The $57 million beachfront house is left to rot after Yeezy Construction Inc. was quietly dissolved in late 2022 amid the Atlanta-born rapper's financial struggles.
- May 29, 2023
AceShowbiz - Kanye West may have forgone his dream to enjoy a beach view from his $57 million Malibu mansion. The beachfront house has been abandoned as his construction company was shut down amid his financial struggles.
Ye purchased the trendy home in September 2021. The property was supposedly meant to be "part house, part sculpture" and designed by celebrated architect Tadao Ando.
He then canceled contractors working on the Japanese-inspired property. Now, the halted project has been completely gutted mid-renovation as his construction company Yeezy Construction Inc. was quietly dissolved in November 2022, according to The Sun.
Ye is now focusing on another project as he has begun a renovation on a 7,400-square-foot showroom on Melrose Avenue in Los Angeles. Initial reports said that the leased space was going to be a new store selling Kanye's merchandise, but it has since been re-purposed as a Yeezy HQ.
"The vision for its use has changed to being multi-purpose, it's not just going to be a store," a source spilled to the news outlet. "Ye has been hosting parties for three weeks in a row at the venue and giving away sample pieces for his latest collection."
Ye claimed he lost "$2 billion in a day" when he was dropped by multiple brands following his anti-Semitic remarks. He was dropped by Adidas last October and is currently facing a $2 million lawsuit by his former Gap Inc. over an alleged breach of contract.
The suit stems from the renovation on the leased property in Los Angeles. According to the suit, the "Follow God" rapper modified the building without permission. Gap is requesting Ye to cover the bill for any "damages" to the property, at 1360 E. 6th St.
The lawsuit, which was filed in L.A. court in April, reads, "By making and not repairing or restoring the foregoing alterations of the premises that [West] made without Gap's participation or approval, [West] breached the strategic agreement and directly and proximately caused Gap to incur expenses to repair and restore the premises."
Gap is being sued for $1.5 million by Art City Center, a company that owns the building in downtown L.A. that was leased to Gap as a storefront for Ye's Yeezy clothing line. As part of their agreement, it was said that Gap wasn't allowed to modify the building without permission. The clothing brand tried to pass the blame to Ye, insisting that the Chicago star made the changes without their approval.
