Kanye West reduces Malibu mansion price by $14m as gutted beach home ‘won’t sell’ after months of failed renovations

Kanye West has recuded the asking price for his multi-mullon dollar Malibu mansion

KANYE West has yet to find a potential buyer for his multi-million dollar mansion in Malibu, California.

The rap music star purchased the home in 2021 for $57million and had major renovation plans for the property.

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Kanye West has recuded the asking price for his multi-mullon dollar Malibu mansionCredit: Getty
The rap music star purchased the home for $57million in 2021 and had big renovation plans

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The rap music star purchased the home for $57million in 2021 and had big renovation plansCredit: Getty
Kanye had plans to make it the dream home for his four children he shares with his ex-wife Kim Kardashian: North, Saint, Chicago, and Psalm

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Kanye had plans to make it the dream home for his four children he shares with his ex-wife Kim Kardashian: North, Saint, Chicago, and PsalmCredit: John Chapple for The US Sun

Kanye, 46, first put his beachfront home on the market in December 2023 and it was reported by TMZ that he drastically slashed the price by $14million.

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 A BIND

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.

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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.

On Thursday, it was reported that Kanye dropped the asking price by $14million

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On Thursday, it was reported that Kanye dropped the asking price by $14millionCredit: John Chapple for The US Sun

Ron said in a statement, “We just want to make sure he has enough money to pay the more than $1 million he still owes our client before he goes completely broke.

“So in this case, if someone wants to buy Kanye’s Malibu home, they’ll have to deal with us first. That sale cannot happen without Tony being paid.”

NIGHT OUT

Despite the ongoing drama of his rotting mansion, Kanye seems to be unbothered while out and about with his wife, Bianca Censori, 29.

Over the last week, the couple – who got married in 2022 – were spotted all over Los Angeles.

Their most recent outing occured on Wednesday night as they attended an all-white party for Ty Dolla $ign’s 42nd birthday in West Hollywood.

Ty recently collabed with Kanye on his latest album, Vultures.

Matching perfectly with the white theme, Bianca wore her typical barely-there attire by donning a plunging dress that showed off ample cleavage and toned legs.

Meanwhile, Kanye stuck with a simple white T-shirt and pants.

He pulled his look together with a pair of brown Timberland boots.

The price went from $53million when it first went on the market last December and is now at $39million

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The price went from $53million when it first went on the market last December and is now at $39millionCredit: John Chapple for The US Sun
Kanye and his realtor have yet to find a potential buyer

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Kanye and his realtor have yet to find a potential buyerCredit: Getty

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