Foreign Property News | Posted by Si Thu Aung
Rapper and designer Kanye West, now going by Ye, is ditching his Tadao Ando-designed Malibu masterpiece for $78.2m (US$53m) — a few years after splurging $84.5m (US$57.25m on the coastal crib.
Insiders tell The Post that a concoction of factors, including the artist’s shaky finances, played a key role in his decision to unload this unique oceanfront abode, even at a loss.
The music mogul acquired the beachfront property back in 2021 and embarked on an ambitious renovation project that remains incomplete.
Jason Oppenheim, of the Oppenheim Group and “Selling Sunset,” stated that the roughly 372 sqm dwelling is in dire need of windows, doors, plumbing, electrical work, HVAC and interior finishes.
“It will take several million dollars for the house to be finished,” Oppenheim told the Wall Street Journal, painting a picture of a mansion in need of a financial rescue.
Originally crafted in 2013 by Wall Street titan Richard Sachs, the property spent seven years in the making, involving meticulous planning, permitting and construction.
(The front of Kanye’s Malibu home. Pictures: Realtor/Getty)
Sachs later slapped a $75m price tag on the completed house in 2020, constructed from Pritzker Prize-winning Japanese architect Ando’s signature smooth concrete — a behemoth made of approximately 1,200 tonnes of that material, 200 tonnes of steel.
The three-storey house has four bedrooms, colossal window openings facing the water and an additional 140 sqm of deck space.
(The home backs right onto the water.Pictures: Realtor)
Not a stranger to controversy, West previously faced backlash for anti-semitic remarks, leading to severed partnerships with major brands like Adidas and Gap last year.
(An aerial look at the home’s location. Pictures: Google Maps)
(Kanye West and Bianca Censori in Los Angeles, California. (Photo by Rachpoot/Bauer-Griffin/GC Images)
Ref: Kanye West forced to list rare oceanfront Malibu home due to financial woes, may lose millions on the deal (realestate)
