Tony Malibu's house which gained notoriety when Kanye West emptied it before selling it to a loss of several million dollars is again for sale.
The property, listed at $ 39 million, is in the middle of the renovation while its new owner cancels the renovation choices of the head of the head. The house, completed in 2013, was designed by Award -winning pritzker Japanese architect Tadao Ando. The owner Bo Belmont says he needs millions of dollars more to restore him to his former glory.
The remaining work and the fact that the house is part of a community devastated by the fire of the palisades may seem to be two strikes against him. But Belmont does not see it this way. The owner of Belwood Investments believes that the cachet of Malibu survived the fire when this house has survived you.
Work is underway on the master room and the house terrace designed by Tadao Ando.
(Myung J. Chun / Los Angeles Times)
Belmont said he and his team had finished around $ 2 million in renovations on the concrete house to return it to his condition before being bought by Ye, who removed the windows, the doors, the electricity and the plumbing and the broken walls. The house still needs an additional $ 6.5 million work, said Belmont.
But Belmont said he was happy to separate from the property now at the right price.
“We have done the calculation. We could sell now, go out and let someone add the finishes they want.
Ron Radziner, who directs Marmol Radziner, a design construction company, worked on the initial construction of the house and is now working to restore the house to its original look. This means a lair of concrete walls that have been demolished by Ye, replacing the cupboards withdrawn and reorganizing the doors that have been removed.
“It is obviously disappointing that a large part of the house has been deleted and demolished that it was,” said Radziner. “But I think we all feel in our really lucky team that we were asked to come back and put it back together.”
So far, only 20% of reconstruction has been completed, said Radziner. He has a team of around 40 people on property daily. He said that Ye's most disturbing action was the elimination of concrete walls.
“It is difficult to understand what would force these pieces to go out,” he said.
The project manager Katerina Salonikidi, on the left, and the foreman Sergio Marin of the Marmol Radziner design company on site.
(Myung J. Chun / Los Angeles Times)
Although the renovation is still in its initial phase, property offers have started to enter, said Belmont, but so far for the price requested in less than $ 39 million. Belmont thinks that there is a renewed interest in the properties of Malibu who survived the fires of Palisades.
“It is made of concrete. It is on a section of Malibu road which has not been impacted. So now there is a little exclusivity that Malibu has somehow lost for a while,” said Belmont. “The reason why people go to Malibu is to move away from the paparazzi and the bustle of the
“Now it seems that Malibu is taking over this exclusivity,” he said. “I think that is a great reason why we obtain verbal offers.”
Belmont has a company that allows people to “micro-investing” in properties as if they were actions. When the properties are sold, Belmont pays to the many investors who have held their participation. For this reason, said Belmont, he prefers to sell the house as soon as possible. Belmont told Times that there were 500 investors at the Malibu Road House who invested between $ 1,000 and $ 1 million.
The stairs lead to the house beach which is on a section of the Malibu road which was not affected by the fire of Palisades.
(Myung J. Chun / Los Angeles Times)
The Domaine de la Plage de Four Rooms would have been built for Former money manager Richard Sachs but was bought by Ye in 2021 for $ 57 million.
Belmont bought the house at $ 21 million for $ 21 million and called some of its “stupid” property decisions An interview over time in September.
Belmont is an entrepreneur with a complicated story. He spent three years in prison after being accused of Tent to murder for a fork attack in the county of Napa.
(“I shouldn't have brought a fork to a fight,” Belmont told Times.)
Now Belmont says that the fires that have devastated Los Angeles help the houses he tries to sell, none of which has burned, he said.
“The fires have really strengthened our value and increased attraction at all levels for our properties,” he said.
