The housing market is the absolute pits right now, so instead of crying about how none of us will ever afford to own a home, please join me in giggling at the absolute shit show that has been Kanye West‘s latest real estate debacle.
Very much a house fit for its owner, the USD $57 million (AU $86 million AUD), 4,000 square foot Malibu mansion — designed by Tadao Ando — was initially a work of art that was adored by many. But, like its most recent owner, the property has had a spectacular fall from grace in recent years.
West purchased the home for about USD $57 million in September 2021 and after three years of extensive renovations, he is now trying to cut his losses and sell it for just USD $39 million with Selling Sunset‘s Oppenheim Group.
According to the New Yorker, West hired a handyman by the name of Tony Saxon to complete extensive works on the property — allegedly without permits. These works included a total gutting of the house in 2022, and the removal of the property’s large, ocean-facing windows — leaving the property exposed to the elements as construction ground to a screeching halt.
“Currently all interior finishes have been removed from the property, and work is needed to either restore or reimagine the interiors,” the listing says.
West also allegedly used large blocks of foam to convert a wide staircase into a slide because he wants to “outlaw stairs“.
In April last year, neighbours told TMZ that the house had been “left to rot” and that they hadn’t “seen anyone around for months”. And by December, West enlisted the help of Jason Oppenheim to flog the property for $53 million — $4 million less than he’d purchased it for.
The property was once an architectural masterpiece, but now not even a $4 million discount and LA’s most famous real estate agent could get this marvel-turned-monstrosity off Ye’s hands.
According to the Wall St Journal, prospective buyers will need to spend “several million dollars” to make the house liveable.
Now, the price has been slashed again to just $39 million — which still feels like a lot considering the house has no power, water or windows.
The property issue comes after West lost a number of lucrative deals — including his Adidas x Yeezy partnership — over unhinged antisemitic remarks made on numerous occasions online.
