Billionaire tech executive Michael Dell is putting his little-used Boston penthouse up for auction with a minimum reserve price of $6.5 million (£4.9 million), ten years after buying the high-rise home.
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Dell → put → home
The founder and CEO of Dell Technologies paid $10.9 million for the 4,100-square-foot residence in 2016 through a limited liability company, according to property records cited by Mansion Global.
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founder → pay → Global
Located on the 59th floor of the 60-storey Millennium Tower in Boston’s Midtown area, the property is being sold through a sealed-bid auction.
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property → locate → auction
The decision to auction the home comes after several attempts to sell it through the normal real estate market.
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decision → auction → market
Dell first listed the three-bedroom property in 2024 for $10.9 million, hoping to recover his original purchase price, according to The Wall Street Journal.
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Dell → list → Journal
After failing to find a buyer, the price was reduced several times.
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price → fail → buyer
The home was most recently listed at $7.895 million before being removed from the regular market.
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home → list → market
Sealed-bid auction begins
The auction is being handled by Paramount Realty USA together with listing agent Michael Carucci, founding partner at Serhant Massachusetts, according to Mansion Global.
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auction → seal → Global
Buyers must submit sealed bids along with proof that they have the funds before the deadline.
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they → submit → deadline
The $6.5 million reserve price is more than 40 per cent below what Dell paid for the property ten years ago.
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Dell → pay → property
"The reserve price of $6.5 million presents an extraordinary opportunity for buyers to name their price for a trophy residence in one of Boston's most prestigious towers," Carucci told local real estate reporters when the auction was announced.
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auction → present → reporters
The penthouse has 4,100 square feet of indoor space, with three bedrooms, four full bathrooms, and one half-bath, according to listings on Realtor.com.
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penthouse → have → Realtor.com
The corner unit has floor-to-ceiling glass walls and wide views of the Boston skyline and nearby harbor.
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unit → have → skyline
The interior includes wide-plank hardwood floors, marble details, a gas fireplace, and a private outdoor terrace.
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interior → include → floors
It also features custom woodwork, high ceilings, and a chef’s kitchen with built-in cabinets and high-end appliances.
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It → feature → cabinets
The sale includes two reserved parking spaces in the building’s underground garage.
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sale → include → garage
Residents of Millennium Tower also have access to luxury amenities such as 24-hour concierge service, doormen, a private screening room, a fitness center, and a 75-foot indoor lap pool.
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Residents → have → service
Dell bought the Millennium Tower unit in December 2016 after his company completed its $67 billion purchase of Massachusetts-based IT company EMC Corp, according to the Austin Business Journal.
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company → buy → Journal
The penthouse served as a base for business trips to the area, although local real estate agents say Dell rarely used it personally over the years.
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Dell → serve → years
His property holdings in Boston grew four years later.
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holdings → grow → Boston
In 2020, Dell bought a much larger two-storey penthouse at the Four Seasons Private Residences One Dalton Street for $34 million, according to The Wall Street Journal.
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Dell → buy → Journal
The decision to sell the Millennium Tower home comes as prices in Boston’s luxury condominium market have changed.
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prices → sell → market
Some penthouses in the tower sold for more than $11 million during the strong market in late 2016, while more recent resale prices in the Downtown Crossing area have been lower.
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prices → sell → area
Bidding for the 59th-floor penthouse will end in late October, making it one of the most notable luxury property auctions in New England this year.
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it → end → England
The Aporia
