Kanye West puts his Malibu house for sale at a loss of $53 million? Here's what we know

Rapper and provocateur Kanye West, also kwn as Ye, has recently put up his Malibu residence which is a Tadao Ando-designed marvel for sale. As reported by Wall Street Journal. Acquired just two years ago for $57.25 million, property is w listed for $53 million, signalling a surprising decrease in value.

Reportedly, Kanye embarked on a significant revation project after purchasing property in 2021, opting for a gut revation that, as of w, remains incomplete. This type of overhaul involves stripping a structure down to its fundamental framework and redesigning it entirely, which includes revamping layouts and essential systems like electrical, plumbing, and HVAC.

Kanye West lists Malibu house for sale

Jason Oppenheim, listing nt from Oppenheim Group, highlighted extensive work required to complete property. He emphasized that finishing 4,000-square-foot house would demand substantial investments in essentials like windows, doors, interior finishes, and critical systems such as plumbing and HVAC.

Describing current state of house as a "blank canvas," Oppenheim ted that despite incomplete revation, property still retains considerable architectural value from its original design. However, details surrounding West's decision to sell property remain undisclosed.

Previously crafted by table Wall Street figure Richard Sachs over seven years, three-story residence boasts four bedrooms, expansive waterfront views through large windows, and an additional 1,500 square feet of deck . Sachs initially listed property for $75 million in 2020 before Kanye's acquisition.

Kanye faced legal trouble

However, Kanye West faced legal trouble related to this property in September. A contractor, who doubled as a live-in caretaker for mansion, filed a lawsuit alleging gruelling work conditions, including 16-hour workdays and substandard living conditions. lawsuit detailed contractor's dismissal after refusing to replace electrical system with large generators, citing fire safety concerns. Kanye refuted se allegations.

sale of this prestigious property, amid ongoing revation complexities and legal disputes, underscores Kanye West's foray into real estate and challenges encountered during his ambitious revation endeavours.