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Kanye West has finally found a buyer for his Malibu mansion after a lengthy period on the market. The rapper's estate, which he purchased for $57 million in December 2021, has been sold following a substantial price reduction.
West's Malibu property, a 4,000-square-foot home with four bedrooms and five bathrooms, faced significant challenges during its renovation. Originally intended to be a vision of West’s artistic aspirations, the house was gutted, leaving it less valuable and unlivable by the time it was listed for sale.
Enlisting the help of "Selling Sunset" realtor Jason Oppenheim, West pitched the estate as an "open canvas" for adventurous buyers. This pitch was ironically fitting, as West’s extensive remodeling had left the mansion in a state of disrepair. Despite an initial asking price of $53 million, the rapper had to slash the price by $14 million to $39 million due to the incomplete state of the home.
The exact sale price remains undisclosed, but sources suggest West may have settled for an amount even lower than his revised asking price. The renovation project, led by Tony Saxon, was described in a June New Yorker profile as a dramatic misstep. Saxon lamented the outcome, stating, "I pretty much destroyed this architectural masterpiece."
As Kanye West moves on from this real estate venture, all eyes will be on whether his next project fares better in execution and value.
