Kanye West's Gutted Malibu Mansion Was Bought By A Real Estate Firm For $21 Million, $36 Million LESS Than What He Paid For It
Some time ago, it was reported that after months of attempts and price cuts, the Malibu mansion that Kanye West bought for $57.3 million in 2021 with ambitious plans to turn it into a bomb-shelter-like bunker had finally found a buyer. West had somewhat infamously stripped the home of most of its internal structure, windows, electrical wiring, and so on, then reportedly growing bored with the project and listing the gutted house with an asking price of $53 million late last year. Now, a press release from real estate firm Belwood Investments reveals that it has acquired the home, and at quite a bargain, for $21 million.
(Photo by Edward Berthelot/GC Images)
The press release brags about how Belmont CEO and namesake Bo Belmont managed to get an architectural treasure from noted architect Tadao Ando at such a steal, mentioning the "intense negotiations" necessary to get the final price down from that initial listing price of $57 million. Of course, that doesn't mention that West had already reduced that asking price to $39 million, but it's still a pretty impressive discount on what will hopefully again be a treasured piece of real estate. How impressive? Here's how its new owners describe it:
"The house is an architectural masterpiece. The home blends modern minimalism with luxurious details, characterized by clean lines, open spaces, and an abundance of natural light. The property boasts breathtaking ocean views, seamlessly integrating indoor and outdoor living. High-end materials and finishes are evident throughout, with spacious living areas, a gourmet kitchen, and elegant bedrooms. The design includes expansive glass walls, allowing for panoramic vistas of the Pacific Ocean, creating a serene and sophisticated ambiance."
To that end, Belmont says it's putting another $5 million towards renovations that will bring the home back to its architect's original vision:
"Belwood plans not only to renovate the property but also to restore it to its original state as specified by Tadao Ando. Given the rarity and design mastery of this property, it is most fitting to return it to its originally designed condition. The unique materials used, many of which were imported from around the world, contribute to an estimated renovation period of 12-16 months."
After that, the people at Belmont figure the home could go for as much as $50 million, thanks to both its prime location and Ando's architectural clout — remember, his work was what reportedly attracted West to the property in the first place.
Here's some footage of the house taken from a helicopter:
Read more: Kanye West's Gutted Malibu Mansion Was Bought By A Real Estate Firm For $21 Million, $36 Million LESS Than What He Paid For It
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