Real Estate Report: Save $4M on this Fortress-Like Artist's Compound, Near the Beach in Venice

Sculptor Robert Graham's studio and living compound has been on the market since September, 2010 and was originally listed for $18M.

The Basics: On three lots– more than a quarter-acre— of downtown Venice is this 3-bed, 3.5 bath complex of home, studio and sheltered outdoor space. Secure parking for five cars plus a black-bottom swimming pool. Once $18M, now reduced to $14M.

Not So Basic: It was designed and built in 1994 by eminent sculptor Robert Graham, who lived there (with wife Angelica Huston) until his death in late 2008. Best known for bronze sculptures of the human figure, he designed the monumental entry to the 1984 Olympic Games in Los Angeles. Anecdotally, the complex's fortress-like aspect was at Ms. Huston's demand— she didn't feel entirely safe in Venice.

Still a gritty beach-front town, Venice has both expensive, innovative architecture and it's share of classic urban problems. And this very special hidden oasis:

Graham's immense studio building, made of industrial materials and sheathed in corrugated aluminium:

Below, a gallery space. In some ways, the ceiling heights are an affectation. Grahams's bronzes are rarely more than three feet high:

The main living area, which could have been tranplanted from Brentwood:

A great place to lounge, off a second-floor loggia:

Ocean views from the top floor. Somehow, the television on the far wall just can't compete:

Completely unique, very special, very difficult to sell. No matter how much a buyer is swept away, it's still hard to wrap one's head around living in a house that's such a personal creation, even at $4M less.

Listing: 57 Windward Way, Venice [Redfin]

More in Venice: Yesterday, a great house by DU Architects. We've also covered Antoine Predock's oceanfront house, which eventually sold for $3,063,350, the late Dennis Hopper's compound— which was "pending" for a while,  then re-listed when the sale fell through, and now repriced at just under $6M. Plus this handsome house by architect David Hertz, which sold for the asking price of $2.395M.

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