A Boston penthouse owned by Texas billionaire Michael Dell is going to auction for the first time-with bidding starting at $6.5 million, sweeping 59th-floor views and an oven that’s apparently never been turned on.
The timing is interesting. Michael Dell’s fortune took a $15.1 billion hit this week-but don’t expect him to start shopping at IKEA. The Texas billionaire dropped to No. 4 on Forbes’ Real-Time Billionaires List as Dell Technologies shares fell amid a broader AI-stock selloff. He had briefly reached No. 2 for the first time just days earlier.
Michael Dell’s penthouse at Millennium Tower in Boston, MA that is now up for auction. (Courtesy of Serhant.)
Dell bought the Millennium Tower penthouse for $10.9 million in 2016, using an LLC, according to property records. Now, nearly a decade later, the roughly 4,100-square-foot home is headed for a sealed-bid auction with a reserve price that’s $4.4 million below what Dell paid.
That’s a potential 41-percent discount from its last sale price.
Now, buyers will have a chance to name their price for the three-bedroom penthouse, with bidding closing Oct. 29.
Could someone walk away with a multimillion-dollar bargain?
Misha Haghani, founder and CEO of Paramount Realty USA, which is handling the auction, said that’s ultimately up to the market.
“There is a possibility for a buyer to get a good deal,” Haghani said. “What do you mean by a good deal? That’s subjective.”
“Everything has a market value,” he said.
The penthouse certainly has the luxury credentials.
Michael Dell’s penthouse at Millennium Tower in Boston, MA that is now up for auction. (Courtesy of Serhant.)
A private club with astonishing views
It’s perched on the 59th floor of Millennium Tower with floor-to-ceiling glass, 14-foot ceilings, a private terrace and sweeping views of Boston and the harbor. The building also has a private club with dining, a pool, wellness facilities and concierge service.
And then there’s the oven.
The penthouse has barely been used, according to the listing agent, Michael Carucci. In fact, Carucci said the stove has never been turned on.
Dell’s penthouse is being sold through a sealed-bid auction conducted by Paramount in collaboration with Carucci, a founding partner at SERHANT. Massachusetts. Bidding is open now and closes at 4 p.m. Oct. 29, although the property is subject to prior sale.
Haghani declined to comment on the identity of the seller.
Michael Dell’s penthouse at Millennium Tower in Boston, MA that is now up for auction. (Courtesy of Serhant.)
Dell, founder and CEO of Dell Technologies, has a history of buying eye-popping real estate.
He paid $100.47 million for a penthouse at Manhattan’s One57 in 2014, setting a New York City residential sales record at the time. He also bought a penthouse at the Four Seasons Private Residences Boston for $34 million in 2020.
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This article originally published at Texas billionaire Michael Dell puts $10.9M Boston penthouse up for auction.