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Are Beyoncé And Jay Z Finally Settling Down In L.A. On This $120 Million Pile Of Dirt?

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Mazel tov to the young couple! Beyoncé and Jay Z have put down an offer on what may become their first Los Angeles home (even if this is the third time in as many years they've made an offer).

According to The Real Deal, the Carters have offered $120 million for an eight-bed, 11-bath property in Bel Air's East Gate community. adds that the home sits on two acres, has four pools, a basketball court, recording studio, 15-car garage, and staff quarters.

"This is the best of the best when it comes to new, modern estates," Josh Altman of Bravo's Million Dollar Listings Los Angeles said of the 30,000-square foot estate at 454 Cuesta Way.

“It’s got beautiful scale, beautiful volume,” Jeff Hyland, of Hilton & Hyland, who listed the property, told The Real Deal. He adds that the home's price reflects the strength of L.A.'s luxury home market, citing Daren Metropoulos' recent $100 million purchase of the Playboy Mansion (the first nine-digit real estate buy in the city's history), followed quickly by Tom Gores' nine-digit purchase on Carolwood Drive. “From now on, every time there’s a major high-end sale, it will break the existing record. The bar keeps getting raised," Hyland continued.

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Jay Z and Beyoncé moved to Los Angeles in 2014, reportedly because Gwyneth Paltrow convinced Jay and Beyoncé of sending their daughter, Blue Ivy, to a certain $19,000-a-year private school. The family has been renting a $135,000-a-month, seven-bedroom, eight-and-a-half bath estate in Holmby Hills ever since.

Might the third time be a charm for the Carters? As Hyland speculates, “I think at some point, Beyoncé turned to Jay Z and said, ‘Shawn Carter, let’s just do this. Let’s settle down.’”