Kanye West’s Malibu Property Finds New Buyer as Plans for Bomb Shelter Shift
Kanye West’s ambitious Malibu property, which was once slated to include a high-end bomb shelter, is set to change hands. The rapper and fashion mogul, known for his bold ideas, originally purchased the beachfront estate in 2021 for a hefty $57.3 million. His vision for the property included a state-of-the-art bomb shelter, but the project faced delays and the property was eventually listed for sale.
Despite an initial asking price of $53 million, Kanye eventually reduced the price to $39 million in April. Even with the reduced price, the gutted property struggled to attract buyers until recently. TMZ reports that Kanye has now found a buyer willing to pay around $21 million for the Malibu estate, with the sale expected to finalize on September 3.
The buyer, identified as the California-based real estate crowdfunding firm Belwood Investments, led by CEO Bo Belmont, has big plans for the property. Belmont has expressed his intention to restore the estate to its original architectural vision, designed by the acclaimed Japanese architect Tadao Ando. He is prepared to invest an additional $5 million to preserve and enhance the unique design of the property.
Belmont describes the acquisition as a “phenomenal real estate investment” and sees it as an opportunity to maintain a “jewel of Malibu.” With these plans in place, the property is poised to become a standout piece in the Malibu real estate market once more.
