Kanye West is able to “Runaway” from his catastrophe venture in Malibu … the gutted mansion now belongs to a brand new proprietor, who acquired a reasonably stable deal for the uncommon property.
Belwood Investments, a “real estate crowdfunding firm” based mostly in California, has scooped up the controversial property for round $21 million … the corporate acknowledged in a press launch.
Ye notably nabbed the Tadao Ando-designed residence for $57.3 million in 2021 … after which infamously stripped the manse right down to its naked bones — reportedly to rework it right into a bomb shelter.
However, the rapper seemingly acquired sick of the venture and listed the house for the whopping price ticket of $53 million.
Sadly for Ye, nobody was desperate to tackle the stripped-down abode at that hefty value level … prompting the hitmaker and his realtor, “Selling Sunset” star Jason Oppenheim, to lower $14 million from the OG asking value.
Appears like Ye’s camp was finally capable of finding a purchaser … however wanted to slash the worth once more, making it fairly a deal for Belwood. Belwood Investments tells TMZ the deal is closing on September 3.
The corporate’s CEO, Bo Belmont, already has massive plans for the mansion … saying a further $5 million funding into the property in an try to revive it to the legendary Japanese architect’s imaginative and prescient.
Belmont famous … “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 is hoping $5M will do the trick … as a result of it is giving cash pit, TBH.
