The Southern California waterfront estate of exec and erstwhile Disney CEO and Chairman Michael Eisner is on the market this spring with a reduced asking price of $195 million. Eisner first floated the property in the spring of last year at $225 million.

The property is one of the more remarkable in the Malibu area. Eisner began his journey on the spot about four decades ago, and over the intervening years added adjacent properties as they became available. As it currently stands, the estate occupies almost five acres between Nicholas Canyon and Lachusa Canyon.

The main house and the property’s guest houses — there are at least three lesser residences, each at a judicious remove from its siblings — represent alternative but connected narratives. The main house is a Robert A.M. Stern-designed pastiche of Mediterranean elements (the materials list includes reclaimed clay roof tiles shipped from the Old Country) with 25,000 sq. ft. to its credit.

The guest houses are each a story, and an atmosphere, unto themselves. Highlights include the post-and-beam design with the hexagonal cupola foyer, and the beach cottage that appears to have been transplanted from 1930s Cape Cod. All told, there are sixteen bedrooms and twenty-two baths on the property.

Scattered among the various residences are the single-use specialty buildings, including a movie theater that can be accessed through an underground passage; for lovers of sand and surf, a specially-designed elevator offers passage bluff-to-beach.