Kanye West is paying a high price for the bomb shelter he envisioned in 2021.
He Dark fantasy The 47-year-old rapper has finally found a buyer who is willing to purchase the destroyed Malibu property for around $21 million. TMZ The sale is expected to close on September 3.
Kanye West originally purchased the Malibu beachfront property for $57.3 million in 2021.
When the bomb shelter project stalled, West put the property on the market for $53 million, but then lowered the asking price of his Malibu mansion to $39 million in April.
Still, the blighted Malibu beachfront property struggled to attract a buyer.
New reports cite that Kanye's team, including real estate agent and Sunset Sale Star Jason Oppenheim has now closed a deal with a California-based real estate crowdfunding company, Belwood Investments.
Belwood CEO Bo Belmont also announced plans to restore the property to its original architectural vision, which was originally designed by renowned Japanese architect Tadao Ando.
He is willing to invest an additional $5 million to preserve the unique design, calling it a “phenomenal real estate investment” and an opportunity to preserve a “Malibu gem.”
