Kanye West Prepared To Lose $14 Million After Reducing Malibu Mansion Asking Price Amid Money Proble

Highlights

• Kanye West faced financial distress despite successful sales, leading to drastic Malibu mansion price drop.
• Property dropped from $53M to $39M due to necessary renovations and lack of interest at high asking price.
• Architectural gem designed by Tadao Ando with celebrity owners, minimal interiors allow architecture to shine.

Kanye West has been going through alleged financial problems for over a year. Even the rapper admitted he was headed for bankruptcy before his successful low-budget commercial apparently resulted in over $19 million sales for his Yeezy brand.

While he’s in the middle of a career comeback, Kanye may still be experiencing financial distress, as evidenced by the huge cut he made in the asking price of his gutted Malibu mansion.

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According to information obtained by TMZ, the property was originally listed at a hefty $53 million back in January, but it’s now plummeted to $39 million this week, marking a staggering $14 million reduction.

The sharp decline in price may not come as a complete surprise to some, given the notable state of the property. With its lacking walls and overall uninhabitable appearance, substantial renovations are necessary for any potential buyer. Such extensive refurbishments are anticipated to come with a hefty price tag, so there may have been little interest in the mansion given how much Ye was first seeking.

Kanye West has been actively attempting to sell this luxurious estate since December. In his endeavors to offload the property, he even sought the assistance of Selling Sunset personality Jason Oppenheimer.

“I wanted to have a listing with such architectural pedigree,” Oppenheimer said of being brought on to sell Kanye’s home, adding it’s in “one of the most desirable areas in the world.”

“This architect is known for his concrete work, which is what remains,” the real estate mogul continued. “So it’s really going to be up to the new buyer to imagine the interiors that he or she wants. It was a very minimalist interior previously and will likely continue to be that in order to allow the architecture to speak louder than the finishes.”

The waterfront mansion boasts an expansive 4,000 square feet of interior living space, complemented by an additional 1,500 square feet of usable outdoor areas. Its architectural brilliance stems from the vision of Tadao Ando, a distinguished Japanese architect honored with the prestigious Pritzker Prize.

Notably, Ando has only crafted fewer than 20 residential masterpieces in the United States. Among the esteemed owners of his coveted designs are none other than Beyoncé and Jay-Z themselves.

This isn’t the first time Kanye has recently lost money in a real estate transaction. Last year, he was out six figures after selling the home he bought across the street from Kim Kardashian before their divorce was finalized.

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