Hollywood stars Jennifer Lopez and Ben Affleck have officially finalized their divorce, marking the end of their whirlwind rekindled romance that had captivated fans worldwide. Amid their separation, the former power couple has agreed to split the proceeds from their $68 million Los Angeles mansion, a luxurious estate that has proven challenging to sell.
The Mansion: A “White Elephant” in Real Estate Terms
Lopez and Affleck purchased the sprawling property for $60.8 million roughly a year ago, but it quickly turned into an architectural and financial burden. Real estate experts have described the mansion as a potential “white elephant”—a property that, despite its grandeur and appeal, struggles to attract buyers due to its high price tag and niche market appeal.
For nearly six months, the mansion has languished on the market, coinciding almost perfectly with the couple’s separation timeline. According to court documents, Lopez and Affleck separated in April of the previous year, and since then, the estate has been listed with an ambitious asking price of $68 million.
Divorce Settlement Details
The terms of their divorce highlight a mutual agreement to retain their respective personal belongings and earnings acquired after their separation. This includes:
- Jennifer Lopez: Retains her extensive wardrobe, jewelry collection, and any other personal effects in her possession. She also keeps control of her individual assets.
- Ben Affleck: Maintains ownership of his stake in Artists Equity, the production company he co-founded with Matt Damon.
As for their shared assets, the couple will equally split the proceeds from the eventual sale of their mansion. However, with the real estate market’s volatility and the mansion’s specific challenges, it remains unclear if they will see a significant profit—or even break even.
The Mansion’s Financial Burden
Owning a mansion of this scale comes with staggering monthly costs. Experts estimate that maintaining the property racks up bills of over $280,000 per month, which includes:
- Property taxes
- Security expenses
- Mortgage payments
- Homeowners’ association (HOA) fees
Adding to the financial strain is Los Angeles’s “mansion tax,” which imposes a 4% levy on properties sold for $5 million or more. For this $68 million estate, the tax amounts to a whopping $3 million, further cutting into any potential profit.
Real estate agent Jason Oppenheim previously suggested that the mansion’s market value might not align with its listing price. He estimated the final sale price could fall between $58 million and $60 million—potentially leaving the couple breaking even or absorbing a slight loss compared to their original purchase price.
What’s Next for the Mansion?
The mansion’s opulence and grandeur—features that typically attract high-profile buyers—may also be its biggest hurdles. With a cooling real estate market and fewer ultra-wealthy buyers willing to invest in such niche properties, the sale could take time.
The property’s estimated monthly costs and the hefty mansion tax mean that Lopez and Affleck are under pressure to find a buyer sooner rather than later. While breaking even at $60.8 million might be a realistic goal, it’s a far cry from the profit they might have envisioned when purchasing the home.
A New Chapter for Both Stars
With their divorce finalized, both Jennifer Lopez and Ben Affleck are moving forward independently. Lopez, a global music and acting sensation, continues to dominate the entertainment industry with upcoming projects and ventures. Affleck, meanwhile, remains focused on his production company, Artists Equity, and other film projects.
While their shared real estate venture did not turn out as planned, the resolution of their divorce and financial matters allows both stars to focus on their individual futures. For now, their once-shared mansion remains a lingering tie—a grandiose symbol of a chapter now closed.
