New owner upset with Ye's 'dumb' renovations to Malibu mansion
What's the story
Bo Belmont, the head honcho at California-based real estate crowdfunding platform Belwood Investments, has taken a jab at rapper Kanye West (Ye)'s recent changes to his Malibu crib.
The house, initially crafted by the renowned Tadao Ando, was bought by Ye for $57.3M three years back. But guess what? He just sold it for a whopping $36M loss!
"That was a really dumb move. Really no purpose," Belmont told the Los Angeles Times, referring to the modifications made by Ye.
Restoration plans
'He single-handedly destroyed this architectural masterpiece'
Mickey Belmont, the new owner of the property, isn't too pleased with the changes the rapper made. He said the musician "single-handedly destroyed this architectural masterpiece."
Belmont's CEO also mentioned that he plans to restore the house to its original condition to erase any signs of Ye's stay. "My goal is to make it as though Kanye was never there. The house will be restored right back to what it was," he said.
Radical changes
The eccentric modifications made to the mansion
Ye had made some pretty wild changes to the mansion while he was living there. He took out all the windows, doors, electricity, and plumbing.
The rapper even thought about turning stairs into a slide, making the floors trampolines, and camouflaging the house's exterior.
Belmont slammed these plans, saying they would have needed a lot of review. He added that Ye does things his own way without caring about necessary processes or regulations.
Investment strategy
Belmont's vision for the Malibu mansion
Belmont sees the acquisition of this property as more than just a real estate investment. He views it as an opportunity to "revitalize and preserve an architectural gem" by Ando, ensuring it remains a jewel of Malibu.
This acquisition exemplifies Belwood Investments's commitment to "transforming properties with historical and architectural significance while delivering exceptional returns for our investors," he stated earlier about the purchase.