The property asset involved in this transaction is a single-family home located at 24844 Malibu Road in the Malibu market. It is under contract for a price of $21,000,000, encompassing a total square footage of 4,021 with a price per square foot of $5,223.

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
• Seller's Representative: Jason Oppenheim - The Oppenheim Group
• Original Asking Price: $53,000,000
• Price Reduction: 60%
• Restoration Costs Estimated: $6,500,000
• Potential Final Value: Exceeding $50,000,000

Belwood Investments, represented by Jean-Baptiste Rugiero, has entered into a contract to purchase the property from seller Kanye West, represented by Jason Oppenheim. The deal involves plans to restore the home to its original design by Tadao Ando.