Kanye West is ready to “Runaway” from his disaster project in Malibu … the gutted mansion now belongs to a new owner, who got a pretty solid deal for the rare property.
Belwood Investments, a “real estate crowdfunding firm” based in California, has scooped up the controversial estate for around $21 million … the company stated in a press release.
Roger Davies/The Oppenheim Group
Ye notably nabbed the Tadao Ando-designed home for $57.3 million in 2021 … and then infamously stripped the manse down to its bare bones — reportedly to transform it into a bomb shelter.
But, the rapper seemingly got sick of the project and listed the home for the whopping price tag of $53 million.
Unfortunately for Ye, no one was eager to take on the stripped-down abode at that hefty price point … prompting the hitmaker and his realtor, “Selling Sunset” starJason Oppenheim, to cut $14 million from the OG asking price.
Crisnet
Looks like Ye’s camp was eventually able to find a buyer … but needed to slash the price again, making it quite a deal for Belwood.
Jean-Baptiste Rugiero and Mehdi Maamri from The Agency represented Belwood Investment in the deal, which we are told is closing on September 3.
The company’s CEO, Bo Belmont, already has big plans for the mansion … announcing an additional $5 million investment into the property in an attempt to restore it to the legendary Japanese architect’s vision.
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Belmont noted … “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, ensuring it remains a jewel of Malibu.”
Here’s hoping $5M will do the trick … because it’s giving money pit, TBH.
