Jennifer Lopez and Alex Rodriguez sell their beachfront home in Malibu for $6.7 million – Daily Mail

Jennifer Lopez and fiancé Alex Rodriguez have offloaded their Malibu beach house for $6,775,000, just a year after they purchased it. 

While they made a small profit of approximately $175,000, they were certainly hoping for more. They were initially shooting for a $1million pay day when they first listed the home for $7.99million in July. 

The couple bought the property in February 2019 from Entourage star Jeremy Piven for $6.6million.  

The pair reportedly ‘planned to live in the house, but they had a change of heart and decided to sell,’ according to TMZ. 

To help with renovations on the three-level, five-bedroom home, the power couple enlisted Joanna Gaines of HGTV fame for the job.   

The 51-year-old pop diva invited Joanna over for a walk through shortly after snagging the spot and were pictured on the beach together in March 2019. 

‘Jennifer wanted to walk the space with Joanna in person,’ an insider told People at the time. ‘They’re both extremely busy, but it’s hard to take on any kind of home project without actually seeing the space.

According to the source, the meeting was ‘really just an opportunity for them to walk the space together and for Joanna to hear Jennifer’s vision for the space.’ the meeting was ‘really just an opportunity for them to walk the space together and for Joanna to hear Jennifer’s vision for the space.’ 

The 4,400 square foot house is right on the beach, staring out into the Pacific Ocean with an outdoor deck that is perfect for watching sunsets. It is part of a luxurious stretch of sand known as Jane Seymour Beach because the actress lived in the area.

The home has a classic charm, built in 1949. But it still comes will modern amenities, featuring a steam sauna, spacious closets and a lush front courtyard. 

It was listed by Carl Gambino of Compass. 

The Hustlers actress and MLB star had an easier time offloading the property than the previous owner, who listed the house for a hefty $10.495million in June 2017, before lowering the price multiple times during protracted attempts to make a sale. 

The Mr. Selfridge star originally purchased the property for $3.5 million in 2004 and is said to have invested significantly in his own renovations. 

J. Lo still has a robust portfolio of real estate after selling the property.

The Latina star owns a multimillion dollar New York penthouse, a mansion in California’s Hidden Hills and a 13,932 square-foot estate in exclusive Los Angeles suburb Bel Air, purchased for a reported $40million in 2017.

She also has a $10 million mansion in the Hamptons and a compound in Coral Gables, Florida.

The singer/dancer/actress and A-Rod are still going strong despite having to indefinitely postpone their dreams of a destination Italian wedding, due to the ongoing coronavirus pandemic. 

Last month, it was reported that the pair were ‘so disappointed’ after learning they were out of the running to buy the New York Mets baseball team after a six-month process. 

Sharing to her social media Jlo wrote, ‘Alex and I are so disappointed! We worked so hard the past 6 months with the dream of becoming the first minority couple and the first woman owner to buy her father’s favorite Major League Baseball team with her own hard earned money. We still haven’t given up!! #NY4ever’

The couple had planned to invest $300 million of their own money into the offer but lost after billionaire Steve Cohen was chosen by The Mets after he put up more money.

Though suffering a devastating blow in this situation, the pair have many reasons to smile.

The couple who have a combined net worth of over $750M recently purchased a massive estate on Miami’s coveted Star Island, where they dropped a cool $40M for a 10-bedroom, 12-bathroom home that sits on 40,0000 square feet.

The blended family of six will no doubt have more than enough space in a home that size.