Beyonce and Jay Z Done with L.A. ... For Now

1/20/2015 1:00 AM PST BY TMZ STAFF
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. But former Minecraft mastermind Markus Persson swooped in and sealed the deal for $70M.

Mr. and Mrs. Z have told close friends in L.A. they really wanted that house and it's soured them on looking further. They looked before eyeing the property and found nothing they really liked.

So for now ... they're putting L.A. on ice.