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. 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. 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. The decision to auction the home comes after several attempts to sell it through the normal real estate 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. After failing to find a buyer, the price was reduced several times. The home was most recently listed at $7.895 million before being removed from the regular 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. Buyers must submit sealed bids along with proof that they have the funds before the deadline. The $6.5 million reserve price is more than 40 per cent below what Dell paid for the property ten years ago. “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.
Luxury features on the 59th floor
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. The corner unit has floor-to-ceiling glass walls and wide views of the Boston skyline and nearby harbor. The interior includes wide-plank hardwood floors, marble details, a gas fireplace, and a private outdoor terrace. It also features custom woodwork, high ceilings, and a chef’s kitchen with built-in cabinets and high-end appliances. The sale includes two reserved parking spaces in the building’s underground 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.
Changing priorities in Boston’s luxury market
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. 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. His property holdings in Boston grew four years later. 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. The decision to sell the Millennium Tower home comes as prices in Boston’s luxury condominium market have changed. 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. 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.