Kanye West sells gutted Malibu mansion for $39 million after $57 million purchase

Kanye West's Malibu home, gutted and devalued, finds a buyer after a price cut.

Kanye West's reputation for unpredictable decisions has hit a new low with his Malibu estate. 

Known for his visionary but often abandoned projects, West has now applied a similarly erratic approach to his home renovation. 

After purchasing the property for $57 million in December 2021, West gutted the 4,000-square-foot mansion, only to find it less valuable by the time he sold it.

On July 25, Kanye West's Malibu estate entered escrow following a lengthy market presence. Reality TV star Jason Oppenheim, known for his role on "Selling Sunset," successfully found a buyer. 

Oppenheim pitched the estate as an "open canvas," ironically reflecting West's original renovation intent. 

The mansion, featuring four bedrooms and five bathrooms, was reduced in price from an initial asking of $53 million to $39 million due to its current unlivable condition. 

The final sale price remains undisclosed, with reports suggesting it could be even lower.

The estate's transformation was detailed in a June New Yorker profile, where architect Tony Saxon revealed that the renovation project, led by West, ended up devaluing the property. 

“It’s funny,” Saxon said. “And not funny, in a way, to say, 'I’m the man who single-handedly destroyed this architectural masterpiece.' But I pretty much did... It’s always an adventure.” 

The hope is that the new owner will have better luck with the property's potential.