malibu home Archives - New Hip Hop News

Kanye West Finally Sells Malibu Mansion After Slashing Price By $14 Million

July 30, 2024 by newhiphopnews

Kanye West’s reputation has made a 180. The artist once hailed for his vision and perfectionism has become infamous for abandoning projects. The rapper has announced, then shelved, a dozen albums in the last decade. A similarly scattered thought process was applied to the renovation of West’s home in Malibu. The rapper reportedly gutted the house with the intention of remodeling it. Instead, he made it significantly less valuable by the time he found a buyer.

Kanye West found said buyer on July 25. According to TMZ, the rapper’s Malibu estate went into Escrow following a lengthy stint on the market. He enlisted the help of Selling Sunsets realtor Jason Oppenheim, and evidently, the reality star came through. Oppenheim pitched the estate as an “open canvas” for an adventurous homeowner to remodel to their liking. It’s an ironic pitch, given that is exactly what Kanye West was going for when he gutted it. The rapper purchased his Malibu home in December 2021. He spent over $57 million on the estate, which spans 4,000 square feet and includes four bed rooms and five bathrooms.

Kanye West Bought The Mansion For $57 Million In 2021

Unfortunately, Kanye West was not able to make his money back. He reportedly chopped $14 million off the initial asking price, due to the fact that the estate is currently unlivable. TMZ claims that most of the rooms in the mansion don’t even have walls. While the readjusted price was $39 million, the outlet says that the price the buyer agreed to pay for West’s estate is still unknown. It’s possible the rapper had to settle for a price even lower than his slashed offer.

Kanye West’s decision to break down and gut his Malibu home was detailed in a New Yorker profile in June. The rapper enlisted the help of various architects and designers to remodel the house to his exact specifications. It did not go according to plan. Tony Saxon, the man who spearheaded West’s renovation project, told the outlet that he effectively ruined a piece of art. “It’s funny,” he explained. “And not funny, in a way, to say, ‘I’m the man who single-handedly destroyed this architectural masterpiece.’ But I pretty much did… It’s always an adventure.” Here’s hoping the next owner has more luck that Mr. West.

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Kim Kardashian Over The Moon About Her $70 Million Malibu Home

July 6, 2023 by newhiphopnews

Kim Kardashian is an extremely rich person. Overall, her wealth is beyond what a lot of people could possibly imagine. Although she has certainly gone through her fair share of personal turmoil, there is no doubt that she has quite a bit to fall back on. Whenever a new episode of The Kardashians airs on Hulu, we get yet another glimpse at the kind of wealth she possesses. For the most part, it is beyond what the average person could even fathom.

For the vast majority of her life, Kim Kardashian has lived in Los Angeles. This is where her reality show has largely taken place, and it is what fans are used to. However, that doesn’t mean she hasn’t been willing to change things up over the years. In fact, on the latest episode of The Kardashians, Kim got to flex her brand new home in Malibu. This place cost a whopping $70 million, and by the looks of things, there is a good reason for the hefty price tag.

Kim Kardashian And Her New House

“This has been a dream of mine forever, and it’s just one of those pinch me moments where I can’t believe I achieved a goal that I really didn’t think was realistic,” Kim Kardashian explained on the show. As she was saying, this place is actually going to serve as a party home of sorts. Although we imagine Kim and her kids will be spending lots of time here. After all, Malibu is a beautiful place and this home is expansive and full of options for activities.

Housing prices these days can be pretty wild. In California especially, property prices have skyrocketed in recent years. Even basic homes are now unaffordable for the average person. Although, for someone like Kim K, this has never been an issue. If anything, this will just make people feel as though we need more policies to make houses less expensive. That way, people wouldn’t feel like they are up to their necks in water.

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Kanye West Shuts Down Construction Company Amid Financial Struggle

May 28, 2023 by newhiphopnews

Kanye West is going through a lot right now, and has been for almost a full year following his fallout with The Gap, Adidas, and the public after his anti-semitic comments and other controversial behavior. While he’s up to other endeavors these days like his Yeezy fashion shows, his pockets don’t seem to run as deep as they used to. Moreover, AllHipHop reports that the Chicago native shut down his construction company, Yeezy Construction, Inc. What’s more is that he actually had at least one major project on the horizon when it came to property. However, it seems like that goal is unattainable at the moment.

Furthermore, he planned to renovate his $57 million Malibu property and customize it as he saw fit. To elaborate, Kanye West basically rendered the home skeletal as he sought to add new windows and invest in making it his own. Back in November of 2022, reports emerged that the 45-year-old halted said process because of his worsening financials and business relationships. Now, the U.S. Sun reports that sources see the property abandoned and in ruin.

Kanye West’s Abandoned Malibu Property

Kanye West’s $57 Million Malibu Mansion Is Vacant and Has Been Taken Over By Pigeons (Photos) https://t.co/FhocEnkToz pic.twitter.com/9cSSBqLyyE

— Robert Littal BSO (@BSO) April 15, 2023

The financial repercussions that Ye faced for his antics vary, whether it’s partnerships cutting ties altogether or forming some sort of compromise due to the other side’s monetary fallout, as well. For example, recent reports indicated that Adidas did, in fact, freeze Kanye West’s account totaling close to $100 million as he previously claimed. While they agreed to sell the remainder of unsold Yeezy stock, it’s clear the brand wants to officially terminate the relationship as soon as possible. In addition, they announced that most of the proceeds will go to the Anti-Defamation League, a leading voice against antisemitism, and the Philonise & Keeta Floyd Institute for Social Change dedicated to the life of George Floyd and justice for marginalized communities.

Meanwhile, as new Yeezy colorways and designs hit the Internet, fans wonder just how much money this will net the multi-hyphenate. Also, debate surely sprouted among many fans on whether they would support this decision. Regardless of how it pans out, it will be very interesting to see how this business deal comes to a close- and how much stakeholders and the company leaders themselves will benefit from it. For more updates and the latest news on Kanye West, stay logged into HNHH.

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