Those familiar with Ye (formerly Kanye West), are well aware of his penchant for the constant expansion of his real estate holdings. Since achieving significant success, the Atlanta native has owned several grandiose properties, reflecting his embrace of a luxurious lifestyle after living a substantial part of his life in a modest Chicago abode. However, in 2024, he saw some of his high-profile properties falter financially, including the uncertain sale of his Wyoming Ranch and the listing of his $53 million Malibu mansion, which had begun to deteriorate.

Despite the uncertainty surrounding the $14 million purchase of Monster Lake Ranch, recent reports confirm the sale of the beachside Malibu mansion, with additional details about the buyer now available.

Ye purchased the Tadao-Ando-designed Malibu mansion for $57.3 million in 2021, with plans to turn it into a stunning residence. However, after stripping it to its bare bones, he eventually listed the property for $53 million, followed by another $14 million slash. Ye's team ultimately managed to find a buyer, as TMZ recently reported that Belwood Investments, a California-based real estate crowdfunding firm, acquired the controversial and gutted estate for approximately $21 million.

Even with the need to reduce the price further, Belwood ended up with a significant bargain. Jean Baptiste Rugiero and Mehdi Maamri from The Agency represented Belwood Investment in the transaction, which is expected to close on September 3. The company’s CEO, Bo Belmont, reportedly has ambitious plans for the mansion, intending to invest an additional $5 million to restore the property to align with the original vision of the legendary Japanese architect.

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With Belmont’s aim to uphold the legacy of Tadao Ando, here is what he had to say about the additional investment he intends to make.

In the company's press release obtained by TMZ, Bo Belmont, CEO of Belwood Investment, described the purchase of Ye’s Malibu mansion as “an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu.” However, the listing notes the property lacks interior finishes, making the restoration rather challenging.

Recent images of the property show that Ye’s ambitious renovation project has left behind little more than a bare concrete shell, with floor-to-ceiling windows also removed. Reports indicate that even plumbing and electricity have been stripped out. While it is uncertain whether Tadao Ando himself will be brought in to restore his original vision, the listing's claim that the property still reflects the architect’s signature style suggests that it would not be surprising if he were involved.

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What do you think about the new buyer of Ye's $53 million gutted Malibu mansion? Let us know in the comments below!