Rapper-turned-designer Kanye West, now going by the name Ye, is reportedly selling his Tadao Ando-designed Malibu mansion for $53 million, just a few years after purchasing the property for $57.25 million. Financial difficulties and troubles with the extensive renovations are said to have influenced West's decision to part ways with the unique oceanfront abode, even at a loss.

Insiders have revealed that West's cash flow is currently not as smooth as anticipated, prompting the need to let go of the coveted property. The renovation project, which was intended to transform the approximately 4,000-square-foot dwelling, has proven to be more challenging and costly than initially expected.

Jason Oppenheim, of the Oppenheim Group and known for his appearances on "Selling Sunset," shares details about the state of the mansion. The property, yet to be completed, requires significant work such as windows, doors, plumbing, electrical updates, HVAC, and interior finishes. Oppenheim estimates that several million dollars will be necessary to finish the house, describing it as needing a financial rescue.

The mansion, originally designed by Wall Street mogul Richard Sachs in 2013, took seven years to complete. The construction process involved extensive planning, permits, and the use of Pritzker Prize-winning architect Tadao Ando's signature smooth concrete. This imposing structure consists of approximately 1,200 tons of concrete, 200 tons of steel, and 12 pylons driven over 60 feet into the sand.

The three-story dwelling, boasting four bedrooms and expansive windows overlooking the ocean, also features an additional 1,500 square feet of deck space, offering potential as a coastal paradise once it receives its finishing touches.

Unfortunately, West's troubles don't end with the unfinished renovation. There were allegations that the contractor was dismissed for refusing to install generators as an alternative to the home's electrical system due to the risk of fire. West has denied these claims.

Representatives for West have yet to comment on the matter.

In addition to his housing woes, West has faced controversy in the past for making antisemitic remarks, resulting in severed partnerships with major brands like Adidas and Gap. Despite these setbacks, his upcoming album "Vultures" is expected to be released later this month.

While the median home sale price in Malibu experienced a drop of 21.3% in November, reaching $3.5 million, Oppenheim remains optimistic about the market's resilience. He asserts that Malibu has fared better than the city of Los Angeles overall, countering the downward trend.

Interestingly, power couple Beyoncé and Jay-Z recently purchased their own piece of paradise designed by Tadao Ando in Malibu. They acquired an oceanfront mansion for a staggering $200 million earlier this year.