Kanye West is ready to “Runaway” from his disaster project in Malibu … the gutted mansion now belongs to a new owner, who got a pretty solid deal for the rare property.
Belwood Investments, a “real estate crowdfunding firm” based in California, has scooped up the controversial estate for around $21 million … the company stated in a press release.
Ye notably nabbed the Tadao Ando-designed home for $57.3 million in 2021 … and then infamously stripped the manse down to its bare bones — reportedly to transform it into a bomb shelter.
But, the rapper seemingly got sick of the project and listed the home for the whopping price tag of $53 million.
Unfortunately for Ye, no one was eager to take on the stripped-down abode at that hefty price point … prompting the hitmaker and his realtor, “Selling Sunset” star Jason Oppenheim, to cut $14 million from the OG asking price.
Looks like Ye’s camp was eventually able to find a buyer … but needed to slash the price again, making it quite a deal for Belwood. Belwood Investments tells TMZ the deal is closing on September 3.
The company’s CEO, Bo Belmont, already has big plans for the mansion … announcing an additional $5 million investment into the property in an attempt to restore it to the legendary Japanese architect’s vision.
Belmont noted … “This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu.”
Here’s hoping $5M will do the trick … because it’s giving money pit, TBH.