The Malibu mansion that Kanye West demolished to turn into a bomb shelter has sold for an estimated $21 million, and the new owner has finally been revealed.
Belwood Investments purchased the property, according to TMZafter the rapper initially listed the home for $53 million.
The outlet reported that the company’s CEO, Bo Belmont, revealed in a press release that they plan to invest $5 million in the home to try to restore the original vision of Tadao Ando, who originally designed the home before Kanye’s demolition.
In July it was reported that the house had been purchased, but the owner and price were still unknown.
The Malibu mansion that Kanye West demolished to turn into a bomb shelter has sold for an estimated $21 million, and the new owner has finally been revealed.
Belwood Investments purchased the property, according to TMZ, after the rapper initially listed the home for $53 million.
“This is not only 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 Malibu gem,” Bo said in the press release via TMZ.
Kanye had purchased the home designed by the iconic architect in 2021 for $57.3 million, but in June, shocking photos showed the beachfront home completely destroyed and without windows.
He had removed the plumbing and electricity, and taken out all the windows and doors.
The rapper listed the home for $53 million, reducing the price by $14 million to $39 million in April.
Kanye enlisted the help of real estate agent Jason Oppenheim.
Oppenheim said TMZ who was optimistic about the prospects of selling the distressed property in the upmarket area, likening the home to “basically a blank canvas” for potential buyers.
Kanye had purchased the home designed by the iconic architect in 2021 for $57.3 million, but in June, shocking photos showed the beachfront home completely gutted and windowless.
He had removed the plumbing and electricity, and taken out all the windows and doors.
According to the outlet, the deal will close on September 3.
The house was built in 2013 and has four bedrooms and five bathrooms.
One of the workers who had been hired to help gut the dwelling said: The New Yorker In June, West had wanted to create a “bomb shelter” and his “Batcave.”
Kulapat Yantrasat, an architect, also told the publication: “To be honest, he didn’t like the house; he didn’t like the interior.”
The Carnival artist, who purchased the home for $57 million in late 2021, was unable to remodel it into a “bomb shelter” after involving famed Japanese architect Tadao Ando in the renovation process.
The price reduction is the latest in a series of headaches involving the home in the exclusive Southern California beach town.
West was also sued by former project manager Tony Saxon, who claims he was fired after “expressing concerns about the extreme danger” of the project.
In September 2023, sources said TMZ that West wanted to remove the house’s windows and electricity to turn it into “a 1910s air raid shelter.”
In Saxon’s lawsuit, filed in Los Angeles County Superior Court, he stated that he was hired for the project in September 2021 and worked 16-hour days at the beach house.
He claimed he slept on the floor of the house because he worked as a “project manager, janitor and 24/7 security” for the property.
Saxon alleged that West only paid him for a week’s work and ignored all of his concerns, until he was eventually fired in November 2021 after refusing to remove the home’s windows and electricity.
In September 2023, sources told TMZ that West wanted to remove the windows and electricity from the home to turn it into “a 1910s bomb shelter.”
In the lawsuit, Saxon said the rapper’s vision for the house was to make something like “a 1910s bomb shelter,” according to NBC Newsand demolish the marble bathrooms, as well as remove windows, plumbing and electricity.
It is also said that he wanted to replace the stairs with slides.
Saxon is reportedly suing West for a series of labor code violations, more than $1 million in unpaid wages and damages.
“We were going to gut all of that and build him some kind of Batcave,” Saxon explained, adding that the rapper wanted a place where he could “hide from the Clintons and the Kardashians.”
Although Saxon believed the house was more of an “art project,” she later realized that West actually wanted to live in it.
He said West “didn’t want electricity. He just wanted plants. He just wanted candles. He just wanted battery-operated lights. And he just wanted everything open and dark.”
