Kanye West’s Former Malibu Home Sells for More Than $30 Million After Less Than a Week
- Kanye West's abandoned Malibu home, designed by Tadao Ando, is being sold for over $30 million less than a week after being listed.
Well, that was fast.
The concrete home in Malibu that Kanye West infamously abandoned is being sold for more than $30 million less than a week after hitting the market, The Wall Street Journal reported . The Tadao Ando –designed property is being snapped up by Andrew Mazzella, a luxury-home developer who works primarily in Montana.
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"California and L.A., specifically Malibu, is the highest level there is and I've always wanted to get to the highest level," Mazzella told the WSJ . "This is me kicking down the door."
Some 1,200 tons of concrete were used to construct the beachfront home.
The 4,000-square-foot home has a rather interesting history, to say the least. West threw down a whopping $57.3 million for the estate back in 2021, then completely gutted the place. Before he could complete the renovation, he stepped away from the project, eventually listing the mansion in 2023 and selling it to the crowdfunding company Belwood Investments for just $21 million, a massive loss even for a billionaire.
Steven "Bo" Belmont, the owner of Belwood, began an $8.5 million renovation of the abode in the hopes of returning it to its original condition, The Wall Street Journal noted. But he also changed his mind and spun it back on the market just last week, with a price tag of $39 million. While the exact amount that Mazzella is paying isn't yet public, Belmont told the newspaper that the contract price is between $30 million and $34 million, which Mazzella confirmed.
The four-bedroom home measures in at 4,000 square feet.
To fund the purchase, Mazella is raising money from third-party investors, the WSJ wrote. The developer is planning to move to Malibu for the rest of the year to see the renovations through, at which point he wants to once again place the home up for sale, this time for an eye-popping $55 million to $65 million. In the deal, Mazzella is being represented by Amanda Lynn at Nest Seekers International, while the Ando home was listed by Jason Oppenheim of the Oppenheim Group and Mauricio Umansky of the Agency.
This brings the estate's saga to an end—for now—but the home's got a long way to go until it becomes an attractive prospect to someone who wants a move-in-ready property. When he was still the owner, West took out all the doors, windows, and interior finishes. In the past year, Belmont has made some improvements, including redoing the roof and installing new plumbing and electrical systems. Still, Mazzella has his work cut out for him.
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