Kanye West simply can’t catch a break in terms of that notorious Malibu seaside home he fully destroyed.

The concrete shell that was once a $57 million architectural masterpiece is now being pitched as a members-only timeshare – if the man who purchased it from Ye would possibly lose it to foreclosures. Steven “Bo” Belmont, the developer who scooped up West’s gutted catastrophe for $21 million again in September 2024, has been scrambling to make one thing work with this property ever since.

First, he tried flipping it for $39 million, then dropped it to $34.9 million when no person bit.

In keeping with Realtor.com, Belmont goes full Silicon Valley startup mode with one thing known as “Populis” – mainly turning the place right into a luxurious actual property timeshare the place wealthy of us should purchase “memberships” to get a chunk of the motion.

You’ll be able to drop wherever from $1,000 for a primary “gold” membership to $300,000 for the “Founders Circle” package deal. That top-tier membership will get you chef dinners, concierge service, and 4 personal property periods a yr the place you may carry as much as 12 friends.

However Belmont’s obtained larger issues than determining his membership tiers.

High quality Mortgage Service Corp simply hit him with a discover of default, claiming he owes $814,623.54 on his $18.5 million mortgage as of November 4. He’s obtained 90 days to catch up or threat dropping the entire thing to foreclosures.

Kanye West initially purchased this place in 2021 for $57.3 million, proper after his break up from Kim Kardashian. The Tadao Ando-designed masterpiece was imagined to be his inventive sanctuary, however Ye turned it into his private demolition challenge.

The rap star ripped out all the pieces – plumbing, electrical, home windows, inside finishes – mainly turning a murals right into a concrete bunker. When West lastly gave up on his apocalypse-shelter desires and listed it in January 2024, he needed to accept the $21 million from Belmont. That’s a $36 million loss.

In 2025, West began liquidating properties left. He offered his Wyoming ranch again to the unique house owners for $14 million after letting it crumble, and he’s behind on property taxes for his childhood house in Chicago.

Experiences say he’s “determined for cash” and others declare he shall be bankrupt by the tip of 2026.

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