Just four months ago, Kanye West decided to put his infamous Malibu residence on the market, originally listing it for a hefty $53 million. Unsurprisingly, there were no immediate takers. However, this week, the home’s listing agent, Selling Sunset star Jason Oppenheim, made a significant reduction, slashing the price all the way down to $39 million.
Remarkably, this current asking price is a staggering $18 million less than what West himself paid for the property less than three years ago, back in September 2021. The renowned music mogul and Yeezy fashion designer made a cash purchase of $57.3 million for the 4,000 square foot abode, which was constructed around 2013 and designed by the acclaimed Pritzker Prize-winning Japanese architect Tadao Ando.
It remains unclear whether West ever spent a night at the oceanfront property, situated closely between two neighboring houses on the surfer-friendly Malibu Road. Shortly after acquiring it, West began extensive renovations, completely dismantling the structure by removing all windows, doors, and interior finishes. What was once a four-bedroom, five-bathroom house now stands as an empty and uninhabitable concrete shell, with its interiors fully exposed to the harsh coastal elements.
Despite the substantial price reduction, prospective buyers should be cautioned that the property will require extensive renovations, likely spanning many months and costing millions of dollars. Furthermore, the current asking price of $39 million, while significantly reduced, remains lofty compared to other homes in the area, which typically fetch around $20 million for newly constructed or recently renovated residences along the same stretch of beach.
Nevertheless, these neighboring properties lack the prestigious Tadao Ando pedigree that distinguishes West’s Brutalist architectural masterpiece. Ando, an 82-year-old architect dubbed “Hollywood’s favorite starchitect,” is renowned for his sought-after designs, which are highly coveted among the ultra-wealthy elite.
Notably, last year, Jay-Z and Beyoncé made headlines when they purchased a different—and notably larger—Malibu estate designed by Ando for a staggering $190 million, setting a record for the highest price ever paid for a California home. Additionally, Kim Kardashian has plans to construct an extravagant vacation home designed by Ando near Palm Springs. In 2021, Slack co-founder Stewart Butterfield and his wife Jen Rubio splurged $40 million to acquire a ranch in New Mexico, also designed by Ando.
It appears that West, despite maintaining his status as one of the world’s most successful record producers and best-selling musicians, is shifting his focus away from real estate ownership. When not traveling the globe with his wife, Bianca Censori, he often lodges for extended periods in some of Los Angeles’s most luxurious hotels, including the prestigious oceanfront Nobu Ryokan.
