After initially listing her Bel Air property for $42.5 million, entertainer Jennifer Lopez has sold the estate for $34 million, still $6 million more than her 2016 purchase price.
The buyers, Taiwanese businessman Walter Wang and his wife Shirley, are no strangers to the neighbourhood.
Walter Wang is the CEO of JM Eagle, the world’s largest manufacturer of plastic and PVC pipe, and Shirley Wang is the founder and CEO of Plastpro, a leading fibreglass door manufacturer.
The couple already owns two other homes in Bel Air, valued at $2.1 million and $3.9 million,” according to the Robb Report.
With this latest acquisition, they now possess more than nine acres of land and three homes boasting a total of 18 bedrooms, 23 bathrooms, and over 2136sq m of living space.
Originally built in 1940 and designed by architect Samuel Marx, the property underwent significant renovations under Lopez’s ownership.
It is now described as a “unique multi-structure French Country refuge.”
Spread across nearly eight acres, the estate features nine bedrooms, 13 bathrooms, and opens up to extensive terraces.
Amenities include a guest cottage, gym, 100-seat amphitheater, fire-pit pagoda, putting green, an infinity pool, spa, and a private lake complete with a sandy beach.
The home also offers a wet bar-equipped living room, a formal dining room, wood-panelled library, and a gourmet kitchen with a stone fireplace.
Additional leisure spaces include a spacious family/game room and a plush movie theatre.
The master bedroom suite features a fireplace, library, and dual dressing rooms and baths.
Lopez and her actor husband Ben Affleck had initially planned to renovate and live in the mansion but instead chose to reside in a rental property.
They later purchased a $61 million compound in Beverly Hills.
The pair also own multiple other properties, including an 87-acre estate in Georgia currently listed for $8.9 million.