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Published: Feb 07, 2019 2 min read
Florida, USA. 5th Jan 2019. Kanye West and Kim Kardashian (KimYe) have bought into the 18-story luxury beachfront tower Faena House,  seen here designed by Norman Foster and home to masters of the universe including Goldman Sachs chairman Lloyd Blankfein,
Photo illustration by Sarina Finkelstein for Money; (Faena House) Storms Media Group—Alamy; (Kanye) Roy Rochlin—Getty Images

Sometimes Christmas gifts just don't work out. Unfortunately for Kanye West, it's hard to return a multimillion-dollar condo.

A condominium listed for $15.5 million at Miami's Faena House is back on the market after the musician backed out of the sale — a move in the interest of privacy that reportedly cost him his deposit of around $600,000, according to Page Six. "It was not private enough for them," a West representative told the outlet.

News of West's interest in the 4,700-square-foot spread, part of the so-called "Billionaire Beach Bunker" that serves as a summer home to CEOs and banking executives, broke shortly after Christmas. The musician reportedly agreed to pay $14 million for the condo in the luxury building as a Christmas gift for his wife, Kim Kardashian West. Several days later, the pair were photographed by paparazzi at the property, which comes with four bedrooms, five-and-a-half bathrooms and an oceanfront balcony.

“It was just not a good fit for the family," a source told PEOPLE. "It’s not private and not enough rooms for other family guests."

While $600,000 sounds like a lot of money to lose — and, indeed, that deposit alone could buy about two average houses — it's not a significant chunk of West's estimated $250 million net worth. West and Kardashian's primary residence, located at Lisa Marie Presley's former home in Hidden Hills, is reportedly valued at $60 million.