Jason Oppenheim with The Oppenheim Group represented the seller. Jean-Baptiste Rugiero with The Agency represented the buyer. The post Buyer Closes on Kanye West's Gutted Malibu Mansion for $21M—and Says the Star's Moves Were 'Dumb' appeared first on Real Estate News & Insights | realtor.com®.

Kanye West ’s changes to a Tadao Ando-designed mansion in Malibu have been called “dumb” by the property’s new owner.

Kanye West’s creative alterations he made to his Malibu mansion he was forced to sell at a loss has been slammed by the new owner. The rapper snapped up the Tadao Ando-designed real estate property three years ago,

Kanye West's ill-fated foray into high-end Malibu, Calif., real estate has left jaws dropping and wallets significantly lighter.

The new owner of Kanye West's Malibu beachfront mansion's goal is to 'make it as though Kanye was never there'.

Bo Belmont, CEO of California-based real estate crowdfunding firm Belwood Investments, has been revealed as the new owner of West’s gutted Malibu manse, which was built by Pritzker Prize-winning architect Ando for art collector and financier Richard Sachs in 2013.

Belwood Investments has taken charge of Kanye West's Malibu mansion, aiming to restore it and sell for $40 million after West sold it at a $36 million loss.

Belmont said that he has gone through the house and that its structure is not too damaged. The changes Ye made were “mostly cosmetic.” His biggest gripe is with the “No More Parties In L.A.” rapper’s removal of the glazing of the floors.

The investor who recently purchased Kanye West's Malibu beachfront mansion previously went to prison for a violent crime. Steven 'Bo' Belmont, who runs Belwood Investments, recently purchased the controversial property for $21 million; just a fraction of staggering $53 million price it was listed for in December 2023.

The post Buyer of Kanye West's Gutted Malibu Mansion Revealed—as Rapper Takes Staggering $36 Million Loss on the Property appeared first on Real Estate News & Insights | realtor.com®.