Kim Kardashian West and Kanye West are taking a huge hit after pulling out of a Miami real estate deal.

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TMZ and Page Six are both reporting that the couple have backed out of a $14 million deal to purchase a 4,700-square-foot beachfront luxury condo located in the 18-story Faena House, which has been nicknamed the "billionaire beach bunker." It's the property that Kanye bought his reality TV star wife as a 2018 Christmas gift.

Sources told Page Six that Kim wasn't super-happy about the multi-million-dollar surprise present and told her rapper-designer husband that she wanted him to cancel the deal, which means he's losing a $600,000 deposit -- a figure also reported by TMZ.

But Page Six also reports that it's heard Kanye is claiming he's changed his mind about the purchase because of concerns over sale information leaks. That reasoning doesn't make sense, the New York Post's gossip column adds, since Kanye rolled up to the property to buy it knowing that his entourage, a film crew and paparazzi were right there documenting everything.

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TMZ, meanwhile, reports that the couple have decided to instead spend their money on a getaway home that's more private and secluded and are looking "in the Bahamas and other tropical destinations ... and they want something the whole family can enjoy."

Kim and Kanye were photographed hugging and kissing on the balcony of the Miami condo on Jan. 4, when Kim visited to check out her holiday gift.

The property has four bedrooms -- not enough to house their growing brood, as they're expecting their fourth child and second via surrogate in a few months -- plus five and a half bathrooms and building amenities including a private gym, spa, pool, concierge and underground parking.