Ye’s Gutted Malibu Mansion Asking Price Drops by $14 Million

Late last year, Ye, formerly Kanye West, listed his Malibu mansion for sale. But the journey for the property has been a rocky one.

It started in September of 2021 when Ye acquired the Tadao Ando-designed oceanfront house in Malibu for about $57 million.. In early 2022, Ye brought in contractors to oversee extensive remodeling plans for his Malibu palace.

By summer 2022, Ye’s Malibu house was entirely gutted and barren as repairs dragged on and on.

By December 2023, Ye enlisted Jason Oppenheim of Netflix’s ‘Selling Sunset’ to sell the property for $53 million.

Today (April 12) TMZ reports, the mansion’s price came down Wednesday … It started with a $53 million price tag in January … and has now dropped to $39 million this week. For those bad at math … that’s a $14 million price reduction.

The drop isn’t totally shocking … the house doesn’t even really have walls, and it basically feels somewhat uninhabitable at this point — so, whoever buys it needs to make serious renovations to the property, and it’ll probably end up costing a ton of dough to do that.

Seems not a lot of prospective new owners are jumping at the listing though … the house is sorta languishing in the middle of one of the ritziest communities Los Angeles has to offer.

BTW … the 4,000+ square foot house has four bedrooms, five bathrooms, beautiful outdoor decks with views of the Pacific Ocean and close proximity to restaurants, shopping and more in Malibu.

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