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Bizarre California Compound, Built on Spec, Tries for $36M

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Location: Carmel, Calif.
Price: $36,000,000
The Skinny: Built on spec to designs by architect Ron Mann, this 12,500-square-foot hilltop mansion is a far cry from the typical spec house. The idiosyncratic design hardly appeals to a broad range of buyers, but, then again, there isn't a huge pool of buyers waiting to shell out $36M for a (presumably) second home. Set under three Corten steel roofs—hence the name, Tres Paraguas—the sprawling compound consists of five independent structures, housing four bedrooms and eight bathrooms, oriented around a swimming pool and staggering views of Monterey Bay. The 4.75-acre estate includes a half-acre courtyard and ample parking.

· Tres Paraguas [Sotheby's International Realty via Homes of the Rich]