Beaten out on 'most extreme home,' Jay-Z and Beyonce re-rent price-cut spec mansion, reports say
Welcome back to the neighborhood, Jay and Bey.
Jay-Z and his wife, Beyonce, have just signed a one-year lease on the mansion they rented last summer in Los Angeles' Holmby Hills, according to TMZ.
That's after they were reportedly beaten out in a bidding war for "L.A.'s most extreme home" by Minecraft founder Markus "Notch" Persson.
They've been house-hunting in the area, reports suggest, while living out of a local hotel — but TMZ says they were sick of hotel life and decided to settle for a year in the mansion.
They're supposedly paying a mere $150,000 a month, down from the $200,000 or so they paid for about a month last summer.
The mansion is a spec house that was built by the same developer behind Milan's fashion district. Completed just a year ago, it was originally listed for sale in April at $48 million. But after three price cuts, it's now asking $35.5 million.
It measures about 16,000 square feet, with seven bedrooms, nine baths and a 75-foot "central gallery" touted as "ideal for an art collector," on about 1.3 acres.
Related on Yahoo Homes:
• Jennifer Lopez moves out as Kanye West and Kim Kardashian move in
• Channing Tatum buys Princess Leia's old house, next door to Harry Styles and across the street from Real Housewife Lisa Vanderpump
• Secret's out: Scarlett Johansson buys radically transformed L.A. house for her new family
Related video:
This Equinox fitness video was recorded at the property:
(Editor's note: An earlier version of this post said the house had gone off the market. Although Zillow no longer shows an active listing, other websites do.)