realestate

Kanye West's Malibu Mansion Deal Collapses Amid Financial Hurdles

Kanye West's former Malibu beachfront home is back on the market.

K
anye West's former Malibu mansion, known as "Little Ando," has resurfaced on the market for $34.9 million after a failed sale deal. The property, originally designed by Tadao Ando and purchased by West in 2021 for $57.25 million, was gutted down to its concrete slabs before being sold at a discounted price of under $22 million.

    Belwood Investments, the buyer, planned a $8.5 million restoration project but ultimately listed the partially restored home for $39 million in March. Developer Andrew Mazzella entered into a contract to buy the mansion for $30 million cash, but the deal fell through due to alleged financing issues and Mazzella's unpreparedness.

    According to Belwood Investments founder Bo Belmont, Mazzella was unable to secure funding despite extensions, while Mazzella claimed he discovered unexpected restoration costs of hundreds of thousands or millions of dollars. The two parties have differing accounts of events, with Belmont alleging that Mazzella made revised offers of $19.5 million and $27.5 million, which were declined.

    Belmont has begun pursuing legal action against Mazzella, while the property remains on the market at a significantly reduced price from its original value. The 4,000-square-foot home was originally designed for financier Richard Sachs and features minimalist luxury designs characteristic of Ando's style.

Kanye West's Malibu mansion deal collapses due to financial difficulties in California.