Kanye West sells his oceanfront mansion in Malibu at a considerable discount, here’s why

Renowned Hollywood rapper Kanye West once owned a number of properties valued at millions of dollars. But the rapper and songwriter became embroiled in a number of scandals and lost interest in maintaining those opulent homes, which allowed them to decay. He sold Wyoming Ranch a month ago, and now he’s decided to sell another one in order to delegate some of the upkeep duties for the abandoned ones.

After selling his USD 14 million Wyoming Ranch, Ye reportedly sold another opulent property, an oceanfront mansion in Malibu, at a significant discount to its original asking price. The opulent home was valued at USD 57.25 million.

A month after selling Wyoming Ranch, also known as Monster Lake Ranch, for USD 53 million, the rapper is now reportedly selling the unusable, long-abandoned estate for USD 39 million with Jason Oppenheim’s assistance. Even though he lost USD 18 million on the transaction, Kanye proceeded with the plan to get rid of the property. He intended to build dome dwellings to reduce homelessness and also wanted to host his Sunday Service Choir.

When the property was first put up for sale in 2023, the Selling Sunset star told Hollywood Reporter that it had “remarkable architectural integrity.” He also mentioned the massive view of the Pacific Ocean from the property and the concrete work done by Tadao Ando, both of which “contribute to its values.” Ando built the mansion using 1,200 tons of concrete, 200 tons of steel, and 12 pylons buried more than 60 feet deep in sand. After that, the Malibu mansion will be restored, enticing potential buyers with bright prospects.