The couple backed out of buying a pricey Miami Beach condo
More than a month after PEOPLE reported that the couple was in the process of purchasing a multimillion-dollar condo — which West verbally committed to — in one of Miami Beach’s most exclusive luxury buildings, they have pulled out of the sale.
Although the purchase was intended to be a Christmas gift for the Kimoji creator, she was more than fine with letting the property purchase pass them by, the source says.
“Kim, in general, is not a fan of Kanye making spontaneous multi-million dollar purchases,” says the source, who confirms that “they are not keeping the Miami condo.”
At the end of December, the final price was still being negotiated and the deal was set to close in January, an insider said. The unit, which is located in Faena House, a residential tower directly on Miami Beach near the celeb-favorite Faena Hotel, was initially listed for $15.5 million.
Kardashian West, 38, was willing to move forward with the purchase.
“Kanye was super excited about the condo surprise so she didn’t want to hurt his feelings,” the source says. “Kim did like the condo and went along with it for a while before she put her foot down.”
As to why the couple decided to pull out of the sale, the source says that “it was just not a good fit for the family.”
“It’s not private and not enough rooms for other family guests,” the source explains. “They need a property that’s bigger, more private and preferably a house.”
Privacy and security are deeply important to the couple, who share daughters North, 5, and Chicago, 1, and son Saint, 3, and are expecting another baby via surrogate.
On Oct. 3, 2016, the Keeping Up with the Kardashians star was robbed at gunpoint at the No Address Hotel during Paris Fashion Week, when masked men stole millions of dollars worth of jewelry from her in the middle of the night — including a $4 million ring.
After the terrifying heist, Kardashian ramped up her personal security detail — and made a concerted effort to tone down her look. She swapped out her eye-catching diamonds for a much more subtle wedding band and ditched her chainmail and latex dresses in favor of baggy t-shirts, sweatpants and a fresh, contour-free face.
“It was probably no secret, you see it on the show — me being flashy — but I was definitely materialistic before,” she told Ellen DeGeneres. “Not that there’s anything bad about having things and working hard to get those things — and I’m really proud of everyone that’s around me that’s successful. But I’m so happy that my kids get this me. And that this is who is raising my kids. Because I just don’t care about that stuff anymore, I really don’t.”