An architectural gem in Malibu that was purchased, gutted, and then ditched by rapper Kanye West has survived the deadly California wildfires, according to its new owner—less than four months after the musician sold it at a staggering $36 million loss.

The beachfront home, which was originally designed by famed architect Tadao Ando, was bought by West, 47, for the jaw-dropping price of $57.25 million in 2021. He proceeded to gut the property, reducing it to a shell, reportedly in a bid to turn it into a modern bomb shelter.

However, the musician abandoned his plans shortly after tearing the home apart, leaving it empty and exposed to the elements, prompting fury from architecture aficionados the world over.

Despite leaving the property in a horrifying condition, West attempted to recoup a large portion of the money he had invested, initially listing the home for $53 million in January 2024—and even enlisting the help of celebrity real estate agent Jason Oppenheim. But even the “Selling Sunset” powerhouse struggled to find a buyer for what was essentially a husk of a once-beautiful home.

The price was reduced to $39 million in April of that year—and three months after that, an offer was pending. Developer and real estate investor Steve “Bo” Belmont, of Belwood Investments, was revealed to be the buyer, having paid a relatively low $21 million for the iconic property. He later revealed he planned to restore it to its original glory.

However, questions about the safety of the property were raised in the wake of the Palisades fire, which decimated dozens of homes in the Malibu area, including an $8.4 million beachfront home owned by Paris Hilton.

The fires began on Jan. 7 and quickly spread across Los Angeles, tearing through more than 40,000 acres, according to Cal Fire. The Palisades fire, which was the first and largest of the seven blazes that were sparked over a three-day period, is currently at 14% containment.

Now, Belmont has issued an update on the home, revealing that it has survived the deadly blaze, along with “all” of the other properties currently owned by the company.

“Dear investors and partner,” he began in a video posted to the Belwood Investments Instagram account. “I’m relieved to report that, as of now, all of our properties in West Hollywood and Malibu have remained untouched by the wildfires.”

He noted that all of the workers who had been taking part in the renovations on these properties—including the extensive rebuild on West’s former Malibu house—are currently “safe and on standby,” and will resume construction on the properties “as conditions permit.”

“We’re committed to ensuring the safety of our team and the integrity of our projects during this challenging time,” he continued. “Our hearts go out to all of the victims of the fires, and we stand in solidarity with the affected communities. We will continue to provide updates as we navigate the situation and look forward to contributing to the recovery efforts in each area.”

Belmont made headlines around the world when he announced that he had bought West’s former home, while opening up about how he launched his real estate career as a side hustle while serving three years in prison for assault with a deadly weapon.

At the time, the Malibu property purchase represented the largest that Belmont’s company had ever made—and looked to become the most complex and expensive restoration that it would complete.

The original home, which was built in 2013, having been commissioned by its first owner, Richard Sachs, was made out of 1,200 tons of concrete and 200 tons of reinforced steel, which were combined to create an ultramodern 4,000-square-foot abode.

It was built atop sand, supported by 12 massive caissons driven 60 feet into the bedrock.

The minimalist four-bedroom, five-bath home features open spaces, ocean views, and indoor-outdoor living areas.

Belmont previously told Realtor.com® that the company targets luxury real estate and this house “fits all of our criteria.”

“This is a relatively easy project in comparison to our other projects,” he said. “Length of time is 12 to 14 months with a cost projection between $6 million and $8 million.”

Belmont noted that he was not daunted by the state of the home because it was “built stronger than anything I’ve ever seen. We basically just have to put it back together again. The first thing that I plan on doing is starting the construction with the original builders for Richard Sachs.”

He added that he plans to work with architecture firm Marmol Radziner, which worked on the initial build of the house in 2013.

The plan, he said, was to pour millions into renovations to restore the property and then flip it for a profit for his investors—admitting that he was aiming for a 100% return on the home.