M
alibu’s former Kanye West residence, a Tadao Ando‑designed concrete slab on the Pacific, is now up for sale as a fractional asset. In 2024, Steven “Bo” Belmont acquired the property for $21 million after West gutted it and never occupied it. Belmont plans to convert the house into a members‑only venue reminiscent of Soho House, offering investors both access and a share of the property’s equity.

    The venture, called Populis, is a membership‑driven platform that sells stakes in architecturally significant homes. Investors can purchase tiers ranging from $15 000 to over $100 000, gaining entry to tours, events, and summits hosted at the properties. While the model aims to democratize real‑estate investment, Belmont acknowledges a higher entry point, targeting accredited investors initially. “We’ve set a higher threshold to attract those who can appreciate the luxury experience,” he told Business Insider. “As we grow, we plan to broaden access.”

    Christie’s International Real Estate lists the Malibu house at $12 million, but clarifies it is not a full‑asset sale. “This is a private, membership‑driven opportunity for buyers who want exposure to blue‑chip real estate without taking on ownership, management, or renovation responsibilities,” the listing states.

    Populis, co‑founded by Belmont, Alexandra Damsker, and Matthew Hintz, functions as a crowdfunding platform that turns unique properties into social hubs. The Malibu project is the first, with plans to expand to other iconic homes worldwide. Belmont’s vision is “a civic movement of architects, artists, and outsiders reclaiming culture’s rarest places,” allowing a broader audience to experience world‑class venues.

    West’s 2021 purchase of the house for $57 million never materialized into residency, making the property a blank canvas. Belmont sees value beyond the former owner: a distinctive concrete structure perched on the coast that will attract visitors and investors alike. “This isn’t a regular single‑family home; it’s something entirely different,” he said.

    Through Populis, investors not only gain potential financial upside but also the chance to socialize in exclusive settings, meeting peers at these remarkable properties. The Malibu house, once dormant, is poised to become a vibrant community space, blending luxury, architecture, and shared ownership.