Earlier, Jay-Z reportedly sold his controlling interest in the D’ussé Cognac brand to Bacardi for $750 million. With this windfall, it’s no surprise that he and Beyoncé chose to reinvest a portion of their earnings in an extravagant Malibu vacation home. The power couple reportedly spent $200 million on a Brutalist-style mansion perched above Paradise Cove.

This purchase set a new record for the highest price ever paid for a home in California, eclipsing the $177 million estate next door, and becoming the second-most expensive property sale in U.S. history. Although the mansion was privately listed at $295 million, the Carters managed to secure it for a significant discount.

The property boasts some impressive features: 8 acres of blufftop land with panoramic ocean and coastline views, private access to one of Malibu’s most scenic beaches, and a 40,000-square-foot mansion designed by acclaimed Japanese architect Tadao Ando, in collaboration with Los Angeles-based WHY Architects.

Originally commissioned by Bill and Maria Bell in the late 1990s — Bill being the son of the creators of the iconic soap operas “The Young and the Restless” and “The Bold and the Beautiful” — the house took 15 years to plan and build, finally completed in 2014. The Bells designed the property in part to showcase their vast collection of modern art, featuring works by renowned artists such as Jeff Koons, Andy Warhol, Damien Hirst, and Marcel Duchamp.

While many details about the home remain undisclosed due to its private sale, aerial photos reveal a sprawling backyard with lush lawns, two massive outdoor pools (one of which serves as Ando’s signature reflecting pool), and extensive use of concrete throughout the estate. Pacific Pervious Concrete supplied 22,500 square feet of polished concrete for the driveway and motorcourts, while Morley Concrete provided 7,645 cubic yards of concrete for the home’s construction. The minimalist design extends inside, though the exact number of bedrooms and bathrooms remains unknown.

This Malibu mansion is not Ando’s only creation in the area. Kanye West bought a smaller, Ando-designed home nearby for $57 million two years ago.

In addition to their new Malibu retreat, Beyoncé and Jay-Z own a penthouse in New York City and a Hamptons estate. Their main residence, however, remains an $88 million mansion in the exclusive Bel Air neighborhood of Los Angeles.