HAPPENING NOW! At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. JOIN US VIRTUALLY.
Ye, the rapper formerly known as Kanye West, has found a potential buyer for his half-finished Tadao Ando-designed home in Malibu, The Real Deal reported on Tuesday. The pending deal made it the priciest property under contract last week in LA County.
In January, Ye put the waterfront property on the market for $53 million with Jason Oppenheim of The Oppenheim Group. By April, the asking price was cut to $39 million.
TAKE THE INMAN INTEL INDEX SURVEY FOR JULY
Whoever ends up taking ownership of the property will need to do extensive work on it since the home has been stripped of all its interior finishes, the listing description notes.
[Inman Slideshow]
Spanning about 4,000 square feet inside the home, the property also includes about 1,500 square feet of outdoor decks. It includes four beds and five baths, and boasts ocean views from every room. The home was constructed out of concrete and steel reinforcement with AD100 architecture firm Marmol Radziner.
After Ye bought the property in 2021, he reportedly went on to tear out several of the home’s components in a renovation, like windows, doors and wiring, but was unable to see the project through to completion. The rapper was also sued by one contractor who was working on the home for alleged brutal working conditions that included working 16-hour workdays and sleeping on the floor near open insulation.
The property was the priciest home to go under contract between July 22 and July 28, according to the Eklund Weekly Luxury Report LA. The report tracks all signed contracts in the MLS listed above $4 million in LA County.
A total of 16 contracts were signed during the week that ended July 28, down from 19 the previous week.
Get Inman’s Luxury Lens Newsletter delivered right to your inbox. A weekly deep dive into the biggest news in the world of high-end real estate delivered every Friday. Click here to subscribe.
