Kanye West Takes a Massive $14 Million Hit Selling His Luxurious Abandoned Malibu Mansion with Stunning Ocean Views!
Kanye West Parts with Malibu Mansion at $14 Million Loss, Claims Reports
American rapper and singer Kanye West has successfully found a buyer for his long-abandoned beachfront mansion in Malibu. According to online records, the property, which had been on the market for some time, has finally entered escrow. The exact sale price remains undisclosed as the sale deed is yet to be finalized.
Originally purchased by West in 2021 for $57 million, the estate was initially listed at $53 million in January. However, amid a turbulent period, the star significantly reduced the asking price to $39 million in April, ultimately incurring a $14 million loss.
The mansion, located at 24844 Malibu Road, offers spectacular views of the Pacific Ocean from every room. Despite its luxurious design by Pritzker Prize-winning Japanese architect Tadao Ando, the house has fallen into disrepair, with rusted railings and overall decrepitude due to prolonged neglect. The interior spans 4,000 square feet and includes four bedrooms and five bathrooms, complemented by an additional 1,500 square feet of outdoor living space.
Notably, Tony Saxon, a former project manager, revealed troubling working conditions during his brief stint from September to November 2021. According to Saxon, he faced 16-hour workdays and was forced to sleep on the ground in makeshift conditions. His complaints about safety hazards, including the unsafe demolition of various parts of the house sans safety equipment, were reportedly dismissed by West. Saxon claimed West responded to his concerns with threats of termination and the loss of their friendship.
Jason Oppenheim, a star of “Selling Sunset” and the head of the brokerage handling the sale, confirmed the property is in escrow to ‘People’ magazine, yet the finalized sale price currently remains a matter of speculation.
Original Story https://www.livemint.com/news/kanye-west-sells-abandoned-luxurious-malibu-mansion-for-14-million-loss-check-the-price-of-pacific-ocean-facing-house-11722563375945.html
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