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Jay Z is giving Madonna a run for her money by throwing a starry, and until now, secret late night Oscar party in Hollywood

Word is spreading around Tinseltown that the hot late night Oscar party Sunday will be thrown by Jay and Beyoncé at the Chateau Marmont Hotel on Sunset Boulevard.

The Oscar winners traditionally head to the Vanity Fair Oscar Party after the show, then late into the night, a select few would be invited to Madonna’s exclusive bash thrown at Guy Oseary’s Hollywood mansion — where press is banned, the stars drink and dance, and the shoes come off (amongst other apparel).

But this year Jay, who is now moving into the filmmaking world, is coming to town to throw one of his legendary parties with his famous crew.

Sources exclusively told Page Six, “Jay has always wanted to throw an Oscar party, and now feels like the right time.”

Crews have been spied surreptitiously loading couches and sets into the parking garage of the Chateau Marmont for the last four days – and at Friday night’s Piaget party in honor of the Indie Spirit Awards, attended by Elizabeth Olsen and Michael B Jordan — Chateau party guests were wondering why on earth the parking garage was not just closed — but utterly blocked off from view.