Kanye West Has Officially Sold His Gutted Malibu House for Less Than Half of Its Original Price

Add one more thing to the list of things Kanye West successfully destroyed! After ruining his reputation and becoming one of Hollywood’s most controversial figures, Ye has successfully turned a stunning one-of-a-kind property into a construction site that has now been sold.

Kanye West, or Ye, paid USD 57.3 million for an oceanfront Malibu property, which was designed by Pritzker Prize winner and legendary Japanese architect Tadao Ando. Apparently, the rapper admired Ando and wanted a property with his touch but didn’t like its interior. So, the musician-turned-fashion designer attempted to redesign the property to his liking, ripping out all of the windows, doors, interior finishes, and even plumbing, turning it into… a bomb shelter. But he quickly changed his mind and abandoned the house after stripping it down to its bones. In January, he listed the concrete structure for sale at an astonishing USD 53 million. As you would expect, there were no takers, but that didn’t stop Ye. So, who ultimately bought the deconstructed Malibu house from Kanye West and for how much? Here’s everything we know so far.

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The Malibu house of Kanye West: Before and after

After finding no prospective buyer willing to shell out USD 53 million for the destroyed home, the rapper engaged the help of famed exclusive listing agent Jason Oppenheim of the Netflix show Selling Sunset, and slashed the price down to USD 39 million.

Before

According to The Oppenheim Group’s website, the home is one of a few residential structures designed by iconic designer Tadao Ando. His use of minimalist structures and reinforced concrete, as well as his signature “smooth-as-silk” concrete, can still be seen in the structure and surface of the house. It’s important to note that all the photos featured in the Oppenheim Group’s listing were taken before the property was ruined by Ye.

The architecture, which is composed of 1,200 tonnes of concrete, 200 tonnes of steel reinforcement, and 12 enormous pylons driven more than 60 feet into the sand, was designed to signify resilience and strength along California’s busy and ever-evolving coastline.

The layout also makes innovative use of natural light to brighten up the space. The mansion has approximately 4,000 square feet of indoor space and around 1,500 square feet of outdoor decks, with ocean views available from every room. In its prime, the home was a charming property with natural surroundings that would make anyone feel peaceful and relaxed. The house is located on the distinguished Malibu Road and has a genteel environment. It is also within close proximity to the beach, the best restaurants, Entertainment, and more.

After

Malibu mansion gutted by Kanye West loses $18 million in value: Reports https://t.co/cbQLoj2iSE pic.twitter.com/ceqx0TAWqr

— KTLA (@KTLA) June 25, 2024

Well. let’s just say it WAS a beautiful residence. Recent photos of the house shared by TMZ, show the house in its current form, an inhabitable and uNFLattering concrete skeleton at most. Currently, the 3-storey house is missing all windows, doors, interior furnishings, plumbing, electricity and HVAC. After getting over his redecoration era, Ye abandoned the property and appointed the services of Jason Oppenheim to wash his hands of it.

TMZ also reported that Ye is being sued by former project manager Tony Saxon who was overseeing the remodel. Kanye West hired Saxon back in September 2021 as a project manager, caretaker, and 24/7 security for the Malibu house. Saxon claimed he had to work 16 hours a day for the renovation while the house was not in a livable state, but the rapper didn’t care. Ye reportedly only paid Saxon for one week of his services until November 2021, and demanded he removed electricity and windows from the house. When the manager voiced his concerns and refused to comply with his demands, he was asked to “get the hell out.”

Who bought the Kanye West Malibu house and what’s their plan?

If you love Selling Sunset, you will not have missed the season 8 finale in which Jason Oppenheim reveals that he’s been tasked with selling Kanye West’s USD 53 million Malibu mansion. After learning about the condition of the house, we can probably guess that it is far from a dream listing. However, in spite of its gutted condition, Oppenheim managed to sell the property to Belwood Investments, a California-based real estate crowdfunding firm that bought the home for USD 21 million. That implies West will suffer a staggering USD 36 million loss on the property.

Adding insult to injury, CEO Bo Belmont is investing an additional USD 5 million to restore the house to its original state. “It is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu,” he said. The house will return to market within 12 to 18 months after restoration, where it is expected to fetch around USD 40 million.

(Main and featured image: The Oppenheim Group and IMDb)