Jay-Z continues to broaden this business portfolio, adding yet another venture to it. This time it’s a real estate deal.

According to the New York Post, Jay-Z teamed up with a group of partners to finalize a $66 million deal for a piece of prime real estate in New York's trendy Chelsea neighborhood, where they are considering the possibility of building an art gallery or high end hotel.

"It's a great piece of property adjacent to the High Line in a great neighborhood," Scott Shnay, one of Jay's partners, told the paper.

Jay's other partners include Scott's father local developer Abram Shnay and Charles Blaichman, whose past developments include the Philip Johnson-designed Urban Glass House in TriBeCa.

In related news, Jay plans to host a grand opening for his third 40/40 Club in Las Vegas on December 30, which will open in the brand new Palazzo, a 53-story extension of the Venetian and Sands complex that is scheduled to open the same night.

The $20 million club will feature 85 plasma TVs, five exclusive VIP rooms, 24-karat gold and platinum floors and five 40 foot bi-level bars.

"We represent what the entertainment capital of the world is all about, it's only natural we open here," Jay said in a statement.

The original 40/40 Club is located just blocks away from his recent real estate investment, while another is located in Atlantic City. There are also plans to open two more overseas -- one in Tokyo and another in Macau.