Kanye West’s former Malibu mansion reportedly is on the market again, with the gutted concrete residence now listed at $34.9 million after a series of failed deals and stalled renovations.
The Home That Won’t Sell
The relisting is according to Realtor.com, though it has not been confirmed.
The minimalist masterpiece, designed by renowned Japanese architect Tadao Ando, represents a dramatic fall from grace for what was once considered among Malibu’s most coveted properties. Three years after West abandoned his controversial renovation project, the architectural gem is still in the news.
The journey began promisingly in 2021 when West purchased the minimalist four-bedroom home for $57.25 million. The property, dubbed “Little Ando,” was designed by the same architect behind Jay-Z and Beyoncé’s record-setting Malibu estate. The sale represented one of the most expensive residential transactions in Malibu history.
However, West’s vision took an unexpected turn in 2022. He embarked on an ambitious renovation project, seeking to transform the residence into his personal “bomb shelter” and “bat cave.”
The renovation involved gutting the Ando home, removing windows, plumbing, and electrical systems, reducing the architectural masterpiece to a concrete shell.
The project was ultimately abandoned, leaving the concrete structure exposed to the elements throughout 2022 and 2023. This decision would prove costly both financially and legally, as a former project manager filed suit against West for wrongful termination and unsafe working conditions. The legal complications further hindered any potential sale efforts, with real estate insiders beginning to describe the stripped-down home as “a teardown” that had lost much of its original value.
By 2024, the financial reality became starkly apparent. Crowdfunded real estate firm Belwood Investments acquired the property for just $21 million. The firm, backed by over 500 investors, began an ambitious restoration effort, installing new framing, plumbing, roofing, and electrical work.
Belwood listed the semi-restored property for $39 million earlier this year, Realtor reported, pursuing nearly an 86 percent markup. The listing attracted interest from Andrew Mazzella Ventures LLC, which entered contract in March for an undisclosed sum exceeding $30 million. Andrew Mazzella’s cash offer reportedly included plans to complete the renovation and relist for between $55 to $65 million.
However, the deal has since stalled, with the originally scheduled May 1 closing date passing without completion. Construction has been halted, and negotiations between the parties continue. The three-story home now sits in limbo once more, with Jason Oppenheim of the Oppenheim Group and Mauricio Umansky of the Agency maintaining the listing.
This Malibu saga reflects West’s broader real estate divestment strategy after so much of his life went haywire after his anti-Black and anti-Semitic rants over the last five years.
The artist has been liquidating portions of his Los Angeles property portfolio, recently listing two distressed properties for $3.5 million. These include a burned-out former church building in Northridge destroyed in a suspicious October 2024 fire now under arson investigation, and a crumbling Calabasas ranch intended as headquarters for his defunct Donda Academy.
The pattern extends to his upscale Calabasas condominium, currently listed for $2.95 million but carrying over $60,000 in delinquent property taxes. Sources suggest West owes more than $300,000 across his various property holdings, contributing to what appears to be a strategic liquidation amid mounting financial pressures and the stalling of his Yeezy business empire.
Despite purchasing a $35 million Beverly Hills mansion with wife Bianca Censori last year, the couple has reportedly been residing primarily in luxury hotels, including extended stays at the Four Seasons and Chateau Marmont. Recent sightings of West traveling via commercial rather than private aircraft further underscore the apparent shift in his financial circumstances.
The Malibu property’s troubled history serves as a cautionary tale about the intersection of celebrity ambition and architectural preservation, while highlighting the volatile nature of luxury real estate investments when vision exceeds execution.
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