Kanye West‘s Malibu mansion has had its price slashed again by an eye-watering $14 million, after the rapper didn’t receive a single offer on the gutted waterfront property.
TMZ is reporting that West lowered the price of the lemon of a property down to $39 million, from its original $53 million price tag, as of Thursday (April 11).
The move is considered unsurprising by those in the real estate world, as the home has been stripped down to a hull and is considered uninhabitable. It lacks running water, electricity, and even walls.
Selling Sunset star Jason Oppenheim is still listed as the exclusive real estate agent for the property, however, Oppenheim is advertising the property as a “blank canvas” that’s ready to be tailored to the next owner’s needs.
Kanye West initially purchased the property in 2021 and paid close to $58 million for the home designed by famed Japanese architect, Tadao Ando.
Ando is reportedly one of Kanye West’s favorite designers and that played a role in Yeezy’s post-Donda purchase of the extravagant bunker. Built in 2013, the mansion overlooks the Pacific Ocean and leans heavily on its concrete architecture throughout. But last month, Ye put the gutted-out mansion on the market for $53 million.
Jason Oppenheim tried to dress up the stripped-down property to The Wall Street Journal, claiming that the “blank canvas” of the house presented a “unique opportunity” to the right buyer.
An expert told The Wall Street Journal that the buyer of the property would have to sink an exorbitant amount of money into the property to make the concrete hull livable again, as it currently is without windows or electricity.
“Much of the architectural integrity and the architectural value of the house exists,” Oppenheim said, adding that the home’s original finishes were “dated.”
Oppenheim didn’t say why his client was listing the property in the first place; but back in January, a source alleged to be close to the rapper told The Daily Mail that Ye doesn’t want the place because the walls aren’t the right color.
“Ye prefers earth tones, muddy colors from silt to loam but never too cold and nothing visually draining like a clay,” the source told the outlet on Sunday (December 31). “Architects and designers working for Ye have in the past been dispatched to collect soil samples from the UK, France, and elsewhere as color references for his iconic looks.”
The source continued: “Unfortunately, the concrete settled into more of a cadet gray and he was hoping for a warmer tone, more of dovetail gray or coachman’s cape. Ye would only visit the house at sunrise and sunset when he said the color didn’t irritate him so much. Eventually, he stopped going altogether.” (HipHopDx)