A Malibu property purchased, gutted, and later abandoned by rapper Kanye West has remarkably withstood the devastating wildfires ravaging Southern California, according to its new owner. This revelation comes just months after the property was sold at a major $36 million loss.
About the Famed Home
Originally designed by renowned architect Tadao Ando, the beachfront home was purchased by West in 2021 for $57.25 million. The rapper, 47, gutted the property, reportedly intending to transform it into a modern bomb shelter. However, those plans were left undone, leaving the structure as just a shell and sparking criticism from architecture enthusiasts.
Despite its dilapidated state, West attempted to recover some of his investment, listing the home for $53 million in January 2024. Even with the assistance of celebrity realtor Jason Oppenheim, the gutted property struggled to attract buyers. The price was slashed to $39 million by April, and by July, developer Steve “Bo” Belmont of Belwood Investments purchased it for $21 million — a significant discount. Belmont announced his plans to restore the home.
Questions about the property’s safety arose when the Palisades fire, the largest of seven wildfires in the region, destroyed dozens of homes, including an $8.4 million beachfront house owned by Paris Hilton. However, Belmont confirmed via Instagram that the former West property survived unscathed.
“Dear investors and partners, I’m relieved to report that, as of now, all of our properties in West Hollywood and Malibu have remained untouched by the wildfires,” Belmont stated. He assured that renovations on the Malibu home would resume once conditions improved.
Belmont has ambitious plans for the $21 million purchase. He said he aims to invest $6 million to $8 million in restoration and complete the project within 12–14 months. The goal? A 100 percentt return on investment.
The original property, built in 2013, features 1,200 tons of concrete and 200 tons of reinforced steel, creating a minimalist 4,000-square-foot, four-bedroom home with sweeping ocean views. Belmont intends to work with the original builders and Marmol Radziner, the firm behind its initial construction.
