A striking beachfront mansion once owned by rapper Kanye West, now known as Ye, has hit the market again with a hefty price tag of $39 million. The home, originally designed by renowned Japanese architect Tadao Ando, remains in the midst of an extensive renovation after being gutted by Ye during his ownership.
Despite its unfinished state, real estate entrepreneur Steven “Bo” Belmont, the current owner, believes the home’s architectural significance and Malibu’s exclusive market make it a hot commodity.
The 4,000-square-foot concrete mansion, one of only a few private residences in the U.S. designed by Ando, was built in 2013 for financier Richard Sachs. Known for its minimalist and fortress-like aesthetic, the home features massive concrete walls, steel reinforcements, and deep-set pylons anchoring it into Malibu’s sandy shores. It was meant to be a modern masterpiece.
Ye purchased the home in 2021 for a staggering $57.25 million, but instead of preserving its unique design, he stripped it down to its bare bones. Reports suggest that Ye wanted to transform the property into a futuristic, bunker-style retreat, removing windows, marble bathrooms, plumbing, and electrical systems. The once-luxurious home was left exposed to the elements, drawing criticism from both real estate experts and architectural enthusiasts.
After facing financial setbacks and public scrutiny, Ye listed the stripped-down property for $53 million in early 2024. However, with no takers at that price, he eventually sold it to Belmont for $21 million—a significant loss.
Since acquiring the mansion, Belmont has made it his mission to restore the property to its former glory. He initially planned to invest $5 million in renovations but soon realized the scope of work required was much larger.
Working with the architectural firm Marmol Radziner, who had previously collaborated on the home’s original construction, Belmont and his team have already invested $2 million into essential upgrades like new plumbing, electrical systems, and roofing.
However, an estimated $6.5 million more is needed to fully restore the property, bringing the total renovation cost to around $8.5 million. Rather than completing the project, Belmont has decided to list the home now, allowing a potential buyer to customize the final details. His reasoning? The carrying costs of maintaining the property, estimated at around $1 million per month, make an early sale more appealing.
Despite its incomplete state, the property has drawn significant interest. The home’s architectural pedigree alone makes it a rare find, with buyers seeking out Ando-designed properties as prized investments. Celebrity real estate agent Jason Oppenheim compared the mansion to owning a Picasso, saying,
“This is a masterpiece in its own right—one that the buyer can add their own finishing touches to.”
Belmont’s investment firm, Belwood Investments, operates on a crowdfunding model, allowing around 500 investors to hold stakes in the property. The pressure to maximize returns within a set timeframe has influenced Belmont’s decision to list the home before renovations are completed.
He has already rejected offers, including one from a Montana developer at $30 million and another from a local builder at $28 million, as too low. If the home doesn’t sell at the current asking price, he plans to finish the renovations and re-list it in 2026 for between $55 million and $65 million.
Surprisingly, the Malibu wildfires in recent times have worked to enhance the value of the house rather than diminish it. The estate withstood the Palisades fire which gutted parts of the neighborhood early in 2025, a testament to its sturdiness. Belmont argues that the limited number of ultra-luxury properties available in Malibu has served to make it all the more desirable, stating,
“Malibu is regaining its exclusivity. There’s a renewed demand for unique, architecturally significant homes.”
The fact that another Malibu house designed by Ando was sold to Beyoncé and Jay-Z for a record $200 million in 2023 also highlights the premium that is placed on such architectural gems.
The path of this Malibu mansion—from a groundbreaking architectural gem to a hollow shell and now a renovation project—speaks to the whimsical nature of the ultra-luxury residential market. Ye’s ambitious but conflicted redesign of the home had left it in a precarious state, but Belmont’s efforts mark a fresh start for the property.
