A one-time abandoned architectural jewel in Malibu that was bought and partially demolished by rapper Kanye West has a miracle survival of the catastrophic California wildfires. Developer Steve “Bo” Belmont confirmed that a beachfront property cared for by his company came through the fires without damage, as did other homes.
The house, by famous architect Tadao Ando, was bought in 2021 by West at a staggering $57.25 million. He stripped the property down to a shell to transform it into a modern bomb shelter. However, West abruptly abandoned the project, listing the home for $53 million in early 2024.
Although celebrity realtor Jason Oppenheim put forth his best efforts, the gutted mansion lingered on the market until Belmont acquired it for $21 million—a $36 million loss for West. Belmont, which is known for luxury real estate projects, plans to restore the property to its original minimalist splendor.
Recently, a raging Palisades fire, that burned up to 40,000 acres of land and ravaged homes in Malibu, threatened to level the mansion. Belmont allayed investor fears with a post on Instagram that the property remained intact and, “We are dedicated to ensuring our team’s safety and continuing our projects as circumstances allow.”
Belmont plans to hire Marmol Radziner, the company that designed the original home, to undertake the restoration. The work should take 14 months and cost about $6 million to $8 million. Concrete and steel four-bedroom, five-bathroom house originally built in 2013, atop sand with caissons driven deep into bedrock.
Once restored, Belmont will sell the ultramodern mansion for a good profit, keeping his company focused on luxury real estate investments.
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