Jason Oppenheim with The Oppenheim Group represented the seller. Jean-Baptiste Rugiero with The Agency represented the buyer. The post Buyer Closes on Kanye West's Gutted Malibu Mansion for $21M—and Says the Star's Moves Were 'Dumb' appeared first on Real Estate News & Insights | realtor.com®.

Bo Belmont, CEO of California-based real estate crowdfunding firm Belwood Investments, has been revealed as the new owner of West’s gutted Malibu manse, which was built by Pritzker Prize-winning architect Ando for art collector and financier Richard Sachs in 2013.

Kanye West's ill-fated foray into high-end Malibu, Calif., real estate has left jaws dropping and wallets significantly lighter.

Belmont said that he has gone through the house and that its structure is not too damaged. The changes Ye made were “mostly cosmetic.” His biggest gripe is with the “No More Parties In L.A.” rapper’s removal of the glazing of the floors.

Kanye West’s changes to a Tadao Ando-designed mansion in Malibu have been called “dumb” by the property’s new owner. When the 47-year-old rapper bought the property for $57.3 million three years ago,

Kanye West’s creative alterations he made to his Malibu mansion he was forced to sell at a loss has been slammed by the new owner. The rapper snapped up the Tadao Ando-designed real estate property three years ago,

Belwood Investments has taken charge of Kanye West's Malibu mansion, aiming to restore it and sell for $40 million after West sold it at a $36 million loss.