Kanye West Bought an Architectural Treasure—Then Gave It a Violent Remix | The New Yorker
(https://www.newyorker.com/magazine/2024/06/17/kanye-west-tadao-ando-beach-house-malibu)
============
Here is the Zillow listing: https://www.zillow.com/homedetails/24844-Malibu-Rd-Malibu-CA-90265/20554034_zpid/ . Houses on either side of it are worth $9.3 and $10 million. Other nearby houses are worth $3 million to $17 million.
So, if it would cost $10 million to remodel it and make it livable, and another $1 million to pay off the lien, it would be worth about $10 million. So the house has NO value at all.
===============
The property taxes on this were $662,000 in 2022 and $670,000 in 2023. I think it will probably be foreclosed on in a couple of years.
============
Update 8/10/24: Somebody is buying it! We will probably find out the exact selling price and the buyer in about a month.
============
The closing hasn't happened yet, but rumor has it that the selling price is $21 million. "Belwood Investments, originally founded in Folsom, is in escrow on West’s home at 24844 Malibu Road for $21 million, according to the company’s marketing lead David Contreras." https://therealdeal.com/la/2024/08/22/house-flipping-firm-in-escrow-on-kanye-wests-malibu-house/ So the loss is only $36 million.
No comments:
Post a Comment