Jennifer Lopez and Ben Affleck’s $68 million Beverly Hills estate has remained unsold for more than 100 days since it went on the market. Despite the long listing period, real estate experts like Jason Oppenheim of The Oppenheim Group say it’s not uncommon for ultra-luxury properties to take several months, or even longer, to find a buyer.
The 38,000-square-foot mansion, which the couple bought for $60.8 million and renovated, includes 12 bedrooms, a loft for guests, and parking for 80 vehicles. However, with monthly carrying costs estimated at $283,666, maintaining the property has proven costly.
Oppenheim expects the property to sell for between $58 million and $60 million, which could result in a loss of millions of dollars, especially when taking into account Los Angeles’ mansion tax. Despite this, listing agent Santiago Arana remains confident that the property will sell for close to the asking price before the end of the year.