Jay-Z has rented a $1 million nursery at the Barclays Center in Brooklyn.

The rapper and his wife Beyonce Knowles are often spotted at the arena watching Jay-Z's basketball team the Brooklyn Nets and he splashed out on the luxurious suite for their 12-month-old daughter Blue Ivy so she can accompany them.

A source told Us magazine: ''Jay rents a luxurious basement suite for $1 million a year. It has an area for Blue filled with toys.''

However, the VIP space is not just for kids, it can also be converted into an entertainment area for adults.

The insider added: ''It's all glass with a champagne bar and TV screen. Jay lets friends use his digs when he's not there.''

On Monday (31.12.12) the 'Big Pimpin' rapper shared the bill with Coldplay at the Barclays Center to welcome in the New Year, and Jay-Z was joined by frontman Chris Martin to sing the traditional 'Auld Lang Syne' at 11.59pm.

The show had opened earlier with Coldplay performing hits including 'The Scientist', 'Paradise', 'Viva la Vida', 'Princess of China' and 'Yellow'.

The band were joined by Jay for the track 'Lost+', which he originally collaborated with them for on their 2008 EP, 'Prospekt's March'.

After the traditional midnight celebrations Jay-Z opened his set proper with the appropriately titled 'On to the Next One'. The rapper performed 25 songs into the early hours of the morning, including 'Hovi Baby', 'I Just Wanna Love U (Give It To Me)' and 'Izzo (H.O.V.A.)'.