Jay Z and Beyonce — the King and Queen of NYC — could be California dreaming by Christmas time … they’re on the verge of closing a deal for an insane mansion, listed for $85 million.

According to TMZ’s real estate sources Jay and Bey are the front runners in a bidding war on the 23,000 square foot palace in Beverly Hills — and in the most UBER exclusive part of the ultra exclusive community.

We’re told there are a total of 4 offers on the pad — listed by real estate maven Branden Williams — and the Carters aren’t the only celebs interested.

TMZ says Beyonce, Jay and the seller are “just a few million dollars apart” on the price. They’ve already visited the home six times.

The deal’s expected to close by Christmas for right around $70 million! Stuff that in your stocking.