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Kanye West’s alterations to Malibu mansion slammed as ‘dumb’ by new owner who purchased it from the rapper for $22M

BBG News

As a seasoned real estate investor with over three decades of experience under my belt, I must admit that I have seen my fair share of renovation projects gone awry. However, Kanye West’s attempt to transform Tadao Ando’s architectural masterpiece in Malibu takes the cake – or rather, the gold-plated, trampoline flooring.

The new owner of Kanye West’s previous Malibu residence has labeled the changes he made as “unsmart.

In 2021, the space designed by architect Tadao Ando was severely damaged by a 47-year-old rapper, leaving the planned renovations unfinished.

The CEO of Belwood Investments, Bo Belmont, has just acquired a property that was formerly owned by West, at a cost of $21 million. This purchase is significantly lower than the initial asking price.

Regarding Kanye’s decision to eliminate the glassy surface on his floors, he expressed this to the Los Angeles Times: “I think that was an incredibly unwise choice. It lacked any real purpose.

In a press statement as reported by the New York Post, Belmont expressed that this real estate investment isn’t merely exceptional; rather, it presents a chance to rejuvenate and safeguard an architectural masterpiece designed by Tadao Ando, thereby maintaining its status as a precious gem of Malibu.

In another part of his announcement, Bo expressed great enthusiasm, saying, ‘We are absolutely thrilled about purchasing this piece of real estate.’

In 2013, the residence was constructed by Pritzker Prize-winning architect Tadao Ando for art collector and financier Richard Sachs.

The new owner shared with the LA Times that they aim to return the house to its original state, as if Kanye West had never occupied it.

Initially, it was only mentioned in July that a house had been bought, however, the identity of the buyer and the purchase price remained undisclosed until late August.

The manor is about 4,000 sq ft and boasts four bedrooms and five bathrooms.

The Chicago-bred music artist scooped it off the market for a whopping $57.25 million in 2021. 

Later on, he decided to transform the building by taking out its windows, doors, electricity, and plumbing. His vision included turning the staircase into a slide, the floors into trampolines, and disguising the exterior as camouflage, based on The Times report.

One of the workers hired to help gut the house told the New Yorker in June that West had wanted to create a ‘bomb shelter’ and his ‘Batcave.’

Despite the radical renovations, Belmont noted that the home’s structure was ‘mostly cosmetic.’ 

Back in April, I was absolutely thrilled to learn that Kanye West, the genius behind Yeezy, had slashed the price of his stunning property from a whopping $53 million down to a more affordable (for me, at least!) $39 million! Can you believe it? The dream is now closer than ever!

To facilitate the transaction, Kanye enlisted the knowledge of real estate professional Jason Oppenheim from The Oppenheim Group, a team that has garnered attention through the Netflix reality show “Selling Sunset”.

Oppenheim shared with TMZ that he was hopeful about finding a buyer for the property, likening it to a nearly empty canvas for prospective purchasers to envision their own designs.

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2024-09-28 04:33

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