Michael Dell's Boston Penthouse Headed to Auction with $6.5 Million Reserve
Tech billionaire Michael Dell is sending his barely used Boston penthouse to a sealed-bid auction with a $6.5 million reserve price, a decade after purchasing the property for $10.9 million.
Tech executive and billionaire Michael Dell is putting his rarely used penthouse in Boston up for a sealed-bid auction, featuring a starting reserve price of $6.5 million. The founder and chief executive officer of Dell Technologies originally acquired the high-rise residence in 2016 for $10.9 million through a limited liability company, according to property records noted by Mansion Global. Situated on the 59th floor of the 60-storey Millennium Tower within Boston's Midtown district, the luxury property is transitioning to the auction block after previous efforts to sell it through traditional real estate channels did not succeed.
Dell initially listed the three-bedroom condominium in 2024 at his original purchase price of $10.9 million, according to reporting from The Wall Street Journal. When that listing failed to attract a buyer, the asking price underwent several reductions, eventually sitting at $7.895 million before being pulled from the conventional market altogether. The upcoming sealed-bid auction is being managed by Paramount Realty USA alongside listing agent Michael Carucci, who serves as a founding partner at Serhant Massachusetts.
Prospective buyers participating in the auction must submit sealed bids accompanied by verified proof of funds prior to the submission deadline. The established $6.5 million reserve price sits more than 40 percent below the sum Dell paid for the property a decade ago. Michael Carucci stated to local real estate journalists that the reserve price creates an exceptional chance for interested purchasers to determine their own price for a high-end home located within one of Boston's premier residential towers.
The 59th-floor property encompasses 4,100 square feet of interior living space, containing three bedrooms, four full bathrooms, and a half-bath, based on Realtor.com listings. As a corner unit, the residence features floor-to-ceiling glass windows that offer extensive views of both the Boston skyline and the adjacent harbor. Interior finishes include wide-plank hardwood flooring, marble accents, a gas fireplace, and a private outdoor terrace. Additional highlights comprise high ceilings, custom woodwork, and a chef's kitchen outfitted with premium appliances and built-in cabinetry. Furthermore, the transaction includes two designated parking spots in the underground garage of the building.
Residents of Millennium Tower also benefit from various building amenities, such as a 24-hour concierge service, doormen, a private screening room, a fitness center, and a 75-foot indoor lap pool. Dell originally secured the Millennium Tower unit in December 2016 following the completion of his company's $67 billion acquisition of EMC Corp, a Massachusetts-based IT enterprise, as reported by the Austin Business Journal. While the penthouse functioned as a convenient lodging option for business travels to the region, local real estate professionals indicate that Dell utilized the residence infrequently over the years.
Dell expanded his Boston real estate portfolio four years later in 2020 by purchasing a significantly larger, two-story penthouse at the Four Seasons Private Residences One Dalton Street for $34 million, according to The Wall Street Journal. The decision to liquidate the Millennium Tower property arrives amid shifting valuation trends within Boston's luxury condominium sector. While select penthouses inside the tower commanded prices exceeding $11 million during a robust market period in late 2016, more recent transactions within the Downtown Crossing neighborhood have reflected lower figures. Bidding for the 59th-floor residence is scheduled to close in late October, positioning the event as one of the most prominent luxury real estate auctions in New England for the year.