Last year Kanye West listed his $57 million Malibu beachfront mansion at a $4 million loss, after starting a major renovation that he later abandoned, having never moved into the house [click here if you missed that].
Now Ye has slashed another $14 million off the price after being unable to find a buyer...
From The Sun
Kanye West reduces Malibu mansion price by $14m as gutted beach home ‘won’t sell’ after months of failed renovations.
The rap music star purchased the home in 2021 for $57million and had major renovation plans for the property.
Instead of paying the $53million that the Vultures hitmaker asked for, anyone looking to purchase his former humble abode will now be paying $39million.
The home has four bedrooms, five bathrooms, outdoor decks, and a full view of the ocean.
Kanye originally had the idea to turn it into his dream home for his four children he shares with ex, Kim Kardashian, 43: North, 10, Saint, eight, Chicago, six, and Psalm, four.
When renovations started, the music star completely gutted the interior and ended up scrapping the project before it started.
Now, the home lacks many livable components including doors and walls.
When he put the home up for sale, he hired Selling Sunset star realtor Jason Oppenheim in hopes he would get the job done.
However, no one has put their bid in.
In September 2023, Kanye was hit with a harsh lawsuit from an ex-employee who looked after the home.
In documents obtained by The U.S. Sun, Kanye's former project manager Tony Saxton went to court in Los Angeles, California to file.
He made several claims in his lawsuit including harsh working conditions, breaking several multiple labor code violations, and wrongful retaliatory termination.
Tony alleged that Kanye had yet to pay him for his work and that he owes him $1million.
In January, The Hollywood Reporter reported that Tony's lawyer, Ron Zambrano, filed a mechanics lein.
A mechanics lein occurs when a person fails to pay their employees and can result in the forclosure of the property.
Some of the money used to repurchase the property will go to the workers so they are paid properly.
5 comments:
Sell it for One Dollar, 1 $ and move on.
He tore that house up. Then it’s sitting with the interior all exposed and taking on damage…he’ll be lucky to get anything for it.
He could have built a small conceer venue for that kind of money. That way he wouldn't have to worry about being banned and barred from having shows at other people's venues. Misplaced opportunities and priorities.
He's a horrible person who makes consistently horrible business decisions and then blames it on everyone else. I hope he keeps going broke
He can't manage his money. 9ne financial disaster after another.
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