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A 30,000-square-foot home in a desirable Malibu neighborhood is one of the greatest architectural wonders in the nation, and Jay-Z and Beyoncé paid a king’s ransom for it.

According to real estate sources who spoke with TMZ, the couple spent $200 million for the property, shattering the previous record of $177 million to make it the most expensive home ever sold in the entire state of California. In addition, it’s the second most costly real estate transaction in the nation; the highest is $238 million for an apartment in New York City.

They actually got an unbelievable deal … the home was quietly listed for a whopping $295 million.

The house sits on an 8-acre bluff overlooking the Pacific Ocean in the Paradise Cove area … AKA Billionaires’ Row.

It’s also a work of architectural art, created by the renowned Japanese architect Tadao Ando, who is also responsible for the design of the Malibu home that Kanye West purchased.

William Bell, one of the world’s largest art collectors, built and owned the mansion. Bell spent nearly fifteen years constructing the all-concrete building.

This is the couple’s second known major real estate acquisition in the Los Angeles area; in 2017, they paid $88 million for a Bel-Air mansion and added millions more to the property to make it above $100 million.

Superstar realtor Kurt Rappaport represented the seller as well as the buyers. We asked for a comment from his office, but we haven’t heard back as of yet.