Andrew Mazzella Purchases Kanye West's Malibu Home From Steven Belmont For $30 Million

The property asset involved in this transaction is a single-family home located at 24844 Malibu Road in the Malibu market. The home encompasses 4,021 square feet and has a transaction price of $30 million, equating to a price per square foot of approximately $7,461. The property was previously sold to Belwood Investments for $21 million and has undergone partial renovations.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $30,000,000
• Buyer: Andrew Mazzella
• Seller: Steven “Bo” Belmont - Belwood Investments
• Square Footage: 4,021
• Price per Square Foot: $7,461
• Initial Market Listing: Less than a week before the sale
• Future Plans: Andrew Mazzella plans further upgrades before relisting for up to $65 million

The key individuals involved in the deal include Andrew Mazzella as the buyer and Steven “Bo” Belmont representing Belwood Investments as the seller. The transaction commenced shortly after the property was listed, indicating a fast-paced market environment. Mazzella's future intentions for the property include additional renovations, aiming to significantly increase its market value upon relisting.