The buyer of Kanye West's infamous Malibu mansion, which he recently sold for around $21 million, has been revealed to be Belwood Investments, a "real estate crowdfunding firm" that's been in operation since 2018. In a press release the company put out, they confirmed plans to put $5 million in renovations into the home “to restore the property to its original state.”
"We are incredibly excited about the acquisition of this property," Belmont said. "This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu. This acquisition exemplifies Belwood Investments' commitment to transforming properties with historical and architectural significance while delivering exceptional returns for our investors."
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The release added that: “Restoration will honor the unique materials and innovative design elements specified by Ando, many of which were imported from around the world... The renovation process is anticipated to take 12-16 months.” It also noted that: “Richard Sachs, the original owner, aptly described it: ‘This is not just a house; this is like a Picasso, a cubist painting, very important and very rare.'” The company never made mention of Kanye West's ownership.
West caused controversy regarding the property by stripping it, despite the rarity of Ando residences. The New York Post previously reported that he described it to a worker as his "bomb shelter" and "Batcave." He removed tubs, light fixtures, windows, heating, air conditioning, and more. The house encompasses 4,000 square feet and contains four bedrooms and five bathrooms. Be on the lookout for further updates on Kanye West on HotNewHipHop.
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