According to multiple outlets, notably TMZ, Kanye West just paid $35 million in an off-market deal for a mansion in the gated community of Beverly Park. The purchase comes just one month after Kanye sold a mansion in Malibu for $21 million. And while that may sound like a huge win, he actually LOST $36 million on the sale. And that doesn't include renovation costs, property taxes, insurance, etc during the time he owned the property. Hopefully, Kanye will have more luck with Beverly Park.
In case you're unaware, Beverly Park is a 325-acre gated community high up in the hills above Beverly Hills. If you are a billionaire and you want to have a home in Los Angeles, this is where you want to buy. Because it is an extremely private and secure gate-guarded community, over the decades Beverly Park has attracted some of the most famous celebrities on the planet.
The mansion Kanye just bought has an interesting history that includes a one-time nude magazine kingpin and a Saudi billionaire.
Situated on 6.8 acres, the home Kanye just bought for $35 million was built in 2000. The primary mansion spans 20,000 square feet with 11 bedrooms and 18 bathrooms. The monthly HOA fee is $3,300. Here is a video tour from when it was listed six years ago:
"Perfect 10 Mansion"
Kanye's new abode was once known as "The Perfect 10 Mansion" because it was commissioned by entrepreneur Norm Zada. Zada is a math genius who, after earning a degree from UC Berkeley, went to work at IBM. He then became a mathematics professor at Stanford. He switched to Columbia. Then UCLA. Then, UC Irvine. On the side, he was a semi-professional backgammon player. In the 1980s, he became a money manager. In 1996, Norm founded "Perfect 10" magazine. According to legend, he founded the magazine after a girlfriend's photos were rejected by Playboy Magazine because she was not "ample" enough. As the name suggests, Perfect 10 exclusively featured nude photographs of women who had not had any plastic surgery.
Zada sold his Beverly Park mansion in 2010 for $16.5 million to a Saudi billionaire named Saleh Abdullah Kamel. Kamel was one of 200 Saudi businessmen who were detained in November 2017 at the Ritz-Carlton in Riyadh over corruption charges. At his peak, Kamel was worth $10 billion. Like many of the detained Saudi businessmen, he allegedly relinquished a large portion of his empire to arrange his release. It's not clear that he was still a billionaire when he died in May 2020. A month after his death, the home was listed for $32.5 million. His estate eventually accepted $24.5 million in 2022. I could not determine with 100% certainty the identity of the buyer in 2022.
And now Kanye is the latest owner, having apparently paid $35 million in an off-market deal. He joins a long list of current and former Beverly Park residents that includes:
- The Rock – who bought comedian Paul Reiser's mansion for $28 million.
- Sylvester Stallone – who sold his mansion to Adele for $58 million.
- Denzel Washington
- Eddie Murphy
- Justin Bieber
- Rod Stewart
- Steve Harvey
- Samuel L. Jackson
- Magic Johnson
- Mark Wahlberg
Mark Wahlberg became a Beverly Park property owner in 2009 for $8.25 million. At the time, his property was an undeveloped 6.2-acre lot. Over the next four years, he spent $20 million constructing a 30,500-square-foot mansion with 12 bedrooms, 20 bathrooms, a home theater, tennis court, grotto pool, two-story library (rarely used), skate park and a five-hole golf course. Mark listed his mansion for sale in April 2022 for $87.5 million. He finally sold it in February 2023 for $55 million. Mark's former mansion is located right next door to the property that Kanye just bought.
