The former Malibu home of Ye, previously known as Kanye West, topped last week’s list of signed contracts in Los Angeles County, with the Tadao Ando-designed property asking $39 million.
That’s according to the Eklund Weekly Luxury Report Los Angeles from Douglas Elliman’s Eklund Gomes team, which lists homes under contract by asking price in descending order.
The deal isn’t necessarily a surprise after seller Belwood Investments revealed in late March it accepted a non-contingent, cash offer from Montana developer Andrew Mazella Ventures for 24844 Malibu Road.
The fractionalized investing platform bought the four-bedroom, five-bathroom beachfront home from Ye in October for $21 million. The company then finished the electrical work and did other construction to rehabilitate the roughly 4,000-square-foot property, which Ye had stripped of all finishes.
The Oppenheim Group’s Jason Oppenheim and The Agency’s Mauricio Umansky hold the listing.
Belwood said at the time it announced its acceptance of the offer it expected to close May 1 after which it would release financial details, including construction costs.
Malibu was popular among big spenders last week with 23736 Malibu Colony Road in the No. 2 spot among homes that went into contract. The six-bed, five-bath home is listed for $32.5 million.
Compass’ Chris Cortazzo holds the listing.
Property and state records show the seller is a Delaware-registered limited liability company called Nachmi, which is managed by Christian Leone, founder and CEO of New York hedge fund Luxor Capital Group.
The gated Malibu property has vaulted ceilings in the primary suite and a beachfront deck. The property also includes two detached guest homes.
Across Los Angeles County a total of 17 properties went into contract last week, which equated to $186.2 million in listing dollar volume, according to Eklund Gomes.
In the prior reporting period ended April 20, 18 properties went into contract amounting to $128.8 million in total asking dollar volume.
The Eklund report counts Los Angeles County properties in the Multiple Listing Service with an asking price of $4 million or more.
Read more
Residential
Los Angeles
Buyer of Kanye West’s Malibu home brings unusual business model
Residential
Los Angeles
Trousdale Estates mid-century modern property with $26M ask tops LA contracts
Residential
Los Angeles
Countywide listing price volume of signed contracts fell to $110M last week