It’s been 100 days since Jennifer Lopez and Ben Affleck put their Los Angeles estate, Crestview Manor, up for sale for $68 million before filing for divorce.
Lopez, 55, and Affleck, 52, purchased the 12-bedroom, 24-bathroom property in May 2023 for $60.8 million and re-listed the opulent 38,000-square-foot abode earlier this year before their imminent separation.
They are asking for $68 million after overseeing a series of renovations on the 5.2-acre property.
Jason Oppenheim of Selling Sunset said real estate agent.com Monday that Lopez and Affleck need not worry about the slow start to the sale.
“It would have been surprising if the house sold in less than 100 days,” the co-founder of the Oppenheim Group told the outlet. “Most homes of this magnitude are on the market for six months and, in many cases, much longer.”
It’s been 100 days since Jennifer Lopez and Ben Affleck put their Los Angeles estate, Crestview Manor, up for sale for $68 million, ahead of their divorce filing.
Lopez, 55, and Affleck, 52, purchased the 12-bedroom, 24-bathroom property in May 2023 for $60.8 million and re-listed the opulent 38,000-square-foot abode earlier this year before their imminent separation.
The outlet pointed out a number of key factors why the 100-day period should not alarm the first couple, noting that the pool of potential buyers is much smaller due to the huge financial expenses associated with the sale.
People who do have the funds also tend to look at multiple properties and wait for a possible reduction in price, Realtor.com noted.
Also taken into account is the estimated $283,666 in monthly expenses the homeowner faces in taxes, security costs and homeowners association fees.
The home, which also features amenities like a 5,000-square-foot penthouse, a two-bedroom guardhouse, a caretaker’s house, and a 12-car garage, also competes with other high-end abodes in the metro area. from Los Angeles.
The outlet noted that other opulent mansions currently on the market include the Trousdale Estates home, currently owned by sports team mogul James Jannard, which has been on the market about 25 days longer than Lopez and Affleck’s.
Also for sale, for a comparable $65 million, is the Beverly Hills home called The Peak, which has been on the market for more than two years.
Another home in Beverly Hills, lowered to $56.9 million in July from a previous listing of $64 million, has seven bedrooms and 15 bathrooms in 17,005 square feet.
The outlet noted that a common tactic in the industry is to take homes off the market intermittently and then put them back on the market, to reduce the total length of time the home has been for sale in advertising materials.
Selling Sunset’s Jason Oppenheim, photographed Oct. 10 in Los Angeles, told Realtor.com that Lopez and Affleck don’t need to worry about the slow start to the sale, saying, “Most homes of this magnitude are in the market for six months. and in many cases much longer’
Lopez’s August 20, 2024 divorce filing came after months of speculation about the relationship between the A-list singer and actress and the actor and director. Photographed in January in Los Angeles.
Oppenheim said the exes should expect to take a financial hit when the house is sold.
“They’re likely to sell the house for $58 to $60 million,” the Netflix personality said, “so they could lose several million dollars on the sale.”
Oppenheim said the property’s specific location creates another complicating factor for Lopez and Affleck as they look to move forward.
He said the geographic location of the house ‘is located in the Beverly Hills Post Office area, which is technically in the city of Los Angeles’ and ‘not in the independent city of Beverly Hills,’ so they ‘will have to pay for a mansion’. Tax of more than 3 million dollars.
He added: “They could lose over five million additional dollars after commissions, taxes, etc.”
Oppenheim said the costly tax has had “a devastating impact on luxury sales in Los Angeles, with sales of more than $5 million falling more than 60 percent since the tax went into effect in 2023.”
As a result, Oppenheim said, “many sellers have decided not to sell, and many buyers have chosen to buy in Beverly Hills, Newport Beach, Malibu or have simply decided to leave California altogether.”
Lopez’s August 20, 2024 divorce filing came after months of speculation about the relationship between the A-list singer and actress and the actor and director.
Affleck was spotted in Brentwood, California, on June 12.
Lopez was the center of attention while walking in Los Angeles on Sunday.
Lopez filed the papers on the second anniversary of their nuptials at Affleck’s estate outside Savannah, Georgia, on August 20, 2022.
Lopez and Affleck made headlines in 2021 when they rekindled their romance, nearly 17 years after calling off their original engagement and postponing their September 2003 wedding.
In April 2021, reports emerged that the musician and Oscar-winning director were reconnecting after Lopez’s breakup with former MLB star Alex Rodriguez.
The couple confirmed their relationship on Instagram in July and made their red carpet return at the 2021 Venice Film Festival, subsequently exchanging vows at the Little White Chapel in Las Vegas on July 16, 2022.
“In the end it was the best possible wedding we could have imagined,” López said in her JLo newsletter on July 17, 2022. “One that we dreamed of a long time ago and one that became very real (in the eyes of the state, Las Vegas, a pink convertible and each other) finally, a long, long time.
The couple exchanged vows again at Affleck’s estate outside Savannah, Georgia, on August 20, 2022, two years to the day before Lopez filed for divorce.
López is the mother of 16-year-old twins, Max and Emme, from her marriage to Marc Anthony, which lasted from 2004 to 2014.
Affleck, who was married to Jennifer Garner from 2005 to 2018, has three children with her: Violet, 18, Fin, 15, and Samuel, 12.
