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It will be interesting to see what sale price the oceanfront property eventually commands—particularly because it sits cheek-to-jowl next to other homes, nearly all of which are worth a mere fraction of West’s $53 million sticker. But this home does benefit from its unique pedigree; it’s one of the few stateside residences ever designed by Ando, who has become one of the billionaire elite’s most sought-after architects. Both California properties are gone and going, respectively — that Hidden Hills house was recently sold at a six-figure loss, while the Malibu manor is now up for grabs at $53 million. Even in the unlikely event of a full-price offer, West stands to lose many millions of dollars on the property, once realtor fees and closing costs have been factored into the equation. And it’s not even clear if he ever spent a night at the house, which was completely gutted during his ownership.
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Ye employed the help of Selling Sunset star and real estate agent, Jason Oppenheim to sell the home. According to Forbes, shortly after Ye, formerly known as Kanye West, purchased the home, he began taking it apart. West had intended to redesign and update the 4,000-square-foot structure, but that was shortly before Adidas parted ways with the 46-year-old rapper due to his numerous antisemitic remarks, allegedly leaving his finances in disarray. Railings and metal trim pieces around the house have visibly rusted, likely beyond salvageability.
Kanye “Ye” West Gutted This Tadao Ando House. Now He Wants $53M for It
“It will take several million dollars for the house to be finished,” Selling Sunset star and listing agent Jason Oppenheim of the Oppenheim Group told The Wall Street Journal. The gutted estate, which the 46-year-old rapper bought for a whopping $57 million in 2021, doesn’t have much curbside appeal for any buyer right now because it’s a concrete shell of a structure. He originally put the property on the market for $53 million in January, willing to take that $4 million hit, but no one was biting at that price. Now, according to TMZ which has the before-and-after photos, West has drastically dropped the price by $14 million — his home could be yours for only $39 million, but it doesn’t have any walls or decor… or anything. But it remains unclear if West ever spent a night at the oceanfront home, which sits cheek-to-jowl between two other houses on surfer-friendly Malibu Road.
Home shares Beyoncé and Jay-Z's designer
Now, instead of renovating the four-bedroom beachfront house on Malibu Road, Ye has decided to sell it, with a price tag of $53 million (he’s listing it at a loss). Kanye “Ye” West, whose business empire suffered major repercussions amid the star’s ongoing antisemitic outbursts, is selling a Malibu property that he bought in late 2021 for $57.3 million in an off-market deal. Kanye West, now known as Ye, is selling a beachfront property in Malibu, California, for $53 million. According to The Wall Street Journal, the house lacks plumbing, electricity, windows, and doors.
By December 2023, things were so bad that Ye enlisted Jason Oppenheim, Selling Sunset's most aerodynamic salesman, to shift his Malibu mansion for a paltry $53 million, $4 million less than Ye paid for it. Now, both Ye and his 4,000 square foot Malibu home have rotted from the inside out. Kanye is being sued by the former project manager who was overseeing the remodel ... Ye originally listed the un-renovated home for $53 million, according to the Wall Street Journal. In 2023, a construction consultant on the home sued Ye over alleged dangerous working conditions and unpaid wages for the remodel. Here’s what went down with the rapper formerly known as Kanye West’s Malibu mansion.
What makes this particular sale so infuriating to architecture lovers is that this home was originally designed by the famous architect Tadao Ando. But if luxury home prices are on the rise, then why would Ye and listing agent Jason Oppenheim be willing to offer it at such a steep discount? Well, because the property is still largely unfinished after Ye committed to gutting the property just a few years ago. Indeed, “all interior finishes have been removed from the property, and work is needed to either restore or reimagine the interiors,” according to the Oppenheim Group listing.
Kanye West Is Now Facing an $18 Million Loss on His Tadao Ando-Designed Malibu House - Yahoo Singapore News
Kanye West Is Now Facing an $18 Million Loss on His Tadao Ando-Designed Malibu House.
Posted: Fri, 12 Apr 2024 07:00:00 GMT [source]
But he seems to be shifting away from real estate ownership—when he’s not out traveling the globe with “wife” Bianca Censori, he frequently bunks up for months at a time in some of L.A.’s most expensive hotels, including the oceanfront Nobu Ryokan. The lowest floor holds three ensuite guest bedrooms, while the middling level houses the public areas—the living room, kitchen and powder room. The top floor is exclusively reserved for the owner, with its penthouse-level bedroom suite and rooftop oceanside terrace overlooking the crashing waves far below. Photos of the interiors don’t appear to exist online, but the decor been described as minimalist “yet warm,” by Marmol Radziner, the L.A.-based architecture firm that built the house in collaboration with Ando.
Kanye West Just Bought a $57.3 Million Minimalist Malibu Villa by Tadao Ando
Ever since he first visited Naoshima, the Japanese “art island” designed by Pritzker Prize-winning architect Tadao Ando, Kanye West has been obsessed with the place. He’s been quoted describing the art as “life-changing” and once said he’d like to live inside a James Turrell sculpture, the sort of thing found on the island. And while that sort of lifestyle isn’t quite feasible, Kanye has done the second-best thing—he’s paid a whopping $57.3 million, in an off-market deal, for a Malibu residence that’s part house, part sculpture. The place is also one of only a handful of Ando-designed homes in the United States.
Sachs, a financier and ex of Ashley Olsen, purchased the property in 2003 for the much lower price of $1.9 million, and radically transformed the place during his near 20 years of residency. Designed by Pritzker Prize-winning Tadao Ando, the house features a concrete exterior in keeping with the acclaimed architect’s streamlined brutalist ethos. In the couple of dozen months that Ye has owned the property, the music performer and designer removed the home’s interiors, leaving it essentially gutted.
Ye bought the property just three years ago for $57.25 million, according to Los Angeles County property records, with the intention of gutting and redesigning the property. He also designed a Malibu beachfront home for soap-opera heir William Bell Jr. and his wife Maria; Beyoncé and Jay-Z purchased that home in 2023 for a whopping $200 million, a transaction that shattered California price records. "Selling Sunset" star Jason Oppenheim is exclusively listing the property for $53 million. The real estate broker said the new price reflects the property's value after the rapper removed the home's interiors. Four months ago, Kanye West put his infamously wrecked Malibu house on the market, asking a steep $53 million. This week, the price tag was slashed all the way down to $39 million by the home’s listing agent, Selling Sunset star Jason Oppenheim.
"One of the reasons that I own the Oppenheim Group and work with my best friends and sell luxury real estate is because I absolutely love that," Oppenheim added. "It makes me really, really happy and I place happiness over the bottom line. And I will, forever." The Oppenheim Group founder says it’s a privilege to sell a home from the renowned architect, who’s designed fewer than 20 homes in the U.S. While the rapper paid $57 million for the property, which features views of the Pacific Ocean from every room, it’s now on the market for slightly less, asking $53 million.
Built in 2013, the home is finished in Ando’s signature concrete and required 1,200 tons of the building material, 200 tons of steel, and 12 pylons anchored more than 60 feet deep to complete. The three-story concrete frame is complemented by 1,500 square feet of deck space and stairs that lead straight to the beach. Wide, straight-angled doorways and windows face the ocean where the home’s four bedrooms used to be. Oppenheim described the house as a blank canvas and said that the house’s architectural integrity and value are still there. Ye (the artist formerly known as Kanye West) seems anxious to be rid of his Malibu, California, mansion, a house that’s inarguably the most minimal of all minimalist properties.
But it doesn’t look anything like that today—aerial imagery shows most all of the walls and doors are now gone, and the interior finishes have likely made their way to a landfill. Oppenheim told the Wall Street Journal that a buyer will need to spend “several million dollars” just to make the house livable. Sold by retired Wall Street financier Richard Sachs, best known as the ex-boyfriend of Ashley Olson, the Malibu property last transferred for just $1.9 million in 2003.
“When I was growing up in Chicago, before the internet, I’d go to my local Barnes & Noble to check out Architectural Digest and other design magazines,” Kanye told AD during a home tour in 2020. He always had graph paper around for me to scribble on.” The rapper and designer also owns a ranch property in Wyoming, a condo in Calabasas, and two condos in New York. Since then, the property has sat empty as West began to completely gut the home in a bid to start afresh.
Just two years ago, Kanye West was still flying high on the success of his billion-dollar Yeezy sneaker brand. He bought two separate Wyoming ranches, including one that spanned more than 3,000 acres. The money seemed endless; he also shelled out $57 million, in cash, for an oceanfront Malibu house designed by famed Japanese architect Tadao Ando. And in the midst of his acrimonious divorce from Kim Kardashian, he bought a house directly across the street from her Hidden Hills residence, just because. The nearly 4,000-square-foot house was initially offered at an outrageous $75 million last year, before being removed from the market. But the discounted sale price is also the second-highest number paid for a Malibu home this year, behind only an $87 million transaction that recorded in February.
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