Alex Rodriguez and Jennifer Lopez have officially called it quits after a two-year engagement. The news comes after the former couple landed a luxurious $40 million estate in Miami‘s Star Island neighborhood. Rodriguez and Lopez shared the breakup news exclusively on the Today show, indicating they are “better as friends.”

The couple said they have “realized we are better as friends and look forward to remaining so.” Rodriguez and Lopez then added they will “continue to work together and support each other on our shared businesses and project” and “wish the best for each other and one another’s children.” Lopez shares 13-year-old twins Maximilian “Max” David and Emme Maribel with Marc Anthony and the former MLB player is dad to daughters Ella, 12, and Natasha, 16, whom he shares ex-wife Cynthia Scurtis. The statement ends by saying “out of respect for them, the only other comment we have to say is thank you to everyone who has sent kind words and support.”

According to TopTenRealEstateDeals.com, the home “features large open-and-airy rooms that open to the breezes off their backyard Biscayne Bay.” The estate consists of 10 bedrooms, 12 bathrooms, an elevator, a library, a wine room, a stunning kitchen, a family room, a guesthouse, and a 100-foot wooden dock. The couple has earned the $40 million mansion based on what they’ve done in their careers. Rodriguez is a baseball legend as he was named to the All-Star team 14 times, named AL MVP three times and helped the New York Yankees win the World Series in 2009. Lopez is an accomplished actress, dancer, singer and producer. She is known for her roles in films such as Selena, Out of Sight and most recently Hustlers. Here’s a closer look at the stunning home, which might just hit the market sooner than expected in light of their recent breakup.