Jay Z and Beyonce have scratched plans to get a wildly expensive pad in L.A. ... after losing out to an incredibly rich nerd in a ferocious bidding war.
TMZ broke the story ... Jay and Bey put an offer in on a sick Beverly Hills mansion ... we're told just shy of $70 mil. At the time we were told they were only several million off from sealing the deal
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Source: TMZ
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