Kanye West finally finds buyer for $39m Malibu mansion after he reduced gutted home’s price by $14m

KANYE West has finally sold his Malibu mansion after it sat on the market for more than six months.

The rapper dropped the price by almost $15 million after it wasn’t selling.

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Kanye , 47, first listed his beachfront home for sale in December 2023.

It was gutted and abandoned and sits in escrow, according to The Hollywood Reporter .

The mansion was originally listed for $53 million but dropped to $39 million in April.

Kayne purchased the California mansion in 2021 for $53.7 million.

He then hired someone to gut the interior of the house, and this would cost the new owner millions of dollars to replace everything.

“What’s missing are the interiors,” Jason Oppenheim, real estate broker, told the outlet.

“It’s priced to reflect the need for the interior finishes to be replaced. On the positive, it can be brought up to 2024 standards — it was built about 10 years ago.”

However, the vision of the designer’s work can still be seen in the gutted interior.

“The architectural integrity of Tadao Ando’s work exists today. He’s largely known for his concrete work and the significant cost of this house is in the concrete work,” Jason said.

OTHER OBSTACLES

The mansion faced other obstacles before it was put up for sale.

Kanye was sued by contractor Tony Saxon, who gutted the home for the rapper.

Tony claimed that Kanye owed him more than $1 million for his work, among other allegations.

However, The Wall Street Journal reported that the rapper denied the claims.

In January, Ron Zambrano, a partner at the West Coast Employment Lawyers, filed a mechanics lien on the property.

Kanye West's homes

Kanye West owns multiple homes across California and Wyoming, two of which have fallen into disrepair.

$53 million Malibu beach house

$6.2 million Calabasas mansion

$11 million Wyoming ranch property

“We just want to make sure he has enough money to pay the more than $1 million he still owes our client before he goes completely broke,” Ron told THR.

“So in this case, if someone wants to buy Kanye’s Malibu home, they’ll have to deal with us first. That sale cannot happen without Tony being paid.”

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ABOUT THE HOUSE

Before being gutted, the Malibu home had four bedrooms with views of the Pacific Ocean from every room.

It is about 4,000 square feet in size and has about 1,500 square feet of exterior deck space.

The house is lined up closely against other properties along the beach.

Each property has a garage on the bottom.

Now, the mansion is just two stories of gray concrete.

YE’S HAD IT

The news first came out that Kanye was selling his mansion in January 2024.

Kanye’s reason for selling was that the walls were too gray for his liking.

After making the home his, the Chicago native had walls, doors, windows, and plumbing torn out of the home.

So, instead of renovating, he decided to sell it, according to The Daily Mail Online .

The home was purchased prior to his marriage to Bianca Censori .

According to an insider for the publication, Kim Kardashian ‘s ex has took $4million off the price he paid, claiming that the concrete walls are too cold and gray.

“Ye prefers Earth tones, muddy colors from silt to loam but never too cold and nothing visually draining like a clay,” the source said.

“Architects and designers working for Ye have in the past been dispatched to collect soil samples from the UK, France, and elsewhere as color references for his iconic looks.

“Unfortunately, the concrete settled into more of a cadet gray and he was hoping for a warmer tone, more of a dovetail gray or coachman’s cape,” they went on.

The insider said that Kanye would only visit the house at sunrise and sunset “when he said the color didn’t irritate him so much.”

Eventually, he stopped going altogether,” they ended.

The house was originally built in 2013 for Richard Sachs.

The Mega Agency

The Mega Agency

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The Mega Agency