This Richard Meier-designed home in Malibu is currently owned by billionaire Eli Broad, and is available for a reduced $62 million asking price. The property first hit the market for $75 million.

The high modern home sits on a half-acre lot overlooking carbon beach. It dates to 2002, measures 5,374 sq. ft., and contains five bedrooms and seven baths.

The beach-side face of this house features a long first floor deck, a pair of upper-floor terraces, industrial-inspired balustrades, and massive panes of glass; a panel attached to one upper-floor balustrade drives home the formal division into quarters. The impression from the street is of symmetry, geometric preoccupation, and a concentrated form of the cerebral optimism peculiar to the modern style. On one side of the home, a bit of streamline design influence sneaks in.

Inside the home, an astonishing moment of liberation awaits in the progression of the common area, with the living room’s soaring ceiling a breathtaking evocation of space and scale. Maple floors, a sculpted concept ceiling, and sliding glass present the living style as warm, incredibly refined, and grounded in a sense of continuity and certainty.

Surprisingly, there is a guest house on the property. It mirrors the style of the main house, and stands as a reprise to the home’s stylistic motifs.

Broad’s net worth is around $7 billion.