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Ben Affleck, Jennifer Lopez to lose at least $25M on ‘white elephant’ home: Source
By Paula Froelich,
9 hours ago
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While currently idling on the market for $68 million , my West Coast real estate guru says the Bennifer 2.0 manse is not selling — because it’s horrifically overpriced, way too big and in an undesirable location.
The home, a 38,000-square-foot monstrosity, has 12 bedrooms, a mystifying 24 bathrooms (two for each bedroom!), sits on five acres, has a 12-car garage and a state-of-the-art gym, boxing ring and pickleball court.
“That house is actually worth between $40 and $50 million,” my insider said, explaining, “It’s in a terrible location. Wallingford Estates is a gated community with no guard. Most homes in the area are from the 1970s and are worth between $5-10 million. This is just a huge white elephant. It’s garish, too big and dated with amenities that are just silly and not necessary (like an indoor sports complex).”
PARIS, FRANCE – JULY 23: Violet Affleck, Ben Affleck and Jennifer Lopez are seen leaving their hotel on July 23, 2022 in Paris, France. (Photo by Pierre Suu/GC Images)
Ben Affleck and Jennifer Lopez are seen out and about on March 30, 2024 in New York, New York. (Photo by MEGA/GC Images)
Ben Affleck is seen on August 23, 2024 in Los Angeles, California. (Photo by Bellocqimages/Bauer-Griffin/GC Images)
LOS ANGELES, CA – JUNE 07: Ben Affleck is seen on June 07, 2024 in Los Angeles, California. (Photo by Bellocqimages/Bauer-Griffin/GC Images)
Ben Affleck is seen on June 11, 2024 in Los Angeles, California. (Photo by Bellocqimages/Bauer-Griffin/GC Images)
NEW YORK, NEW YORK – MARCH 29: Ben Affleck and Jennifer Lopez are seen on March 29, 2024 in New York City. (Photo by Gotham/GC Images)
NEW YORK, NY – MARCH 30: Ben Affleck and Jennifer Lopez are seen leaving Sadelle’s restaurant on March 30, 2024 in New York, New York. (Photo by MEGA/GC Images)
LOS ANGELES, CA – NOVEMBER 19: Jennifer Garner and Ben Affleck are seen on November 19, 2016 in Los Angeles, California. (Photo by BG004/Bauer-Griffin/GC Images)
Wallingford Estates is technically in Beverly Hills but “on the back side” of the posh area.
Ben Affleck, Jennifer Lopez’s ‘house is ugly’
Moreover, the real estate investor said: “The house is ugly. It was built in 2001 by a mediocre developer with just bad taste in architecture … it’s a mish-mosh of styles with a faux French roof. When it was built, it sat on the market for years and was listed at $100 million, so maybe (Affleck and Lopez) thought they got a deal for buying it at $61 million. But remember, they also put millions into renovating it to their tastes.”
A potential buyer will not only have to fork over tens of millions to buy the house — but have plenty of cash to maintain the chimeric mansion.
“The property taxes alone on that house are $762,000 a year — and another $750,000 to insure it and maintain it. So, whoever buys it, they’re out at least $1.5 million per year just to keep the lights on.”
Meanwhile, after it eventually sells (“Someone will buy it – they always do. It just needs to be priced correctly and will take some time”), Affleck and Lopez still have to pay a pretty sum.
PARIS, FRANCE – JULY 26: Jennifer Lopez and Ben Affleck are seen at the Louvre Museum on July 26, 2022 in Paris, France. (Photo by Pierre Suu/GC Images)
PREMIOS BILLBOARD DE LA MÚSICA LATINA 2017 — Pictured: Jennifer Lopez performs on stage at the Watsco Center in the University of Miami, Coral Gables, Florida on April 27, 2017 — (Photo by: John Parra/Telemundo/NBCU Photo Bank/NBCUniversal via Getty Images)
LOS ANGELES, CALIFORNIA – MARCH 16: Jennifer Lopez, Ben Affleck and his son Samuel Garner Affleck attend a basketball game between the Los Angeles Lakers and Golden State Warriors at Crypto.com Arena on March 16, 2024 in Los Angeles, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Kevork Djansezian/Getty Images)
US actress Jennifer Lopez (R) and US actor Ben Affleck attend Amazon’s “This is Me… Now: A Love Story” premiere at the Dolby theatre in Hollywood, California, February 13, 2024. (Photo by Robyn BECK / AFP) (Photo by ROBYN BECK/AFP via Getty Images)
LOS ANGELES, CALIFORNIA – FEBRUARY 05: Jennifer Lopez and Ben Affleck seen during the 65th GRAMMY Awards at Crypto.com Arena on February 05, 2023 in Los Angeles, California. (Photo by John Shearer/Getty Images for The Recording Academy)
Ben Affleck, Jennifer Lopez: Mansion tax
The former couple will lose at least 10% of the sale price to the mansion tax — 5% of large home sales goes directly to the state of California – and realtor fees that hover between 5 and 6% (meaning around $10 million is lost – so if the couple sells for $50 million, they only get to split $40 million).
“It’s just a big, flawed diamond,” my source said. “People with that kind of money would rather spend $10 million on a (smaller) perfect diamond, rather than dropping $5 million on a huge diamond with visible flaws.”
This photo provided by Dunkin’ shows Ben Affleck in a still from the company’s 2024 Super Bowl NFL football game ad campaign. (Brigette Buckner/Dunkin’ via AP)
Lopez has yet to find another home but wants to steer clear of the couple’s former love nest as “ there are too many memories ” and is currently searching for her own LA home.
Reps for Affleck and Lopez didn’t return emails.
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