pickleball courts.
Outdoor amenities include a 12-car garage, an 80-vehicle motor court, a 155-foot pool with canyon views, and private cabanas. The property also includes a 5,000-square-foot guest cottage with its own security checkpoint.