Jay-Z and Beyonce headline L.A.'s most expensive home sales of 2017

"Of the 40-plus home sales of $20 million or more, there were seven deals north of $40 million and a pair in the high $80-million range, according to PropertyShark. Here's a closer look at L.A. County's biggest sales of the year."

"The modern showplace sits behind walls and gates and comprises six structures with about 30,000 square feet of living space. Features of the monolithic-vibe compound include spa and wellness facilities, a media room and four outdoor swimming pools. The windows and pocketing glass walls are bulletproof."

"Entertainment mogul David Geffen set a Malibu record in May with the sale of his oceanfront compound on Pacific Coast Highway. The off-market transaction is the most expensive sale historically in the city, records show, besting the previous high-water mark set four years ago at $74.5 million."

Los Angeles's luxury housing market demonstrated robust activity in 2017, though not matching 2016's exceptional performance. Beverly Hills and Santa Monica maintained median prices among the nation's highest, while coastal areas like Malibu and Manhattan Beach achieved new price records. Over 40 properties sold for $20 million or more, with seven exceeding $40 million and two reaching the high $80-million range. Notable transactions included Jay-Z and Beyoncé's $88 million Bel-Air purchase of a newly constructed compound featuring 30,000 square feet of living space, wellness facilities, and security features. David Geffen's $85 million Malibu oceanfront sale set a city record, surpassing the previous high of $74.5 million from four years prior.

Read at Los Angeles Times