Bo Belmont Of Belwood Investments Purchases Malibu Home From Kanye West For $21M

The property asset involved in the transaction is a single-family home located at 24844 Malibu Road in Malibu, with a sale price of $21,000,000. The home spans 4,021 square feet and was sold by the artist Kanye West, who originally purchased it for $57.25 million in 2021. The property underwent extensive renovations, resulting in it being completely gutted with no plumbing or electricity.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $21,000,000
• Buyer: Bo Belmont - Belwood Investments
• Seller: Kanye West
• Buyer's Representative: Jean-Baptiste Rugiero - The Agency
• Broker: Jason Oppenheim - The Oppenheim Group
• Lender: Dallas Tessar - CV3 Financial Services
• Sale Price: $21,000,000
• Square Footage: 4,021
• Price Per Square Foot: $5,222

Belwood Investments, under the leadership of Bo Belmont, intends to restore the property to its original condition with an investment of $6 million and has rehired the original general contractor/architect. To finance this, Belmont secured an acquisition loan of $18.5 million from CV3 Financial, allowing for a strategic investment in the property aimed at relisting it for approximately $40 million.