Kanye West’s former Malibu home is facing foreclosure

Kanye West tore apart his former Malibu mansion in preparation for doomsday — and a series of calamities have struck the high-profile home ever since. 

The troubled seaside manse is facing foreclosure, Realtor.com reported. Its current owner, Belwood Investments, allegedly owes its lender more than $814,000 in missed payments as of early November.

Belwood is cooking up new plans to turn a profit on the home as a timeshare-like property, backed by cryptocurrency investments. 

The real estate crowdfunding firm, helmed by Steven “Bo” Belmont, purchased the Tadao Ando-designed home from West in September 2024 for $21 million. The sale was a shadow of the $57.3 million sum that West, who legally changed his name to Ye, paid for the more than 4,000-square-foot home in 2021.

The controversial rapper appeared to have abandoned the the architectural gem by the end of 2022, leaving the home, known as Little Ando, open to the elements. West attempted to find a buyer in early 2024 for $53 million, but was forced to settle for $35 million less.

Belwood initially planned to restore the modernist home to its former glory, but a series of unsuccessful listings and a failed sale have left the home’s fate in limbo.

Their lender, Quality Loan Service Corp., served Belmont with a notice of default on a $18.5 million mortgage in early November, according to county documents. The lender alleged Belmont’s company was behind on roughly $814,623 in payments.

Belmont has 90 days from the notice to catch up on his payments or risk foreclosure, Realtor.com reported. 

Belmont told The Post he anticipates a resolution soon.

“The goal has been, and will continue to be, to renovate and sell the home,” Belmont said in an email. “There have been some delays, but overall, we are still aligned.”

Belmont, alongside several partners, recently launched Populis, a private membership program that sells investment opportunities in architecturally significant real estate. Populis members can purchase a stake in Little Ando through SmartDeeds, which are described as blockchain-secured membership passes. Membership tiers start at just $1,000.

Populis promises investors access to the property via guided tours, architecture briefings and networking events. Its highest membership tier, at $300,000, advertises private estate sessions and half-day hosted experiences at the home. 

Listing agent Timothy Di Prizito, of Christie’s International Real Estate, told Realtor.com that the foreclosure would seriously halt progress with Populis program.

The SmartDeeds website currently predicts the renovation work will take 12 to 14 months to complete, predicting its “after repair value” to be $57.5 million.

A high-tech timeshare wasn’t always the plan. 

Belwood relisted the home, half-restored, for $39 million in March, hoping to make an early profit for its investors. The firm has already spent millions undoing West’s damage. 

After West purchased the home, he went about a radical plan to turn it into a personal, off-the-grid bunker, disconnecting it from electric, plumbing, windows and all interior finishes. 

The firm’s months of work reportedly included new plumbing and electric, redoing the roof, completing framing and ordering glass windows from Germany. 

After a subsequent price cut, Belwood Investments appeared to have found a buyer in developer Andrew Mazzella’s investor group. That deal fell through this summer with a flood of accusations on both sides. Belmont alleged Mazzella was unqualified for the massive deal and unable to obtain financing despite extensions, while Mazzella accused Belmont of misleading him about restoration costs.

There are only a handful of residences designed by Ando, a Pritzker Prize-winning architect who hails from Japan, in the United States. A larger design, known as Big Ando, was purchased by Jay-Z and Beyonce in 2023 for a record-setting $200 million.