Ye’s Malibu home sells for $21m, massive loss from purchase
Ye's Malibu house, once $57.3m, sold for $21m after renovations
Kanye West, now known as Ye, bought a beachfront house in Malibu for $57.3 million in 2021. The 4,000 square-foot concrete home, designed by Japanese architect Tadao Ando, was purchased from Richard Sachs. Ye made significant changes to the property, removing all interior finishes, including its floor-to-ceiling windows and plumbing.
In January 2024, Ye listed the house for $53 million, but there were no takers. By April, the price dropped to $39 million, managed by Selling Sunset realtor Jason Oppenheim. The Oppenheim Group’s website highlights the house’s robust construction, featuring 1,200 tons of concrete, 200 tons of steel reinforcement, and 12 massive pylons driven over 60 feet into the sand. The property is described as “an everlasting beacon of permanence on California’s coastline.”
Despite these features, the property eventually sold for much less. Real estate investment firm Belwood Investments bought the house for $21 million, just 36.6 percent of what Ye initially paid. Belwood Investments plans to invest $5 million into the property to restore it after Ye’s renovations.
A press release from Belwood Investments calls the purchase a chance to preserve an architectural gem by Tadao Ando. The Oppenheim Group considers the house a rare architectural achievement, more a masterful work of art than a mere residence.
What Other Media Are Saying
- Highsnobiety explores Kanye West’s $57 million Malibu mansion decline, mirroring his public reputation, with extensive renovations halted and the house left to rot amidst disrepair. (Read more)
- NY Post reports Kanye West’s Malibu mansion makeover devalued by $14 million after demolition, reflecting his unconventional design choices and ongoing property market challenges. (Read more)
- **Forbes**: Kanye West’s abandoned Malibu mansion, bought for $57.3 million, now reduced in price by $14 million due to extensive renovations and lack of interest. (Read more)
Frequently Asked Questions
Here are some common questions asked about this news
Why did Kanye West’s house sell for so much less than he paid?
The house sold for less because Kanye gutted it, removing all interior finishes like windows and plumbing.
Who designed Kanye West’s Malibu house?
The house was designed by Japanese architect Tadao Ando.
How much did Kanye West originally pay for his Malibu house?
Kanye West paid $57.3 million for the house in 2021.
What is the current state of Kanye West’s Malibu house?
The house was gutted and sold in a less finished state; Belwood Investments plans to invest $5 million to restore it.
How much did Belwood Investments pay for Kanye West’s Malibu house?
Belwood Investments bought the house for $21 million.
