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You’d think that if you pay $88 million for a place, it would be absolutely turn-key—simply bring a toothbrush, right? But the ways of the rich and famous are different from the ways of the rest of the world, especially in the case of megastars JAY Z and Beyonce.
The A-list couple and their three children have settled down in a $400,000-a-month Malibu enclave while they make a few improvements on the brand-new Bel Air, CA, mansion they bought last summer. Meanwhile, a lawsuit between the original developers and the company that moved the earth to make it so has been unearthed.
TMZ reports that a company called Qwest Engineering has filed suit against upscale real estate developer Dean McKillen and Cuesta Estate, claiming it was hired to excavate space underneath the house, which included room for a potential basement. Qwest claims it did the work, but was never paid.
Representatives of Qwest say the labor involved excavating a 2,000-square-foot, 12-foot-high space and removing 888 cubic yards of dirt over a period of five to six weeks.
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Qwest representatives claimed McKillen and Cuesta Estate stiffed them their agreed-upon fee, which amounted to $205,337. And because the developers have been snippy about it, Qwest is asking for an additional $1.8 million for punitive damages.
When TMZ reached out McKillen, he said the lawsuit was based on false information, and that they do not owe Qwest that money.
Meanwhile, Bey and Jay are eagerly awaiting the completion of that darn basement before they move in. At least that’s what the $750,000 permit they pulled to add a living area under a couple of the pools (there are four in total) would indicate. They also pulled a $30,000 permit to add a backup generator.
With all the improvements in the offing, its no wonder they were able to swing an $88 million deal for a home that was rumored to be on the market for $135 million.
The ultraluxe amenities include a wellness center, bulletproof windows, city-to-ocean views, a full-size basketball court, staff quarters, a 15-car garage, and recording studio. The megamansion is far from a lemon, but the celeb couple seem intent on making sparkling lemonade out of it.
The post JAY Z and Beyonce’s New $88M Home Reportedly Embroiled in Legal Problems appeared first on Real Estate News & Insights | realtor.com®.
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