Major update on Jennifer Lopez and Ben Affleck’s $101m mansion
![Jaw-dropping tax bill on JLo, Ben’s $100m mansion. Picture: Realtor, Matt Winkelmeyer/Getty Images for Netflix](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Jaw-dropping tax bill on JLo, Ben’s $100m mansion. Picture: Realtor, Matt Winkelmeyer/Getty Images for Netflix
Jennifer Lopez and Ben Affleck have finalised their divorce and reached an agreement about what they will do with their $US68 million ($A101 million) megamansion, which has been on the market for nearly six months.
Lopez, 55, and Affleck, 52, split in August after just two years of marriage and just one year after they purchased their sprawling marital home in Beverly Hills for the sky-high price of $US60.8 million ($A90 million).
According to court documents obtained by Us Weekly, the former couple have reached an agreement to divide their many assets — including their enormous property.
Both Lopez and Affleck will “keep all of their personal belongings and earnings from the date of their separation as well as half their bank accounts,” the outlet reported.
The pair will divide their Los Angeles home equally, according to Realtor.
It remains to be seen whether that arrangement will net either of them any profits, given that it has yet to find a buyer.
The “Ain’t It Funny” singer will also retain her clothes, jewellery, “miscellaneous personal effects in her possession, custody or control,” and all assets that she owns “individually or by entities of which she is the sole owner, member or shareholder,” according to the agreement.
Affleck will keep control of his interests in his production company, Artists Equity, which he co-founded with close friend Matt Damon in 2022.
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Ben Affleck and Jennifer Lopez have finalised their divorce. Picture: Kevin Mazur/Getty Images for The Recording Academy
The pair have reached an agreement about what they will do with their $101 million mansion. Picture: Realtor
News of the divorce terms came just hours after Lopez was seen visiting her former spouse at his Los Angeles bachelor pad, which he purchased for $US20.5 million ($A31.3 million) in July.
Affleck is understood to have been living in the property ever since, while his ex-wife revealed in December that she has been residing in their former marital home.
The singer shared a series of images of herself in the property on her Instagram account, including photos of herself whipping up a snack in the opulent kitchen.
It remains to be seen whether Lopez is hunting for a new abode. In September, rumours emerged that she was “in negotiations” to buy an opulent $US55 million ($A81 million) Beverly Hills estate. She has yet to confirm or deny her interest in that property.
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According to their divorce agreement, Lopez and Affleck will equally divide the property, which they purchased in May 2023. Picture: Realtor
It remains to be seen whether the couple will achieve their sky-high asking price. Picture: Realtor.com
As for when she and Affleck might expect to see a sale of their lavish property, Jason Oppenheim, celebrity real estate agent and co-founder of The Oppenheim Group, told Realtor in October that it would have been “surprising” for the mansion to have sold in less than six months.
“Most homes of this magnitude are on the market for six months, and in many cases significantly longer,” he said.
A property of such high value, with its separate guest penthouse, caretaker house, two-bedroom guardhouse, 12-car garage, and parking for 80 vehicles, has a considerably smaller pool of potential buyers, he added.
Such a grand property comes with monthly costs such as taxes, security, mortgage payments, and homeowners association fees. According to Realtor.com estimates, those total around US283,666 ($A440,543) per month.
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Celebrity real estate agent Jason Oppenheim predicted that the home will sell for between ($A88 million to $A91 million). Picture: Realtor.com
In December, Lopez revealed that she was still living in the home, sharing several images of herself posing inside it. Picture: Instagram/Jennifer Lopez
Unfortunately for J.Lo and Affleck, Oppenheim predicted that their home would likely not achieve the asking price, and instead might end up fetching somewhere between $US58 million ($A88 million) and $US60 million ($A91 million).
But there’s more bad news for Affleck and Lopez. 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 explained.
“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.”
Parts of this story first appeared in Realtor and were republished with permission.
