Newport Beach, Calif.-based Belwood Investments is set to close on an oceanfront Malibu property, near Los Angeles, designed by legendary Japanese architect Tadao Ando. Of 24844 Malibu Road, original owner Richard Sachs, an art collector and financier, said: “This is like a Picasso, a cubist painting, very important and very rare.”
With four bedrooms and five baths, the architectural cast-in-place concrete masterpiece was completed in 2013, sold at a premium, but listed earlier this year at a reduced price due to unfinished work and damage. Belwood Investments secured a contract in the $20 million range and plans to invest upward of $5 million over a 12- to 16-month renovation 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 by the renowned Tadao Ando, ensuring it remains a jewel of Malibu,” says Bo Belmont. “This acquisition 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 and innovative designs. His work is characterized by simplicity and clarity, emphasizing the beauty of raw concrete and natural light. He often integrates elements of nature into his projects, creating a harmonious relationship between the built environment and outside world. Among his notable works are the Jay-Z and Beyonce Malibu estate; Modern Art Museum of Fort Worth, Texas; Pulitzer Arts Foundation, St. Louis; Church of the Light, Osaka; and, Naoshima Contemporary Art Museum Annex, Japan.
