Hot Property: Polaroid Beach House in Malibu on the market for $32 million

The Polaroid house, named for its corporate owner, just came on the market at $32 million. The ownership plan -- which was to use the beach house to throw parties for young Hollywood A-listers and invite a gaggle of paparazzi to dutifully shoot photos chock-full of product placements -- ran afoul of local (rich) neighbors who objected to the around-the-clock revelry in the summer of 2007. After a substantially more subdued summer this year, the Polaroid House, which once clutched the likes of Paris Hilton to its bosom, joined the ranks of the listed. By next summer, all that will likely remain are the last straggler's footprints in the sand (designer sandals?) perhaps walking out toward the high water mark (where the public has access).

Actually, since the property comes with approved plans to construct a 6,000-square-foot house, you might see footprints from a bunch of construction workers there too.

Brett Esformes of Pritchett-Rapf, Malibu, is the listing agent.