It’s been 100 days since Jennifer Lopez and Ben Affleck listed their Los Angeles estate, Crestview Manor, on the market for $68 million, ahead of their divorce filing.
Lopez, 55, and Affleck, 52, purchased the 12-bedroom, 24-bathroom estate in May of 2023 for $60.8 million and re-listed the opulent 38,000 sq. foot abode earlier this year ahead of their imminent split.
They’re asking for $68 million after overseeing a series of renovations on the 5.2-acre property.
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Selling Sunset‘s Jason Oppenheim told Realtor.com Monday that Lopez and Affleck needn’t worry about the sluggish start to the sale.
‘It would have been surprising for the house to sell in less than 100 days,’ The Oppenheim Group co-founder told the outlet. ‘Most homes of this magnitude are on the market for six months, and in many cases significantly longer.’
It’s been 100 days since Jennifer Lopez and Ben Affleck listed their Los Angeles estate, Crestview Manor, on the market for $68 million, ahead of their divorce filing
Lopez, 55, and Affleck, 52, purchased the 12-bedroom, 24-bathroom estate in May of 2023 for $60.8 million and re-listed the opulent 38,000 sq. foot abode earlier this year ahead of their imminent split
The outlet noted a number of key factors in why the 100-day period should not alarm the former pair, noting that the pool of potential buyers is much smaller due to the massive financial expenses associated with the sale.
People who do have the funds also tend to look at multiple properties and wait out a potential reduction in price, Realtor.com noted.
Also factoring in 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 such as a 5,000 sq. foot penthouse, guardhouse with tow bedrooms, caretaker home and garage that fits 12 cars – is also in competition with other high-end abodes in the greater Los Angeles area.
The outlet noted that other opulent mansions currently on the market include the Trousdale Estates home currently owned by sports equipment mogul James Jannard, which has been on the market about 25 days longer than Lopez and Affleck’s.
Also on 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, slashed to $56.9 million in July from a previous $64 million listing, has seven bedrooms and 15 bathrooms over 17,005 sq. feet.
The outlet noted that a common tactic in the industry is to intermittently take homes off the market, then put them back on, to reduce the overall span of time the home has been for sale in advertising materials.
Selling Sunset ‘s Jason Oppenheim, pictured October 10 in LA, told Realtor.com that the Lopez and Affleck needn’t worry about the sluggish start to the sale, saying, ‘Most homes of this magnitude are on the market for six months, and in many cases significantly longer’
Lopez’s August 20, 2024 divorce filing came after months of speculation swirling around the relationship between the A-list singer-actress and actor-director. Pictured in January in LA
Oppenheim said that the exes should expect to take a financial hit when the home does sell.
‘It’s likely they will sell the house in the $58 million to $60 million range,’ the Netflix personality said, ‘thus they could lose several million dollars on the sale.’
Oppenheim said that the specific location of the estate creates another factor complicating things for Lopez and Affleck as they look to move forward.
He said that the geographic location of the home ‘is located in the Beverly Hills Post Office area, which is technically in the city of Los Angeles’ and ‘not the independent city of Beverly Hills,’ so ‘they will have to pay a mansion tax of more than $3 million.
He added: ‘They could lose more than an additional $5 million after commissions, taxes, etc.’
Oppenheim said that the costly tax has had ‘a devastating impact on luxury sales in Los Angeles, with sales over $5 million down over 60 percent since the tax took effect in 2023.’
In the fallout, Oppenheim said, ‘many sellers have decided not to sell, and many buyers choosing to purchase in Beverly Hills, Newport Beach, Malibu, or simply deciding to leave California altogether.’
Lopez’s August 20, 2024 divorce filing came after months of speculation swirling around the relationship between the A-list singer-actress and actor-director.
Affleck seen in Brentwood, California this past June 12
Lopez was the center of attention as she walked in LA on Sunday
Lopez filed the documents on the two-year anniversary of their nuptials at Affleck’s estate outside of 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 surfaced that the musician and the Oscar-winning director were reconnecting after Lopez’s breakup with former MLB star Alex Rodriguez.
The couple confirmed their relationship on Instagram that July and made their red carpet return at the 2021 Venice Film Festival, and subsequently exchanged 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,’ Lopez said in her newsletter On the JLo on July 17, 2022. ‘One we dreamed of long ago and one made very real (in the eyes of the state, Las Vegas, a pink convertible and one another) at very, very, long last.’
The couple again exchanged vows at Affleck’s estate outside of Savannah, Georgia on August 20, 2022, two years to the day prior to Lopez’s divorce filing.
Lopez is mother to 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: 18-year-old Violet, 15-year-old Fin, and 12-year-old Samuel.
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