Kanye West Is Selling His Massive Wyoming Ranch for $11 Million – Potentially at a Huge Loss

Kanye West is parting ways with his ranch near Cody, Wyoming.

The Yeezy designer, 44, has listed the property for $11 million, PEOPLE confirms.

The 4,000-acre property has panoramic views of the surrounding Rocky Mountains, just 52 miles from Yellowstone National Park. TMZ previously reported that the huge chunk of land cost the rapper $14 million.

At the time, a source told PEOPLE that the ranch was previously known as "Monster Lake Ranch." When West took over, he renamed the property West Lake Ranch, though he also referred to it as "Yeezy campus."

This isn't the Donda rapper's only property in Wyoming. Just three months after purchasing the ranch in Cody, he picked up a second in Greybull for the same price.

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RELATED: Kanye West's Plans for $14 Million Wyoming Ranch Include a Skate Park and a 'Urine Garden'

In a profile for the May 2020 cover of GQ, the rapper and fashion designer revealed some of the plans he had for the two mysterious properties.

On one edge of the 4,000-acre property near Cody, West said he had begun digging for a project that will be "the size of a spaceship."

He also spoke about creating "dome dwellings" that were meant to bring guests to the ranch and house performances of his Sunday Service Choir.

Neil Mockford/GC Images

"We see 100,000 students singing these compositions," West said at the time. "A circular 100,000-person amphitheater."

For the project, West had enlisted some famous architects, including Belgian interior designer Axel Vervoordt, who helped create the Hidden Hills, California, home that West shares with his estranged wife Kim Kardashian West.

Kardashian West has previously described the Hidden Hills home as "like a minimal monastery."

RELATED VIDEO: Kim Kardashian and Kanye West Show Off Their 'Futuristic Monastery' Mansion — See Inside!

RELATED: Kanye West to Build 'Something the Size of a Spaceship' on Wyoming Ranch, Plus More Revelations

Prior to listing the Cody property, West installed a music studio above the "eating cabin," and had brought a fleet of vehicles to the property, including Ford F-150 Raptor pickup trucks, ATVs, UTVs and his "tank," all painted in matching matte black.

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While West is saying goodbye to one property, he also recently purchased another. Last month, a source told PEOPLE that the rapper recently bought a new beachfront Malibu property for nearly $60 million.

"With views of the Pacific Ocean, the house has straight angles … with an emphasis on light. It clearly takes a very specific buyer to appreciate this home," the insider said. "It was on the market … for over a year before Kanye bought it. It's perfect for Kanye … He is very happy to be the new owner of this incredible house."