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    Celebrity Real Estate

    Say what? Beyonce and Jay-Z lose bidding war for crazy Beverly Hills mansion to a video game star

    Elizabeth Rhodes
    Dec 23, 2014 | 1:29 pm

    Houston's own hometown favorite Beyonce and her superstar rapper husband Jay-Z have been house hunting in Los Angeles, and much to their chagrin, they've lost a bidding war on the most expensive single-family home in Beverly Hills history.

    The mansion — located at 1181 North Hillcrest — is somewhat of a celebrity in its own right, as it made real estate waves when it hit the market listed at $85 million. With eight bedrooms and 15 bathrooms — each outfitted with fancy "Toto Neorest toilets at a price of $5,600 each" — the home is opulent to say the least.

    Completed in September 2014, the 23,000-square-foot mansion features "a candy room with an M&M tower; a car showroom; bars fully decked with high-end vodka and/or tequila; a dramatic cliff-edge pool that you reach by stepping out through a 54-foot glass door; a home theater; a lavishly stocked wine cellar; a gym; and an 18-foot onyx dining room table embellished with Roberto Cavalli place settings valued at $3,700 each," according to SFGate.

    The mansion is somewhat of a celebrity in its own right, as it made real estate waves when it hit the market listed at $85 million.

    While this might sound like the perfect home for a couple as used to a lavish lifestyle as Beyonce and Jay-Z — rumored to have submitted a $70 million bid earlier this month — they actually ended up losing the bidding war for the Beverly Hills mansion.

    Who won?

    Markus Persson, creator of the hugely successful video game Minecraft. According to a press release from the John Aaroe Group, which represented Persson in the deal, the $70 million sale of the home to the Minecraft maven closed in a very speedy six days.

    Persson not only purchased the home itself but also all the furnishings, including "giant grenade art, the replica of James Dean’s motorcycle" and three "high-definition 90-inch television screens" purported to teleport "panoramic views of Los Angeles from the roof into the downstairs lounge."

    Beyonce and Jay-Z were outbid on a $70 million Beverly Hills mansion at 1181 North Hillcrest.

    1181 North Hillcrest Jay Z Beyonce 4
    1181hillcrest.com
    Beyonce and Jay-Z were outbid on a $70 million Beverly Hills mansion at 1181 North Hillcrest.
    unspecified
    news/real-estate

    REAL ESTATE NEWS

    More Houston homeowners are becoming 'accidental landlords,' study finds

    Brandon Watson
    Mar 18, 2026 | 10:30 am
    For Lease Real Estate Sign Hangs in Front Yard of House
    Getty Images
    An increasing number of San Antonio homeowners are bcoming "accidental landlords"

    Houston homeowners unable to sell their properties are increasingly becoming “accidental landlords,” according to Zillow. The real estate marketplace’s newest analysis says that 4.2 percent of its local for-sale listings recently converted to rentals, making the Bayou City the second-worst U.S. city for the market trend.

    Only Denver (4.9 percent) ranks higher, with Austin (4.1 percent) and San Antonio (3.9 percent) not far behind. Seven of the top 10 metros are in Texas or Florida.

    Zillow senior economist Kara Ng says today's dynamic is driven by choice rather than panic. Homeowners aren't being forced to sell; they're simply unwilling to accept what the market will actually pay.

    "As the market continues to rebalance, sellers are facing a different reality than they did a few years ago," Ng said in a statement. "Bargaining power is tilting toward buyers, and homes are taking longer to sell, making renting out a property one way to buy time rather than compete aggressively on price. After all, today's sellers are rarely forced to sell, and it appears they are often unwilling to budge off of what their heart says their home is worth."

    Nationally, the trend is nearing a record high. 2.3 percent of all Zillow rental listings were recently for-sale properties, second only to November 2022, when mortgage rates had doubled in a single year, and sellers were scrambling. That spike was shock-driven, but now stubbornness is likely fueling the shift.

    Single-family homes make up the largest share of accidental landlord properties, but condos are seeing the fastest rise. Metros with the hottest buyer competition, including Boston, New York City, and Providence, Rhode Island, have the lowest accidental landlord rates.

    For both local buyers and sellers, Goldilocks thinking is increasingly the norm. Sellers, especially those who bought during the COVID-19 boom, are holding their asking price firm to avoid taking a loss. Buyers, for their part, are refusing to compromise on concessions and repairs.

    Meanwhile, the city's rental market keeps getting larger. In 2025, rental listings website Point2Homes placed the Houston area among the top 10 U.S. metros building the most new homes for rent.

    home marketrentinghome ownershipzillowrankingsreal estate
    news/real-estate
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