Additional Coverage:
- New Owner of Kanye West’s Gutted Malibu Mansion Revealed (newsbreak.com)
Kanye West has sold his unfinished Malibu mansion, a property initially purchased as a luxury home but later stripped down, potentially for conversion into a bomb shelter. The property, designed by famed architect Tadao Ando, was acquired by West in 2021 for $57.3 million. He listed the largely dismantled house for $53 million but faced challenges finding a buyer willing to take on the extensive renovations required.
Eventually, after dropping the asking price to $39 million, West and his realtor, “Selling Sunset” star Jason Oppenheim, managed to secure a sale. The buyer, Belwood Investments, a real estate crowdfunding firm based in California, purchased the property for approximately $21 million and announced plans to invest an additional $5 million to restore the mansion according to Ando’s original vision.
Bo Belmont, CEO of Belwood Investments, expressed enthusiasm about the purchase, emphasizing the property’s architectural significance and the opportunity to preserve a remarkable design within the Malibu area. The transaction is set to close on September 3, as the company aims to rejuvenate and maintain the integrity of this architectural masterpiece.
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- New Owner of Kanye West’s Gutted Malibu Mansion Revealed (newsbreak.com)