{"id":5152,"date":"2024-04-11T22:26:34","date_gmt":"2024-04-11T22:26:34","guid":{"rendered":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2024\/04\/11\/kanye-wests-concrete-fortress-in-malibu-just-dropped-in-price-by-14m\/"},"modified":"2024-04-11T22:26:34","modified_gmt":"2024-04-11T22:26:34","slug":"kanye-wests-concrete-fortress-in-malibu-just-dropped-in-price-by-14m","status":"publish","type":"post","link":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2024\/04\/11\/kanye-wests-concrete-fortress-in-malibu-just-dropped-in-price-by-14m\/","title":{"rendered":"Kanye West\u2019s Concrete Fortress in Malibu Just Dropped in Price By $14M"},"content":{"rendered":"

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The O Group; Realtor.com; Stephane Cardinale – Corbis\/Corbis via Getty Images<\/p>\n

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Kanye West<\/strong>, the controversial rapper and businessman, is still trying to separate himself from his minimalist Malibu, CA,<\/a> mansion.<\/p>\n

The concrete fortress was listed at the beginning of the year for an astounding $53 million<\/a>. In hopes of attracting an offer, the musician, who now goes by Ye<\/strong>, has reduced the price by a substantial $14 million. It\u2019s now available for $39 million.<\/p>\n

The sum may have taken into account the 4,000-square-foot interior that\u2019s been stripped, requiring a buyer to finish the spaces.<\/p>\n

\u201cCurrently all interior finishes have been removed from the property, and work is needed to either restore or reimagine the interiors,\u201d the listing states.<\/p>\n

\u201cIt will take several million dollars for the house to be finished,\u201d Jason Oppenheim<\/strong><\/a> of the Oppenheim Group told the Wall Street Journal<\/a> in December. Oppenheim, who stars in \u201cSelling Sunset,\u201d is the listing agent.<\/p>\n

Kanye West just cut the price of his Malibu, CA, mansion.<\/p>\n

Realtor.com<\/p>\n

This particular real estate investment will not be positive for the Ye. He spent<\/a> a hefty $57,250,000 for this Tadao Ando<\/strong><\/a> design in 2021.<\/p>\n

Let\u2019s take a look.<\/p>\n

Beach behemoth<\/h2>\n

The 2013 build is only one of a handful of private homes in the United States designed by the Pritzker Prize\u2013winning Japanese architect. The designer\u2019s aesthetic is in lockstep with Ye\u2019s preference for pared-back, minimalist dwellings.<\/p>\n

Just steps from the Pacific Ocean, the home sits on a relatively compact lot size of 5,674 square feet. The structure is made of approximately 1,200 tons of concrete, 200 tons of steel reinforcement, and 12 massive pylons driven more than 60 feet into the sand.<\/p>\n

Ando worked with Marmol Radziner, with the firm acting as \u201cexecutive architect and general contractor\u201d for the building. Inside, \u201csmooth-as-silk\u201d concrete is found, along with natural light, another signature feature of Ando\u2019s designs.<\/p>\n

Glass pivot walls open to the water.<\/p>\n

Realtor.com<\/p>\n

The concrete home sits right on the beach.<\/p>\n

Realtor.com<\/p>\n

\u201cThe price adjustment is certainly a step in the right direction,\u201d says Madison Hildebrand.<\/p>\n

Realtor.com<\/p>\n

Walls of windows showcase the natural light.<\/p>\n

Realtor.com<\/p>\n

From the street, the home looks impregnable, with frosted glass and a concrete facade. But the beach-facing side offers pivoting glass walls and a staircase to outdoor spaces and the water.<\/p>\n

Is it priced right?<\/h2>\n

The beach pad was on the market in 2020 for $75 million. Ye was able to grab it at a much lower price before beginning a gut renovation of the home, which remains unfinished.<\/p>\n

So is the newly reduced price right?<\/p>\n

\u201cThe price adjustment is certainly a step in the right direction,\u201d says Madison Hildebrand<\/strong>, Realtor\u00ae and founder of The Malibu Life Team<\/a> at Compass.<\/p>\n

\u201cMalibu is a special place, and this architect is world-renowned, but whether or not it\u2019s valued right is in the eye of the beholder. There isn\u2019t anything in the immediate area that I would consider a sold comparable that has a small lot and proximity to neighbors like this. Most other homes that have sold are considered more of a compound, or have more each [of] frontage or depth on the lot size.\u201d<\/p>\n

Hildebrand also notes that the other comparable homes are \u201ccompletely turnkey or at the bare minimum have fixtures and appliances unlike this one.\u201d<\/p>\n

Perhaps a 26% price cut will entice a buyer to finish Ye\u2019s mammoth project.<\/p>\n

The post Kanye West\u2019s Concrete Fortress in Malibu Just Dropped in Price By $14M<\/a> appeared first on Real Estate News & Insights | realtor.com\u00ae<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The O Group; Realtor.com; Stephane Cardinale – Corbis\/Corbis via Getty Images Kanye West, the controversial rapper and businessman, is still trying to separate himself from his minimalist Malibu, CA, mansion. The concrete fortress was listed at the beginning of the year for an astounding $53 million. In hopes of attracting an offer, the musician, who…Read More→<\/a><\/p>\n","protected":false},"author":0,"featured_media":5153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/5152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/comments?post=5152"}],"version-history":[{"count":0,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/5152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media\/5153"}],"wp:attachment":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media?parent=5152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/categories?post=5152"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/tags?post=5152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}