NEWPORT BEACH, Calif., Aug. 7, 2024 /PRNewswire/ — Belwood Investments is thrilled to announce it is under contract to acquire the distinguished property located at 24844 Malibu Road, Malibu, CA. Originally constructed for art collector and financier Richard Sachs, this architectural masterpiece was designed by legendary Japanese architect Tadao Ando and completed in 2013. The property was sold in 2021 for $57 million. Due to unfinished renovations and subsequent damage, it was recently listed at a reduced price of $39 million. Following aggressive negotiations with The Oppenheim Group, Belwood Investments’ CEO, Bo Belmont, secured the property for under $22 Million.
“We are incredibly excited about the acquisition of this property,” says Belmont. “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. This acquisition exemplifies Belwood Investments’ commitment to transforming properties with historical and architectural significance while delivering exceptional returns for our investors.”
Belwood Investments plans to invest approximately $5 million in renovations to restore the property to its original state. Restoration will honor the unique materials and innovative design elements specified by Ando, many of which were imported from around the world. The renovation process is anticipated to take 12-16 months.
About Tadao Ando
Born in Osaka, Japan, Tadao Ando is a self-taught architect celebrated for his minimalist and innovative designs that are distinguished by the use of concrete, light, and space to create serene and contemplative environments.
Ando’s work is characterized by simplicity and clarity, emphasizing the beauty of raw concrete and natural light. He often integrates elements of nature into his buildings, creating a harmonious relationship between the built environment and the natural world. Notable works include the Church of the Light in Osaka, the Naoshima Contemporary Art Museum in Japan, the Pulitzer Arts Foundation in St. Louis, Missouri and Jay-Z and Beyonce’s Malibu estate. Among his numerous accolades are the prestigious Pritzker Architecture Prize (1995) and the American Institute of Architects Gold Medal (2002).
About the House
The property at 24844 Malibu Road is an architectural marvel constructed with over 1,200 tons of concrete and 200 tons of reinforced steel. It is built atop the sand, supported by 12 massive caissons driven 60 feet into the bedrock. The home spans just over 4,000 square feet, featuring 4 bedrooms and 5 baths. It blends modern minimalism with luxurious details, characterized by clean lines, open spaces, and an abundance of natural light.
The property offers breathtaking ocean views and seamlessly integrates indoor and outdoor living. High-end materials and finishes are evident throughout, with spacious living areas, a gourmet kitchen, and elegant bedrooms. Expansive glass walls provide panoramic vistas of the Pacific Ocean, creating a serene and sophisticated ambiance.
Richard Sachs, the original owner, aptly described it: “This is not just a house; this is like a Picasso, a cubist painting, very important and very rare.”
Revolutionizing Property Investment for All
Belwood Investments is a real estate investment company that democratizes property investment by allowing non-accredited individual investors to participate with as little as $1,000 through the Belwood mobile app. Investor funds are secured through a deed of trust, ensuring a transparent and secure investment process. Upon completion of renovations and the subsequent sale of properties, Belwood shares the profits with its investors, consistently delivering high returns in short periods.
Bo Belmont, who has nearly 20 years of experience in flipping homes, founded Belwood Investments in 2018 to make real estate investment accessible to the masses. Bo Belmont and Belwood have been involved in more than 1,000 property transactions, generating substantial returns for its investors. Initially based in Folsom, CA, Belwood has expanded its operations to Southern California, with a recent relocation to Newport Beach, CA, at 2429 West Coast Highway, Suite 208, Newport Beach, CA 92663.
With its expansion into the luxury real estate market, Belwood has acquired several high-end properties in Beverly Hills and the Hollywood Hills. These properties are nearing the end of their renovation processes and are expected to hit the market during the summer of 2024. These luxury acquisitions enable Belwood to attract a larger pool of investors and deliver even greater returns.
The acquisition of 24844 Malibu Road represents a landmark achievement for Belwood Investments, being the most costly and prestigious property in the company’s portfolio to date. The property’s rich history and the involvement of world-renowned architect Tadao Ando ensure it will attract substantial attention and interest.
For more information about Belwood Investments, please visit www.belwoodinvestments.com.
Media Contact:
David Contreras
833 826 8366
[email protected]
SOURCE Belwood Investments
Originally published at https://www.prnewswire.com/news-releases/belwood-investments-acquires-iconic-malibu-property-designed-by-tadao-ando-302216871.html
Images courtesy of https://pixabay.com
Art - Purple Foxy Ladies originally published at Art - Purple Foxy Ladies
