Every year, as the holiday season draws to a close, stores are inevitably flooded once again, this time not with shoppers, but with the dissatisfied recipients of their purchases. This time around, that gift-exchanging bunch was joined by one Kim Kardashian West, though she'll hopefully get more than just store credit for returning the $14 million Miami condo Kanye West bought her for Christmas.
According to Page Six, West recently pulled out of the purchase before it was completely finalized; he'll reportedly only lose his $600,000 deposit. Various sources told the outlet that Kimye scrapped their plans to move into the beachfront Faena House luxury high-rise because Kardashian "wasn't so happy" with the purchase or because West didn't appreciate having the details of his real estate portfolio leaked to the press.
A representative for the rapper, however, issued a statement to Page Six, saying, "None of those reasons mentioned [for pulling out of the purchase] are true. When Kim and Kanye went to Miami to view the condo together after Christmas, Kim loved it, but felt it was not private enough for them. They are now looking for a vacation home that is more secluded and offers much more privacy for their family."
Multiple outlets reported in late December that West had put down a deposit on a unit in Faena House after touring the property while he was in town for Art Basel earlier that month. The 4,700-square-foot condo features four bedrooms and five and a half bathrooms, plus a private terrace facing the beach. Despite the building's many ritzy amenities—including a private gym, pool, spa, and underground parking—the Wests aren't the only high-profile clients to have backed out of a sale in the so-called "Billionaire Beach Bunker." Per recent reports from The Wall Street Journal, former owners like real estate developer Edward J. Minskoff, art dealer Larry Gagosian, and investor Leon Black sold their Faena House condos not long after signing on the dotted line, some for millions of dollars less than what they paid.
Whatever the real reason for Kardashian and West's relinquishing their stake on the property, whether privacy or just blatant dislike of the condo, it's possible that they also needed more room than what Faena House could offer them. With their fourth child on the way, perhaps the family decided against cramming six people into four bedrooms and a measly 4,700-square-foot space (the horror!) every time they want to take a trip to the beach. The sprawling suburbs of Chicago and wide open spaces of rural Wyoming (two of West's favorite places) are probably looking extra enticing now as the pair prepare to add yet another person to their entourage.