Billionaire real estate developer Rick Caruso listed this traditional-style mansion in Malibu this week with a $40 million asking price. The 7,264 sq. ft. home boasts a winged design, a white brick lower level and clapboard upper level, a Juliet balcony as a central point of reference, and casement windows with storm shutters.

An unusually bewitching entry begins this home: a vestibule precedes the foyer, with a black-and-white harlequin marble floor and a sandstone wall fountain. More black and white tile in the foyer—though the tiles are larger—as well as a curving staircase and a second waiting area, while the main living spaces represent a further evolution still.

The house is wide compared to its neighbors, and its design and layout differ markedly from many of the homes that dot Malibu’s beaches. The living areas overlook the beach with sunrooms and fold-away glass walls, opening onto upper and lower decks. They also open to an interior courtyard, where a lap pool, a deck, and a wet bar comprise a little oasis in the middle of the ground floor.

The kitchen is tastefully executed, with a farmhouse sink and a T-shaped island with marble and polished hardwood caps and a shade of dark gray-blue that contrasts beautifully with the dark yellow of the built-in shelving behind. The staircase rises to a dome ceiling which is lighted by clerestory windows; a large master, one of five bedrooms, takes the lion’s share of one wing of the upper level.

A gem.

Caruso’s net worth is around $4 billion.