Just over one year after the duo splashed out on the pricey pad, which they then spent even more money renovating, the couple officially split. The expansive 5.2-acre estate went back on the market, this time with an even higher price tag of $68 million.
In the months since, much attention has been paid to the megamansion—but all that public fascination has done little to attract a buyer. It has now sat on the market for 100 days.
With their divorce paperwork officially filed (by J. Lo, on their one-year anniversary, no less), the Hollywood superstars both appear to have moved on from the property.
Affleck, 52, is understood to have snapped up a $20.5 million Pacific Palisades bachelor pad in July, while Lopez, 55, was said to have been “in negotiations to buy” an opulent $55 million Beverly Hills estate in September.
But what of the 12-bedroom, 24-bathroom, 38,000-square-foot home they left behind? And should they be worried about its ongoing failure to sell?
Ben Affleck and Jennifer Lopez’s $68 million marital home has been stuck on the market for 100 days.
(MICHAEL TRAN/AFP via Getty Images)
The mansion has a soaring double-story great room with elaborate skylights.
(Realtor.com)
It also features an entire primary wing with two fireplaces.
(Realtor.com)
Another highlight is the sports pavilion with an elegant lounge.
(Realtor.com)
To stress or not to stress
It’s no big issue, according to Jason Oppenheim, co-founder of The Oppenheim Group and star of the hit Netflix series “Selling Sunset” and “Selling the OC.”
It would have been almost impossible for the home to have found a buyer in this time frame, says Oppenheim.
“It would have been surprising for the house to sell in less than 100 days. Most homes of this magnitude are on the market for six months, and in many cases significantly longer,” he adds.
A property of this value, with its separate 5,000-square-foot guest penthouse, caretaker house, two-bedroom guardhouse, 12-car garage, and parking for 80 vehicles, has a considerably lower buyer pool. The number of people who have the funds for a $50 million-plus home is not that large, as you can imagine.
Also, those shopping in that price range can afford to be picky, and usually have time to shop around for just the right home, or wait for a price reduction—it’s all part of the game.
But there’s hope
L.A.’s poshest parts are among the only places in the world where there would be comps for a $68 million dwelling, and J. Lo and Ben’s compares to other similar properties very favorably.
There is, in fact, one other home in the area listed at the same price, and it’s been on the market for about 125 days: Oakley founder James Jannard‘s brutalist-style cement fortress in Trousdale Estates.
While it’s cool in a James Bond villain’s lair sort of way, it has only five bedrooms and 10 baths in 18,000 square feet of living space. In other words, the Affleck-Lopez estate puts it to shame.
Then there’s “The Peak” in Beverly Hills, priced at $65 million. While the listing claims it has the “finest view” in the city and comes with a pine forest, grassy meadow, and championship tennis court, it features only four bedrooms and six baths in 4,351 square feet of space. And it’s been on the market for a whopping 754 days!
It pales, too, in comparison to the ex-couple’s spread.
James Jannard’s brutalist-styled cement fortress in Trousdale Estates
(Realtor.com)
This seven-bedroom, 15-bath, 17,005-square-foot megamansion with a tennis court in Beverly Hills, CA, was originally priced at $64 million in February. It was reduced to $56.9 million in July.
(Realtor.com)
(Realtor.com)
The next closest home in price is a seven-bedroom, 15-bath, 17,005-square-foot home with a tennis court in Beverly Hills that was originally priced at $64 million in February, and was reduced to $56.9 million in July.
Since a home’s perceived value can decrease the longer it stays on the market, the owners have cleverly listed it on and off since February, so the current listing can honestly report that it’s been on the market for 31 days.
Now, if size matters (and with the extremely wealthy, it usually does), there’s only one other house on the market with 12 bedrooms—but it has only 17 baths compared with Ben and J. Lo’s 24. And it sprawls over 2.08 acres compared with the former couple’s 5.2-acre lot. But you’ll have to pay $119,950,000 for that one, reduced from $139 million over a year ago.
As you can see, homes in this stratosphere don’t just fly off the shelf.
Win or lose?
But they do move eventually. When this one does, Oppenheim estimates they’ll lose several million.
“It’s likely they will sell the house in the $58 million to $60 million range, thus they could lose several million dollars on the sale,” he predicts.
But there’s more bad news for Affleck and Jenny From the Block. There’s an extra expense associated with the estate’s lofty location.
“The house is located in the Beverly Hills Post Office area, which is technically in the city of Los Angeles (not the independent city of Beverly Hills), so the mansion tax applies,” Oppenheim explains.
“Therefore, they will have to pay a mansion tax of more than $3 million. So they could lose more than an additional $5 million after commissions, taxes, etc.”
Affleck and Lopez are not alone in being affected by the mansion tax.
“It has had a devastating impact on luxury sales in Los Angeles, with sales over $5 million down over 60% since the tax took effect in 2023,” Oppenheim notes. “As many sellers have decided not to sell, and many buyers choosing to purchase in Beverly Hills, Newport Beach, Malibu, or simply deciding to leave California altogether.”
Affleck’s splurge on L.A.’s west side
(Realtor.com)
Lopez appears to still own a Star Island compound in Florida.
(Realtor.com)
They both have options
But shed no tears for these two A-listers. They’ve each been through a good deal of relationship turmoil and know how to move on.
Affleck made headlines in July when he was reported to have spent $20.5 million on a lavish Los Angeles lair : a five-bedroom mansion sitting on two-thirds of an acre measuring 6,247 square feet.
It features an open floor plan with wood-beamed ceilings and garden views. The primary suite has a fireplace and access to the gardens. Upstairs, there’s an office with a fireplace, and a two-story guesthouse is included.
Meanwhile, Lopez still has the Miami Beach spread she picked up in 2020 for $32.5 million on Star Island. The 10-bedroom, 14,700-square-foot mansion features Biscayne Bay and Miami skyline views, a pool with a spa, plus a covered bar and private dock.