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Kanye West's gutted Malibu mansion designed by iconic architect Tadao Ando's new owner revealed
The Malibu mansion that Kanye West famously stripped down with the goal of making it a bomb shelter - has sold for approximately $21 million, with the new owner finally revealed.
Belwood Investments purchased the property, according to TMZ, after the rapper initially had the home on sale for $53 million.
The outlet reported that the company's CEO Bo Belmont revealed in a press release that they plan to invest $5 million into the home to attempt to restore it the original vision of Tadao Ando - who originally designed the home prior to Kanye's demolition.
In July, it was reported that the home was purchased - but the owner and the price was not yet known.
The Malibu mansion that Kanye West famously stripped down with the goal of making it a bomb shelter - has sold for approximately $21 million, with the new owner finally revealed
Belwood Investments purchased the property, according to TMZ, after the rapper initially had the home on sale for $53 million
'This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu, Bo said in the press statement via TMZ.
Kanye - who is married to Bianca Censori - had purchased the home designed by the iconic architect in 2021 for $57.3 million - but in June, shocking photos showed the beachfront home completely gutted with no windows.
He had stripped it of plumbing and electricity, with all the windows and doors removed.
The rapper put the home on the market for $53 million, reducing it by $14 million to $39 million in April.
Kanye enlisted the help of real estate agent Jason Oppenheim.
Oppenheim told TMZ that he was optimistic at the chances of selling the distressed property in the high-end area, likening the abode to 'basically a blank canvas' for prospective purchasers.
Kanye had purchased the home designed by the iconic architect in 2021 for $57.3 million - but in June, shocking photos showed the beachfront home completely gutted with no windows
He had stripped it of plumbing and electricity, with all the windows and doors removed
Per the outlet, the deal will close on September 3.
The home was built in 2013 and features four bedrooms and five bathrooms.
One of the workers that had been hired to help gut the abode told The New Yorker in June that West had wanted to create a 'bomb shelter' and his 'Batcave.'
Kulapat Yantrasat - an architect - also told the publication, 'To be honest, he did not like the house - he did not like the interior.'
The Carnival artist, who bought the home for $57 million in late 2021, was previously unable to remodel it into a 'bomb shelter' after getting famed Japanese architect Tadao Ando involved in the remodeling process.
The price reduction is the latest in a number of headaches linked to the home in the upscale Southern California beach town.
West was also sued by the former manager of the remodel project, Tony Saxon, who claims he was fired after he 'expressed concerns about the extreme danger' of the project.
In September 2023, sources told TMZ that West wanted to remove the windows and electricity from the home in order to turn it into 'a bomb shelter from the 1910s.'
In Saxon's lawsuit, filed in Los Angeles County Superior Court, he stated that he was hired for the project in September 2021, and worked 16-hour days on the beach house.
He claimed he was sleeping on the floor of the home as he worked as 'project manager, caretaker and 24/7 security' for the property.
Saxon alleged that West only paid him for one week of work and ignored all his concerns, until finally he was fired in November 2021, after refusing to remove the home's windows and electricity.
In September 2023, sources told TMZ that West wanted to remove the windows and electricity from the home in order to turn it into 'a bomb shelter from the 1910s'
In the lawsuit, Saxon said the rapper's vision for the home was to make something like 'a bomb shelter from the 1910s', according to NBC News, and demolish the marble bathrooms, as well as remove the windows, plumbing and electricity.
He also reportedly wanted to replace the stairs with slides.
Saxon reportedly sued West for a number of labor code violations, more than $1 million in unpaid wages, and damages.
'We were going to be gutting all of that out and sort of building him a Bat Cave,' Saxon explained, adding the rapper wanted a place he could 'hide from the Clintons in and the Kardashians in.'
While Saxon believed the home was more of an 'art project' he later came to realize West actually wanted to live in it.
He said West 'wanted no electricity. He only wanted plants. He only wanted candles. He only wanted battery lights. And he just wanted to have everything open and dark.'
West notably owns other properties - such as an abandoned $2.2M sprawling Calabasas ranch.
Back in May, the home appeared dilapidated and crumbling in shocking new photos of the expansive property - nearly four years after rapper boarded up the home in September 2020.
Kanye initially purchased the residence in 2018, and was used for Sunday Service and his Donda Academy headquarters.
The star had also purchased an additional 300 acres surrounding the property for $4 million.
He said West 'wanted no electricity. He only wanted plants. He only wanted candles. He only wanted battery lights. And he just wanted to have everything open and dark'
Kanye pictured with his wife Bianca Censori in May 2023 in LA
Images revealed that the home is still uninhabited and in disrepair, with one picture showing a large, gaping hole at the front entrance, leaving debris and pieces of the roof scattered on the ground.
A circular patch outside of the home was bordered by a fencing that has also begun to fall apart - and appeared to be the location of one Ye's domes that he had built.
The Yeezy Home dome shelters had been constructed in an attempt to help with homelessness in the Los Angeles area.
Kanye bought the ranch when he was still married to now ex-wife, Kim Kardashian, with their divorce officially being finalized back in November 2022.