Kanye West Sells Malibu Mansion at Loss

Kanye West has sold his Malibu mansion for $21 million, incurring a staggering loss of nearly $36 million from his original purchase price of $57.3 million in 2021. The property, which he gutted in an attempt to transform it into a bomb shelter, remained uninhabitable and unsold despite several price drops, falling from an initial listing of $53 million to $39 million before the sale. Belwood Investments, a California-based real estate crowdfunding firm, is the buyer and plans to invest an additional $5 million to restore the house designed by renowned architect Tadao Ando. The mansion, completed in 2013, features a significant amount of concrete and lacks basic amenities like running water and electricity, following West's controversial renovations. This sale comes amid reports of lawsuits related to unsafe working conditions during the renovations. Overall, the transaction highlights West's tumultuous relationship with the property market and his extravagant design ambitions.