Sources: Belwood Investments, Newport Beach, Calif.; CP staff
An investor is set to acquire 24844 Malibu Road, a southern California oceanfront residence designed by legendary architect Tadao Ando. Substantially completed in 2013 but compromised by subsequent work, the home embodies 600-plus yards of concrete on a 4,000 sq.-ft. floorplate. Belwood Investments secured a contract for the Malibu property in the $20 million range and plans to invest upward of $5 million over a 12- to 16-month restoration window. Work will honor the architect’s unique materials and design elements sourced the world over.
“This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem, ensuring it remains a jewel of Malibu,” says Belwood CEO Bo Belmont. “This exemplifies our commitment to transforming properties with historical and architectural significance while delivering exceptional returns for investors.”
Born in Osaka, Japan, Ando is a self-taught architect celebrated for minimalist designs emphasizing the beauty of raw concrete and natural light. In addition to 24844 Malibu Road, his notable works include the Jay-Z and Beyonce Malibu estate; Modern Art Museum of Fort Worth, Texas; and, Pulitzer Arts Foundation, St. Louis.