It sits on 8 acres on the Pacific Ocean in the Paradise Cove area ... aka Billionaires' Row.What's also astonishing ... our sources say the home's previous owner and builder, William Bell, one of the biggest art collectors in the world, had a $1 BILLION art collection inside.Those pieces obviously won't stay with Jay-Z and Beyoncé ... but you gotta wonder if they might've been able to work a portrait or two into the final negotiations.