Psy buys L.A. condo for $1.249 million; Gangnam Style artist's condo is 2,776 square feet (PHOTO)

Korean pop star Psy has reportedly bought a condo in Los Angeles for $1.249 million, according to ABC News and TMZ.

After Psy's song 'Gangnam Style' blew up in America and went viral on YouTube, he signed a record deal.

The deal is with Scooter Braun, Justin Bieber's manager.

With this deal in place, Psy is digging in and making America his second home.

The apartment is 2,776 square feet and is located in a luxury building, according to TMZ .

According to Billboard, "Gangnam Style" became the first video to garner more than 1 billion views on the Internet (cue the wailing from Justin Bieber fans).

The video recently overtook Bieber's "Baby" video as the most watched on YouTube, breaking the teen heartthrob's former record of 803 million views.

Billboard calculates that "Gangnam Style" is watched 76.4 times per second. They cite Next Big Sound in theorizing that, at its currrent rate, Bieber's video won't cross 1 billion views until 2014.

To see a photo of Psy's new place, click here .