Kanye West Selling Gutted Malibu Mansion at $36 Million Loss

Kanye West (now known as Ye) has found a buyer for the Malibu mansion he stripped down — albeit at a loss of roughly $36 million.

Real estate investment company Belwood Investments announced in a press release earlier this month it was under contract to acquire the property in the $21 million range. As previously reported, West had already dropped the asking price of the 4,000-square-foot house from $53 million to $39 million after struggling to sell it.

West purchased the Tadao Ando-designed property for $57.3 million from bicycle designer Richard Sachs in 2021. He prepared for substantial renovations by gutting fixtures and furnishing, including windows and doors, but construction was abruptly halted in 2022, leaving parts of the structure completely exposed to the elements.

Belwood Investments mentioned the “unfinished renovations and subsequent damage” in their press release, implying the door was thus left open for “aggressive negotiations with The Oppenheim Group.”

In another hastily abandoned project, it was reported in April that West was “dead set” on going into the porn industry. Just weeks later, all announcement posts for “Yeezy Porn” were taken down.

Earlier this month, West finally released Vultures 2, his long-delayed collaborative album with Ty Dolla $ign. It arrived six months after Vultures 1, which Consequence Features Editor Wren Graves called “dead on arrival” in his review.