Kanye West, now officially known as Ye, has made headlines once again by selling his infamous Malibu mansion. This architectural marvel, designed by the esteemed Tadao Ando, has changed hands for approximately $21 million. The sale marks the end of Ye's tumultuous ownership, which saw the property undergo drastic renovations, leaving it in a state of disrepair.
Originally purchased by Ye for a staggering $57.3 million in 2021, the Malibu mansion was intended to be a serene escape. However, Ye's vision for the property took a dramatic turn when he decided to convert it into a bomb shelter. This ambitious project left the mansion stripped down and uninhabitable, which significantly impacted its market value. With the initial listing price set at $53 million, the property struggled to attract potential buyers, prompting Ye to reduce the price drastically.
After months on the market, the mansion finally found a buyer in Belwood Investments. The sale was facilitated by Belwood's CEO, Bo Belmont, who plans to invest an additional $5 million to restore the mansion to its original architectural glory. Belmont emphasized the importance of preserving the unique design of the property, which is a significant part of Malibu's architectural heritage. The deal is set to close on September 3, marking the conclusion of Ye's ownership of the estate.
Belwood Investments is committed to restoring the mansion to its former splendor. The renovation plans include addressing the extensive damage from the previous renovations and ensuring the property meets the highest standards of luxury living. Belmont aims to preserve the vision of Tadao Ando while making the mansion a modern masterpiece. This restoration project will not only enhance the property's value but also contribute to the architectural beauty of Malibu.
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