Jennifer Lopez is considering making significant investments in her real estate portfolio following her recent divorce from Ben Affleck. The singer-actress is in talks to purchase the famous Azria Estate in Holmby Hills, a stunning property known for its grandeur and celebrity history. However, the purchase is not as easy as it looks, as it will have to overcome legal and financial hurdles.
According to TMZ, Lopez is currently in talks to purchase the Azria Estate, a 30,000 square foot mansion valued at $55 million. However, J. Lo is reportedly attempting to lower the price significantly, with the ultimate goal of striking a deal between $30 million and $39 million.
This luxurious property, which was previously owned by the late Max Azria, a fashion mogul and founder of the BCBG brand, has 14 bedrooms and is located on three acres of prime Los Angeles real estate. It includes large gardens, a greenhouse, a guest house, an infinity pool with a sauna, an in-home theater, and a game room. Despite the property’s lavish amenities, it may prove difficult to secure.
While Lopez appears close to a deal, the current ownership structure complicates matters. The property was auctioned off earlier this year, with billionaire investor Ron Burkle making the winning bid of $30 million. However, Burkle is currently embroiled in a legal battle with Max Azria’s widow Lubov Azria over alleged breaches of contract in the sale.
The legal dispute has been going on since May, and it’s posing some challenges to Lopez’s potential purchase. J. Lo, who reportedly renewed her interest in the property in August, has visited it several times in recent weeks. She is currently in talks with both Berkley and Lubov Azria in hopes of resolving the issue and closing the sale.
Jennifer Lopez has some personal ties to the Azria Estate, which may have fueled her interest in purchasing the property. Not only did the mansion serve as a filming location for her movie Atlas, but Lopez also visited the estate while house hunting with Affleck in March of this year. Although the couple has now split, Lopez’s attraction to the luxurious property is undeniably strong.
Plus, the estate is located in an extremely popular neighborhood, sharing a property line with Sean “Diddy” Combs’ mansion, which was recently listed for $61 million. Other famous neighbors include designer Tom Ford, tech entrepreneur Sean Parker, and music executive Jimmy Iovine.
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