Kanye West's Tadao Ando-designed Malibu house sells at a $36 million loss

Kanye West has sold his Tadao Ando-designed Malibu house for $21 million, resulting in a staggering $36 million loss. West originally purchased the oceanfront property in 2021 for $57.3 million. However, after stripping the house of its windows, doors, and interior finishes, he placed it back on the market in January 2024 for $53 million. Despite the significant markdown, the property languished until Belwood Investments, a California-based real estate crowdfunding firm, agreed to buy it at the heavily discounted price.

Belwood Investments plans to invest an additional $5 million to restore the house to its original design, with hopes of reselling it for around $40 million. Belwood founder Steven “Bo” Belmont expressed excitement about preserving the architectural gem, which was originally designed by the renowned Japanese architect Tadao Ando in collaboration with Marmol Radziner.

The house, a 4,000-square-foot Brutalist structure, was initially built for financier Richard Sachs and completed in 2013. Despite its current state of disrepair, it remains one of only a few U.S. buildings designed by Ando, whose works are highly sought after among the ultra-wealthy.

This sale marks a shift in West's real estate holdings, as his other properties, including his Calabasas estate, have fallen into neglect. West, who remains a successful musician and producer, now spends much of his time traveling and staying in luxury hotels like the Chateau Marmont and Nobu Ryokan in Malibu.