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Michael Dell is selling his Boston penthouse by sealed-bid auction, with bidding opening at $6.5 million, about 40% below the $10.9 million he paid for it in December 2016.
Paramount Realty USA is running the sale alongside Michael Carucci, a founding partner at SERHANT. Massachusetts. Bidding is open now and closes at 4 p.m. on Oct. 29, though the apartment can be sold before then.
The home sits on the 59th floor of Millennium Tower, a 60-storey building in Downtown Crossing developed by Millennium Partners. It runs to roughly 4,100 square feet with three bedrooms and four and a half bathrooms, a private terrace, a gas fireplace and wide-plank wood and marble floors, and residents have a lap pool, a gym and a concierge on duty around the clock.
Nobody has really lived in it. Carucci says the stove has never been turned on.
Dell bought it through MT PH4B LLC, an Austin-registered company managed by Marc Lisker of MSD Capital, the firm that handles his money. The purchase included two parking spaces.
What makes the opening price striking is what neighbours have achieved. Two penthouses in the same building have sold for $11,995,000 and $11.2 million.
A sealed-bid auction with a fixed deadline is what sellers use when they want the thing gone by a certain date rather than the best price the market will eventually produce. Conventional listings have no closing bell.
The sum is nothing to him either way. Dell's fortune has been estimated at around $280 billion this month, and it briefly carried him to second place on Forbes' real-time billionaires list before Dell Technologies shares fell in a wider selloff of artificial intelligence stocks, taking $15.1 billion off him in a week and dropping him to fourth.
He has bought bigger. Dell paid $100.47 million for a duplex at One57 on Manhattan's Billionaires' Row in 2014, which remains the most expensive apartment ever sold in New York, and he also owns a penthouse at the Four Seasons Private Residences in Boston and a property on the Kona Coast of Hawaii.
His wife Susan is a co-owner of the Millennium Tower apartment.
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