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By Damilola Faustino

Jay-Z and Beyoncé have paid $26 million for a mansion located in East Hampton, New York.

The property, called the Pond House has been on the market for eight years. Neighbors include billionaire Ronald Perelman, Steven Spielberg and Martha Stewart.

The couple’s new seven-bedroom property sits on 2 acres and has 203 feet.

It their latest purchase which comes a few weeks after they spent $88 million on a Los Angeles home.

So, whether they’re in California or New York, they will now have homes in both states.

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