How could Kanye West ever top the $1 million check and part-ownership stake in Yeezy that he gave Kim Kardashian West for Mother's Day earlier this year? Why, by purchasing his wife a $14 million beachfront condo, of course!
Both Page Six and TMZ confirm that the Wests are currently finalizing the sale on a unit in Miami Beach luxury high-rise building Faena House, which has also come to be known in recent years as the "Billionaire Beach Bunker." Kanye reportedly toured the condo while he was in town for Art Basel earlier this month, made an offer (scheduled to close in January), and presented the property to Kim on Christmas Day.
The condo, which previously belonged to entertainment exec Alex Blavatnik, spans 4,7000 square feet and features four bedrooms, five and a half bathrooms, and a massive terrace overlooking the beach; the building's amenities include a private gym, pool, spa, and underground parking. Though $14 million could hardly be called a steal, the Wests are actually getting a bit of discount on the property, since Blavatnik, brother of Faena House co-developer and energy billionaire Len Blavatnik, reportedly initially listed the condo for $15.5 million.
The Wests will be in quite ritzy company in the opulent 18-story building: Their neighbors will include Goldman Sachs chairman Lloyd Blankfein, Lionsgate chairman Mark Rachesky, and hedge fund billionaire Ken Griffin. However, many of Faena House's tenants haven't lasted long. As The Wall Street Journal reported in November, real estate developer Edward J. Minskoff, art dealer Larry Gagosian, and investor Leon Black have all offloaded their Faena House properties in recent years, the latter two for millions less than their purchasing prices. Griffin, too, reportedly listed his two units in the building in 2016—mere months after he set a Miami real estate record with their purchase—for several million dollars more than their original price, but recently took them off the market. Hopefully, the Wests are prepared to dive headfirst into the rollercoaster ride that is the Miami-Dade County housing market.
Kanye's over-the-top Christmas present may have blown Kim's right out of the water. Though neither has shared exactly what they gifted one another earlier this week, in a recent post on her (soon-defunct) app, Kim listed potential gifts for the men in her life, including a $1,500 chess set, a $600 laptop case, and $160 AirPods. All luxurious and unnecessarily pricey, to be sure, but no multi-million-dollar vacation home.
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