Kanye West is rumored to be having some money problems. Media Take Out confirmed that the rapper has reduced Malibu mansion price by $14m. The dilapidated beach home ‘won’t sell’ after months of failed renovations.
The rap music star purchased the home in 2021 for $57million and had major renovation plans for the property. That turned out o be a VERY bad investment.
Kanye plopped millions of dollars into the home to “renovate it” to his standards. But he destroyed the home.
Now, instead of paying the $53million that the Vultures hitmaker asked for, anyone looking to purchase his former humble abode will now be paying $39million.
The home has four bedrooms, five bathrooms, outdoor decks, and a full view of the ocean.
Kanye originally had the idea to turn it into his dream home for his four children he shares with ex, Kim Kardashian, 43: North, 10, Saint, eight, Chicago, six, and Psalm, four.
Instead of living in the home, Kanye completely gutted the interior and ended up scrapping the project before it started.
And Kanye had trouble paying his contractors on the renovations. One contractor sued Ye and alleged that Kanye had yet to pay him for his work and that he owes him $1million.
In January, The Hollywood Reporter reported that Tony’s lawyer, Ron Zambrano, filed a mechanics lein.
A mechanics lein occurs when a person fails to pay their employees and can result in the forclosure of the property.
Some of the money used to repurchase the property will go to the workers so they are paid properly.
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