Kanye West Struggling to Sell $57 Million Mansion After It Was 'Left to Rot'

Kanye West is struggling to get his $57 million mansion off his hands.

The rapper recently gutted the house, leaving it with no windows, electricity, air conditioning or plumbing, Forbes reports. He purchased the home in 2021, but after he completely abandoned it, the Malibu property does not seem to have any takers.

West has enlisted Selling Sunset real estate mogul Jason Oppenheim to get rid of the 4,000-square-foot house. After five months of trying to get a potential buyer interested, they have now slashed the price by $14 million, going from $53 million to $39 million.

Since the artist, who is now legally named Ye, was already selling the house for less than he paid for it, it will seemingly be a huge loss for him.

When West first bought the property, then fully designed by Tadao Ando, he stripped it of all its furnishings and fixtures. After removing all windows and doors, he seemed to be gearing up for a massive renovation.

Now, as he reportedly shut down his building company, Yeezy Construction, Inc. in November, it does not seem like there will be any further developments on the home. It has gone untouched over the past year, causing a massive sore in the rapper's current financial state.

As West and Oppenheim struggle to sell the mansion, they argue that the massive discount in asking price is due to the missing interior.

"What's missing are the interiors," the Selling Sunset star said to the Hollywood Reporter earlier this year. "It's priced to reflect the need for the interior finishes to be replaced. On the positive, it can be brought up to 2024 standards - it was built about 10 years ago."

West began tinkering with the house in 2022 when he hired contractors to begin the renovation. But after he seemingly lost interest in the renovation, those who live in the surrounding area insinuate that it had been "left to rot" after they had not "seen anyone around for many months."

The home was initially listed for $75 million, which is much more than the "Carnival" musician bought it for. He was considered a billionaire at the time of the purchase. However, the title was stripped away from him last year when his net worth decreased significantly, now standing at $400 million. The loss in funds seemingly came after his Yeezy partnership with Adidas was terminated, previously a huge source of income for him.

Further controversy clouded over the project when Tony Saxon sued Ye for unjust working conditions. The contractor alleges that the rapper was forcing him to work 16-hour days, which led him to sleep on the floor of the property. He was then fired for attempting to alert West over potential concerns he had about the house's electric system.

He states that he is still owed over $1 million after his firing, which West denies. Earlier this year, Saxon's lawyers placed a lien on the house, ensuring that it will not be sold without the buyer first settling the debt that he is owed.

Tags

Kanye West, Real Estate