Ye, the rapper and music producer formerly known as Kanye West, has found a possible buyer for his unfinished Malibu home, making it last week’s top property under contract in the Los Angeles County luxury residential market.
The beachfront home has been up for sale since January, when it was listed for $53 million. In April, the Tadao Ando-designed house was reduced to $39 million. A restoration will be required by the next owner, given the home has been stripped of all interior finishes, according to the listing from The Oppenheim Group’s Jason Oppenheim.
The home is roughly 4,000 square feet with four bedrooms and five baths. It’s made of about 1,200 tons of concrete and 200 tons of steel reinforcement, the listing said.
Ye’s property at 24844 Malibu Road was the largest contract inked between July 22 and July 28, according to the Eklund Weekly Luxury Report LA. The Eklund-Gomes report counts all signed contracts in the MLS listed above $4 million in Los Angeles County.
The Malibu Road house is one of 16 total signed contracts for the week ended July 28, which is down from 19 in the prior week. The 16 contracts reflect single-family deals with total volume of $136.6 million, which is up slightly from the prior week’s $132 million.
Last week’s second-largest contract is 543 Perugia Way in Holmby Hills, listed at $13.7 million. The five-bed, seven-bath home totals 9,615 square feet and sits on more than half an acre.
Carolwood Estates’ Linda May and Guy Levy have the listing. The seller is a trust tied to philanthropist couple Dr. Rafael Mendez and his wife Sharyl Mendez, according to property records.
The Tudor-style home built in 1932 has views of the Bel-Air Country Club Golf Course. It first hit the market for $17.5 million in October.
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