Just over a month after buying a lavish Miami condo for a cool $14 million, Kim Kardashian and Kanye West are now backing out of the deal.
The couple reportedly decided that they decided to pull out of the deal at Miami’s Faena House, after deciding their money would be better spent at a property that was more ‘private and secluded,’ according to TMZ.
The power couple are now reportedly eyeing real estate properties in the Bahamas and other more tropical locales after the Miami deal fell through.
The couple are reportedly looking for a piece of property that the whole family can enjoy, including kids North, 5, Saint, 3, and Chicago, 1.
They will reportedly lose the $600,000 down payment they spent for the condo at Faena House, which has been dubbed the ‘Billionaire Beach Bunker.’
The property, which is 18 stories tall and beach-adjacent, is home to one-per-centers like Ukrainian oligarch Len Blavatnik, Goldman Sachs tycoon Lloyd Blankfein and hedge-funder Ken Griffin.
The unit is 4700 square feet and reportedly offers up four bedrooms, five and a half baths and a ‘wraparound terrace.’
The condo was originally on the market for $15.5 million, but it seemed the power couple managed to talk their way down to $14 million.
The condo was a Christmas present from Kanye to Kim, with the original report from Page Six, just two days after Christmas, reporting the sale was expected to close in January.
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One of the other reasons the couple reportedly backed out of the deal was because it wasn’t secluded and private enough.
A TMZ source revealed that, after Kim and Kanye were photographed kissing on the balcony of their new pad in early January, they realized the place wasn’t right for them.
The source said the Faena House condo, ‘lacked privacy for them and their fam,’ which lead them to move on.
The Kardashian clan does have a connection to Miami, since it’s where one of Kim, Kourtney and Khloe’s first DASH storefront stores opened.
Still, all of their DASH stores closed in 2018 for the sisters to focus on different ventures.
Meanwhile, Kanye West is a huge fan of the Art Basel art fair which takes place in Miami every December.
While it’s not clear what Kim and Kanye plan to do with the new property, surely their neighbors hope they keep the partying to a minimum.
They recently went all out for their holiday party, decking out their entire property in Hidden Hills with snow.