The concrete shell of the Malibu beachfront house once gutted by Kanye West has been relisted with an asking price of $34.9 million as its current owner prepares to resume restoration work, the listing agent said.
Jason Oppenheim, the agent handling the listing, told Realtor.com that the property has drawn “decent interest” since it returned to the market and that work on the restoration — which had been paused — is expected to restart "within weeks, if not days." Oppenheim said the house’s architectural pedigree and its status as likely the only Tadao Ando–designed home directly on the water make it particularly compelling to buyers.
The property’s relisting comes after a sale agreed earlier this year collapsed amid a dispute between the current owner, developer Steven “Bo” Belmont, CEO of Belwood Investments, and the prospective buyer, Montana luxury home developer Andrew Mazzella. Belmont has accused Mazzella of failing to secure financing and submitted a reduced purchase offer, while Mazzella has said he discovered additional restoration costs and incomplete disclosure after the parties reached their original agreement.
The house became a focal point for controversy after West removed windows, wiring and plumbing in what he said were renovations intended to create a fortified, modernist shelter. When West put the property back on the market in January 2024, the home had no interior finishes, electricity, plumbing or windows. The house originally carried a $53 million asking price in that listing.
Belmont purchased the property in September 2024 for about $21 million, according to previous reports, and announced plans to spend roughly $5 million to restore the Ando-designed structure. He later relisted the house with a $39 million asking price and said he had completed work including new plumbing and electrical, a reworked roof, framing and ordering specialized glass for windows from Germany.
Belmont told The Wall Street Journal that he had struck a deal with Mazzella to sell the house for between $30 million and $34 million, and that both men expected the sale to close by early May. The listing, however, remained pending for several weeks and the deal collapsed in August after disputes over financing and the scope of restoration work.
Belmont told the Journal that Mazzella failed to produce agreed funds and later made a much lower offer, which Belmont rejected. "I was born at night, but not last night," he said in the Journal, adding that he regretted not conducting more due diligence on the buyer.
Mazzella, for his part, said he offered $27.5 million in cash and that he had been under the impression Belmont would continue restoration work while their sale was finalized. He said the project required “hundreds of thousands, maybe millions” more than initially expected and that a “slow trickle of information” revealed more complexity, including details about numerous prior investors tied to the property that complicated financing.
Oppenheim said the listing has drawn interest beyond the high-profile history, pointing to the house’s architectural significance. He also told Realtor.com that if Mazzella can secure financing the deal could still be completed; in the meantime, the owner will pursue other opportunities.
The home, designed by Pritzker Prize–winning architect Tadao Ando, has drawn criticism from preservationists and architecture fans since it was stripped. Belmont had framed his purchase as an effort to “revitalize and preserve an architectural gem,” and his public statements indicated an intention to return the property to a livable condition that respects the original design.
The relaunch of the listing reduces the asking price by roughly $4 million from the $39 million price Belmont briefly advertised and follows months of halted construction, a failed sale, and media attention on the home’s unusual recent history. Oppenheim said renewed work will change the appearance of the property considerably before it is offered to a new buyer.
Representatives for Belmont and Mazzella did not immediately respond to requests for further comment. Realtor.com and The Wall Street Journal reported on aspects of the negotiations and comments by the parties, and the listing photos were circulated by the listing agent and media outlets following the relaunch.