Jay-Z and Beyoncé have just snagged one of the greatest architectural masterpieces in the country … a 30,000-square-foot home in the prime area of Malibu … and they paid a King’s ransom.

Real estate sources tell TMZ … the couple paid $200 million for the property, making it the most expensive home ever sold in the entire state of California … eclipsing the previous record of $177 million. It’s also the second most expensive real estate deal in the country — the top being $238 million for an NYC apartment.

They actually got an unbelievable deal … the home was quietly listed for a whopping $295 million.

The house sits on an 8-acre bluff overlooking the Pacific Ocean in the Paradise Cove area … AKA Billionaires’ Row.

The house was owned and built by William Bell, one of the biggest art collectors in the world. It took Bell almost 15 years to build the all-concrete structure.

The home is the couple’s second massive real estate purchase in the Los Angeles area that we know of … back in 2017, they purchased a Bel-Air mansion for $88 million, and pumped millions more into the home to push it over the $100 million mark.

Mega-celebrity realtor Kurt Rappaport repped both the buyers and seller. We contacted his office for comment … so far, no word back. (TMZ)