Foreclosure Auction of Kanye West’s $40 Million Malibu Beach House ‘Delayed in Bankruptcy Filing’

Malibu beach house foreclosure sale Kanye West has reportedly been pushed back a few weeks due to a last-minute bankruptcy filing.

The property, which was last listed at $39 million, was due to go up for auction today after its current owner, a developer. Stephen ‘Bo’ Belmontwas accused of breaching an $18.5 million loan that was purchased to buy a home, which he bought for $21 million in September 2024.

However, according to the New York Post, the property – and its owner – were given a short time in the disclosure auction when a bankruptcy action was filed against the property, which made the sale of the property back on April 7.

“The reasons behind this move, and who made it happen, were not yet clear,” said the source.

The auction was supposed to be held at the Civic Center Plaza in Pamona, CA, at 10 a.m. local time on March 19, The Wall Street Journal first reported, however it appears to have been delayed at the last minute.

As first revealed by Realtor.com®, Belmont was served with a notice of default in November 2025 when its lender, Quality Loan Service Corp, accused its company, Belwood Investments, of falling behind on mortgage payments, saying the developer currently owes $814,623.54 as of November 4, 2025.

In an automated notice, Belmont was warned that he was risking losing the house—which was designed by a Pritzker-winning architect. Tadao Ando-if he failed to receive payments within 90 days.

In an interview with the Wall Street Journal earlier this month, Belmont revealed that he was in a hurry to renovate the house before it was sold under him, stressing that he refused to lose the house he had spent so much time and money on.

“I won’t let that happen,” she said. “There’s too much on the line.”

However, he admitted that his efforts to refinance the property have hit a snag due to its unique ownership structure; when Belmont first bought a house in West, 48, he offered it as an investment opportunity, where a lot of people offered different amounts of money to help him buy and restore the famous residence.

Those who had invested in the property received a letter in February notifying them of the imminent sale, in which the remaining balance on Belmont’s mortgage was said to be close to $21.1 million.

Belmont sought a workaround by creating an LLC that included all of his investors as members—though he admitted the process was not easy.

“Getting 382 people to sign without everybody else is very difficult,” he told the Wall Street Journal.

The delay in the foreclosure auction is the latest in a long line of scandals at the blighted property—and comes just days after West was ordered to pay $140,000 in damages to a former employee who rehabilitated the property.

West purchased the beachfront property for a staggering $57.3 million in September 2021, before hiring a rare record seller named Tony Saxon-non-licensed contractor-doing home repairs.

In just a few months, almost everything inside the place had been torn out, including the windows and all the interior woodwork, as well as the electricity and plumbing, a move that sparked outrage among the architects, who criticized the West for destroying such a valuable asset.

West continued to fuel that anger in January 2024, when he put the residence on the market for $53 million, seemingly abandoning his plans to transform the home into a modern home — but not before Saxon sued him in 2023, claiming he suffered multiple injuries while working on the home, including a broken neck.

The case was recently heard in court, where Saxon’s lawyer made strange allegations about West’s unusual demands on the property—namely, that all the toilets be removed.

“He didn’t want toilets,” the lawyer saidRon Zambranosaid, according to Rolling Stone, adding: “If people had to go to number 2, it was a hole in the ground.”

Zambrano added that West told his client—who said he owed $1 million in wages and expenses for the project—he wanted to turn the property into an “off-grid shelter.”

Saxon, who wanted $1.7 million, further stated that the rapper wanted him to live in the house while the guts were being blown up and was asked to complete the work without the necessary permits.

However, a Western lawyer, Andrew Cherkaskythrew a tantrum at what Saxon said—while accusing him of lying to the rapper about having a license when he didn’t. In addition, Cherkasky insisted that Saxon was never employed by the West, but treated as a contractor.

“That’s what anyone doing a remodel or a construction job does—bring your tools, your guys,” he said, adding that West’s only goal in remodeling the home was to turn it into a unique living space for his family.

Regarding Saxon’s allegations that he sleeps in an empty house, Cherkasky insisted that the employee did it himself.

The rapper’s remodel of the residence was reduced to little more than a concrete shell, destroying almost all of Ando’s original design—and leaving design enthusiasts up in arms over its destruction.

He then sparked outrage when he completely abandoned his plans for a beachfront residence and put it on the market in January 2024 at a price tag of $53 million, enlisting a celebrity real estate agent.Jason Oppenheimto help him release the bare bones at home.

When it was put on the market, the home had no electricity, no plumbing, no windows, and no interior woodwork, all of which had been removed during the “renovation” of the West.

So it’s no surprise that West couldn’t secure anything close to his original asking price, eventually accepting an offer of $21 million from Belmont—who had owned the home for a few months before trying to find a buyer.

While the developer had initially received an offer from a group of investors led byAndrew Mazzellathat deal fell through, prompting Belmont to relist the home at a reduced price of $34.9 million.

Speaking to Solezwe where the sale was delayed, Mazzella—who agreed to become an investor in the property after his bid to buy it was unsuccessful—stated that he grew “concerned” about the price the house was being offered when it was sold.

He noted that little has been done to improve the shell left behind by the West, which led him to reconsider the value of the property.

“As the investigation started, we were worried about the amount I was in,” he said. “We just realized what still needs to be done and the potential problems we’re seeing now, they really need to try to lower the price a little bit.”

If that happens, he said he’s still eager to buy the property—which is why he went to the auction to bid.

“I would still like to buy it,” he said. “I’m just drawn to very difficult projects, difficult for some reason … it’s just another day, like there’s always a way to find a solution.”