The renowned “Yummy” singer and his model spouse have finalized the purchase of an expansive mansion spanning 11,145 square feet, featuring 7 bedrooms and 10 bathrooms, located in Beverly Park, as confirmed by a real estate insider to PEOPLE.

According to the source, although the property was initially listed for $27,250,000, Bieber secured the deal at $25.8 million. Situated on a 2.5-acre plot, the residence boasts exceptional privacy, complemented by lush lawns, an infinity pool, and a tennis court.

The listing was managed by Kurt Rappaport of Westside Estate Agency, while the representation for the Biebers was handled by Josh and Matt Altman, stars of Million Dollar Listing Los Angeles, affiliated with Douglas Elliman.

Notably, Beverly Park is a favored enclave among celebrities, counting luminaries such as Sylvester Stallone and Eddie Murphy among its esteemed residents.

The residence boasts a plethora of upscale amenities, including a screening room, library, gym, and a primary bedroom that extends onto a spacious balcony with views overlooking the verdant backyard.

Outside, the focal point is an infinity-edged pool and jacuzzi, anchoring a backyard ideal for hosting gatherings. Adjacent outdoor living and dining spaces feature a pizza oven, barbecue, and ample seating for alfresco dining. Positioned at the perimeter of the grounds is a tennis court, completing the outdoor leisure offerings.

Bieber’s latest acquisition marks his second property purchase in Beverly Hills. Back in March 2019, PEOPLE confirmed that the pop sensation acquired a mansion in the 90210 zip code for $8.5 million. Initially listed for $8.995 million, the 6,132-square-foot residence, dubbed “The Tropics,” underwent an extensive 18-month renovation in 2017, blending Hollywood glamour with laid-back California style, as noted by a real estate insider at the time.

The purchase came after a prolonged search for the perfect home alongside Baldwin, the source verified. Prior to this acquisition, the couple had been leasing a Spanish contemporary residence in Toluca Lake for nearly $100,000 per month.

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Bieber and Baldwin tied the knot in a New York City courthouse in September 2018, just two months after getting engaged. The pair later celebrated with a larger ceremony in front of family and friends on Sept. 30, 2019, exchanging vows as the sun set at the Montage Palmetto Bluff in Bluffton, South Carolina.

The couple also shares a home in Ontario, Canada, near Bieber’s hometown of Stratford. The lakeside home is where they have been quarantining throughout the coronavirus pandemic.

“They plan on socially distancing themselves,” a source close to Bieber told PEOPLE in March. “In Canada, their home is very secluded and they are able to be out in nature still. They plan on staying in Canada until it’s safe for everyone to resume their regular lives,” the source continued at the time.

The couple returned to L.A. in May and have been on a handful of domestic vacations, including a socially distanced road-trip to Utah and a visit to Idaho.