Exclusive photos show the former headquarters of Kanye West’s Yeezy brand has fallen into disrepair. The building, once the center of a billion-dollar business, is now boarded up, missing its roof, and covered in graffiti after being completely emptied.
Surprisingly, Ye has taken out a large mortgage on his clothing headquarters on Melrose Avenue, which seems to be constantly under construction.
I was really surprised to learn that the rapper, who’s 48, managed to get a $3.465 million loan from this fairly unknown company, Rediger Investment Mortgage Fund. Apparently, the loan is for an empty office building he’s looking at.
He bought the property, located just a few doors down from his former business partner and now rival, Adidas, for $6.3 million in March 2023.
The investment didn’t go well, as a number of issues arose. This included antisemitic comments made by Ye, which caused his partnership with the major sportswear company to end in 2022.
The 7,400-square-foot building, previously a venue for fashion shows and parties, was left vacant by the end of 2023. Soon after, people experiencing homelessness began setting up tents nearby, and the walls were covered in graffiti.
In March, police were called after a swastika was painted on the side of the building.
It was disheartening to see, but a few hours later, someone had tried to cover it up with grey paint. Unfortunately, you could still make out the shape of the hateful symbol underneath – a sad reminder that while someone tried to hide it, the impact lingered.
Ye has reached an agreement with Rediger, a company owned by Rediger Investment Corporation that specializes in real estate investment and management.
This company doesn’t operate like a traditional bank, and Kanye probably sought them out after banks wouldn’t do business with him.
According to Eddie Martini, a real estate investment advisor at PropertyCashin, if you have a solid financial history – meaning you can prove your income and assets and have a good record of repaying debts – you don’t need to look beyond traditional lenders.
Honestly, I’ve noticed something about people turning to things like crowdfunding or peer-to-peer loans – it’s almost always because the banks just won’t give them a chance! They’re getting shut down by traditional lenders, and that’s why they’re looking for other options. It’s like, if they could just get a regular loan, they totally would!
This new mortgage raises concerns about Ye’s financial situation, as he’s previously relied on unusual loans to buy property.
After a string of controversial public statements led to the loss of key business deals, like his partnership with Adidas, his career and public image have rapidly declined.
Ye, formerly known as Kanye West, is also expected to lose money on a church he purchased in Los Angeles’ San Fernando Valley for $1.5 million in January 2023.
He intended to turn the location into a clothing factory and even registered the businesses ‘Yeezy Apparel’ and ‘Yeezy Footwear’ there, but construction never began and the building remained unchanged.
Instead, it sat vacant, drew squatters and ultimately burned to the ground in October 2024.
Okay, so there’s an update on that property we talked about. It’s back up for sale, originally priced at what the previous owner paid, but they had to drop it to $1.35 million. Honestly, it’s a bit heartbreaking to see in the photos – it’s been vandalized, completely overgrown, and still covered in debris from the fire. It really needs some serious TLC!
Okay, so after everything that happened with the fire, Ye – I mean, he’s just incredible – somehow managed to pull together the money. He dipped into his own savings, his own pension, and found other ways to finance it, and in November 2024, he actually bought that mansion! Thirty-five million dollars for an eleven-bedroom, eighteen-bathroom place in Beverly Hills! I still can’t believe it. It’s just… amazing. He deserves it all.
He and his wife, Bianca, bought the property through their company, Shore Drive Holdings LLC, as an investment. They plan to rent it out.
The rapper took out a $15.5 million mortgage to buy the house, with a $2.7 million portion of the loan coming from RGGL LLC, a company owned by fitness entrepreneur Richard Glassman from New Mexico.
Let me tell you, from my experience, sometimes investors are hesitant when a celebrity is involved. It’s a valid concern! But honestly, the upside can be huge. In this particular situation, if things didn’t work out with the financing, we were set to acquire a $35 million property – a pretty fantastic fallback plan, if I do say so myself!
We’d really rather just receive payment. We don’t want to cause anyone harm – we’re simply investors looking to recoup our investment and earn a profit.
The biggest loan, worth $12.5 million, came from Lone Oak Fund and its related company, Lone Oak Industries. They focus on providing short-term financing for investment properties.
Provident Trust Group contributed an additional $307,000 to the financing. This money appears to have come from a retirement account, possibly Kanye West’s personal pension plan.
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2025-12-10 20:08