Kanye West, now known as Ye, made headlines when he purchased a beachfront house on Malibu road for $57.3 million in 2021. The 4,000 square-foot concrete house, described as ‘smooth-as-silk,’ was designed by the renowned Japanese architect Tadao Ando, according to Forbes.
Ye acquired the property from Richard Sachs, as reported by Architectural Digest, and subsequently undertook extensive modifications. He completely gutted the house, removing all interior finishes, including floor-to-ceiling windows and plumbing.
Despite these changes, Ye decided to list the house on the market in January 2024, asking for $53 million. However, there were no takers, and by April, the price had to be reduced.
Jason Oppenheim of Selling Sunset fame cut the price to $39 million, and it remained listed on The Oppenheim Group’s website. The website highlights the building’s unique construction, consisting of ‘1200 tons of concrete, 200 tons of steel reinforcement and 12 massive pylons driven more than 60 feet into the sand,’ branding it ‘an everlasting beacon of permanence on California’s coastline.’
Despite these features, potential buyers were not swayed, and the house was eventually sold for much less. TMZ reports that California-based real estate investment company Belwood Investments purchased the house for $21 million, a mere 36.6 percent of what Ye originally paid.
A press release from Belwood Investments, obtained by TMZ, states: “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 $5 million into the property to restore it after Ye’s substantial changes.
The Oppenheim Group described the house as ‘an exceedingly rare architectural achievement that should be seen as a masterful work of art, rather than just a residence.’