Kanye West’s ambitious renovations to his former Malibu mansion have been met with harsh criticism by the property’s new owner, Bo Belmont. The CEO of Belwood Investments recently purchased the Tadao Ando residence for $21 million — substantially less than the $57.25 million West paid in 2021 — and is not impressed with the changes the rapper, now known as Ye, made during his brief ownership.
Design Bust
Ando is one of Japan’s foremost contemporary architects, celebrated for his minimalist concrete designs. The self-taught architect opened his architectural practice in Osaka in 1969. The Pritzker Prize-winner’s designs often harmonize with their natural surroundings. The property Ye bought was originally designed by Ando in 2013 for art collector Richard Sachs.
Belmont didn’t hold back in his critique of Ye’s alterations. “That was a really dumb move,” Belmont told the Los Angeles Times, specifically referring to West’s decision to remove the floor’s glazed finish. “There was really no purpose.” He also commented that despite the home’s structural beauty, the modifications had diminished its value and aesthetic, calling the changes “mostly cosmetic” but still puzzling.
The Malibu property had been radically transformed by Ye during his ownership. The rapper, known for his eccentric artistic vision, removed the windows, doors, electric wiring, and plumbing with plans to turn the space into a minimalist bunker. According to The Los Angeles Times, West’s vision included making the stairs into a slide, turning the floors into trampolines, and adding a camouflage facade, which Belmont plans to undo.
Belmont told the Times he intends to restore the home to its former glory. “My goal is to make it as though Kanye was never there. The house will be restored right back to what it was,” he said. The home, with its oceanfront views and minimalist concrete design, remains an architectural masterpiece.
Belmont purchased the property for $21 million — far less than its original listing price of $53 million or the most recent one of $39 million. He sees the acquisition as not only a prime real estate investment but also an opportunity to preserve a piece of architectural art. “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,” Belmont shared in a press release.
Belmont, who specializes in real estate crowdfunding, has raised millions of dollars from investors to fund the restoration. His company, Belwood Investments, aims to return the home to its original condition and potentially turn it into a profitable venture for his investors.
Belmont has flipped homes ranging from $3 million to $10 million, The Wall Street Journal reports. In 2014, he was convicted of assault with a deadly weapon after a violent altercation, resulting in three years in various California prisons. While incarcerated, Belmont began offering real estate advice to prison staff. Upon his release in 2018, he founded Belwood Investments. Since then, the company said it has completed 1,700 real estate transactions, with Belmont boasting an average return of 27%. The Wall Street Journal could not independently verify Belwood’s reported average investor returns or confirm whether any of its investors have ever incurred losses.
“We’ve had thousands of transactions and never had an investor lose out,” he told The Wall Street.
Belmont’s focus now is on revitalizing the 4,000-square-foot, four-bedroom, five-bathroom home to ensure it remains a landmark property in Malibu’s exclusive real estate market.
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