Kanye West's gutted Malibu property buyer reveals major plans

Kanye West is paying a high price for the bomb shelter he envisioned in 2021.

The Dark Fantasy rapper, 47, has finally found a buyer who's willing to take the gutted Malibu property for around $21 million, TMZ reported. The sale is expected to close on September 3.

Kanye West originally bought the beachfront Malibu property for $57.3 million in 2021. 

As the bomb shelter project stalled, West listed the property for sale at $53 million but later dropped the asking price of his Malibu mansion to $39 million in April.

Even then, the gutted Malibu beachfront property struggled to attract the buyer. 

Fresh reports cite that Kanye's team, including realtor and Selling Sunset star Jason Oppenheim, have now secured a deal with a California-based real estate crowdfunding firm, Belwood Investments. 

Belwood's CEO, Bo Belmont, has also announced plans to restore the property to its original architectural vision, which was originally designed by renowned Japanese architect Tadao Ando.

He is willing to invest an additional $5 million to preserve the unique design, calling it a 'phenomenal real estate investment' and an opportunity to maintain a 'jewel of Malibu.'