"Kanye West's Malibu property has made headlines again, topping L.A. contracts at a $39 million asking price, showcasing the high stakes in L.A.'s real estate market."
"After Kanye West stripped the Malibu property, Belwood Investments purchased it for $21 million, renovated it, and is now set to sell it to Mazella Ventures for $39 million."
Kanye West's Malibu property has regained attention, recently ranking first among signed contracts in L.A. with a $39 million price. West had controversially stripped the home of its finishes, leaving it in stark condition before selling it to Belwood Investments for $21 million. After renovations, it is now in contract with Mazella Ventures LLC. The high-end real estate market in L.A. is shifting, partly due to key players leaving Hilton & Hyland, creating new competitive dynamics among boutique brokerages. Elsewhere, James Packer sold another high-profile Beverly Hills estate for $60 million.
Read at therealdeal.com
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