Asking Price: $3,975,000

First Offering: The DJ Studio/Loft, 2010. With a program not unlike what has been acknowledged as the world's first architectural folly: Freston Tower built in 1579 overlooking the river Orwell in Suffolk England, this building overlooks the Pacific Ocean at the mouth of Santa Monica Canyon. Each structure affords only one room for each floor (the tower has 6 while the studio has five, if one is to include the full basement, and rooftop patio. As a practical matter, the studio, with its elevator, has the tower beat, and each of the studio's floors are much more spacious. The real reason for the comparison is that each building is just plain fun, and that is rare for any serious work of architecture.