It looks like Jennifer Lopez and Ben Affleck will continue to have one giant thing holding them together: a mansion. The divorced couple has been trying to sell the $60M marital home they purchased in May 2023 for nearly a year, and even after an $8M price cut, they were unsuccessful. Now, they’ve taken it off the market altogether.
Per PEOPLE, legal documents indicate that the exes will divide the final sale price of the house between them, but the exact amounts and percentages each receives will remain confidential. Thankfully for them, they’ll both be fine without the money. It’s not just sitting there either – sources told TMZ that the “Jenny from the Block” singer is living there while she remodels the 2.5-acre compound she purchased in February.
© GothamWhile J.Lo is making use of the home, it has simply become hard to sell. A source told PEOPLE, “While they’ve been hoping to sell the property, they’ve also been hesitant to take a big loss.”
Plus, it’s not exactly cheap. They initially listed it for $68 million, then dropped it by $8.1 million to $59.95 million in May. “They lowered the price to get more interest, and when this didn’t happen, they were advised to take it off the market,” PEOPLE’s insider continued, noting, “It was a business decision that they made together.”
The price cut came after it was reported in April that Affleck, motivated to sell, wanted to lower the price, but Lopez was “dragging her feet.” An insider later told Daily Mail, the price cut was “nothing to Ben.” “He really just wants this to be sold so that he can cut the final cord that keeps him and Jennifer intertwined,” they said.
Affleck had some professionals on his side, too. Multiple realtors told TMZ the price was too high and needed to come down at least 15% if they hoped to sell, putting it around $51,722,500.
Considering the couple probably put a lot of money into renovations, they’d be taking a multimillion-dollar loss. It’s also subject to Los Angeles’s mansion tax, meaning even more money is lost.
© MEGABut another realtor told TMZ they overpaid to begin with, and people with that kind of money aren’t really looking for real estate right now.
Plus, the mansion comes with major ongoing costs, like insurance. Since the LA wildfires in January, fire insurance policies have skyrocketed, with TMZ reporting it would cost a new buyer an estimated $500,000 a year.
While the price is high, the estate boasts 12 bedrooms, 24 bathrooms, an indoor sports complex with a fully equipped gym, boxing ring, sports lounge bar, sprawling infinity pool, and a full-service spa.
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