Kanye West, also known as Ye, bought a house for $57 million but ended up selling it for less than half that price due to significant alterations he made.
In 2021, Ye acquired a beachfront property on Malibu Road for $57.3 million.
This 4,000 square-foot home, designed by renowned Japanese architect Tadao Ando, was initially purchased from Richard Sachs, as noted by Architectural Digest.
Ye made drastic changes after the purchase. He completely gutted the house, removing all the interior finishes, including the floor-to-ceiling windows and plumbing systems, according to reports by Forbes.
Despite the unfinished renovations, Ye put the house back on the market in January 2024, initially asking for $53 million.
However, the house found no buyers at that price. By April, it became clear that the price would have to be significantly reduced due to the unfinished state of the property.
The asking price dropped to $39 million by Jason Oppenheim of Selling Sunset fame and is still on the roster of The Oppenheim Group.
Their website describes the structure as made from “1200 tons of concrete, 200 tons of steel reinforcement, and 12 massive pylons driven more than 60 feet into the sand,” labeling it “an everlasting beacon of permanence on California’s coastline.”
Despite this, the house struggled to find a buyer at that price and was eventually sold for much less.
According to TMZ, Belwood Investments, a California-based real estate investment company, purchased the property. They paid far below the original price—only 36.6 percent of what Ye had paid, amounting to $21 million.
Belwood Investments stated in a press release obtained by TMZ, “This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu.”
The company plans to invest an additional $5 million to restore the property after Ye’s extensive modifications.
The Oppenheim Group has described the house as “an exceedingly rare architectural achievement that should be seen as a masterful work of art, rather than just a residence.”