Kanye West’s Abandoned Malibu Home to Be Purchased for $39 Million by Real Estate Startup

A California property startup has begun the process of purchasing Kanye West’s former Malibu home.

According to TMZ, the Tadao Ando-designed residence, which the "Carnival" rapper purchased in 2021 for $57.3 million, was approached with a purchasing deal by "real estate crowdfunding firm" Belwood Investments. As the home was previously bought by bicycle framebuilder Richard Sachs in 2013, Belwood—who made a deal for under $22 million—looks to restore the property to honor Ando.

With the deal on the home closing on September 3, the company's CEO, Bo Belmont, reportedly plans to invest $5 million into renovations. "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," he said in a press statement.

The home’s final design will likely differ from the intention that West had for it. In 2022, the rapper-producer stripped the property, exposing the interior, and planned to transform it into a bomb shelter. West's decisions to alter the home didn't come without some controversy; as contractor Tony Saxon was allegedly asked to remove essential spaces like the kitchen and bathroom, along with converting the staircase into a foam slide.

The home was worth $75 million upon its original construction and West listed the project for $53 million before slashing the asking price to $39 million over the spring. Renovations are scheduled to last for 12 to 16 months.