A tech entrepreneur has been trying to offload his Florida mansion for 2 years - and now he's auctioning it off with no minimum price. Look inside the waterfront home last listed for $18 million.

florida mansion auction

Platinum Luxury Auctions

A Florida tech entrepreneur is putting his waterfront Coral Gables mansion up for auction after almost two years trying to sell it, Yahoo Finance reported.

It will have no reserve price, or minimum bid, according to Platinum Luxury Auctions, the firm that's putting on the auction. The tri-level home spans 15,000 square feet and comes with a sauna, pool, and 100-foot boat dock.Advertisement

The owner, Manuel Medina, sold his Terremark data services company to Verizon in 2011 for $1.4 billion, according to The Real Deal. He also founded private equity firm Medina Capital, as well as cyber security firm Cyxtera. Florida media refers to Medina as a billionaire, but Business Insider could not independently confirm his net worth.

The live auction will take place on February 14 and the sale is expected to close 30 days later.

The home, which Medina first put on the market in March 2018, was last listed for $17.9 million, according to the auction house. The auction house declined to give an estimated value of the home.
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"In our process, we leave the matter of price and value up to the bidders on auction day," marketing director Ilissa Knisley told Business Insider. "It will be for them to decide."

Take a look inside the six-bedroom waterfront mansion.
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Manuel Medina's waterfront Florida mansion sits in a gated community in Coral Gables.

Manuel Medina's waterfront Florida mansion sits in a gated community in Coral Gables.

After trying to sell the home for almost two years, Medina is putting it up for auction with Platinum Luxury Auctions with no minimum price.

The live auction will take place on February 14 and the auction house expects the sale to close in 30 days.

The exclusive Gable Estates community has had more than 30 sales above $10 million in the past 15 years, according to Platinum Luxury Auctions.

The exclusive Gable Estates community has had more than 30 sales above $10 million in the past 15 years, according to Platinum Luxury Auctions.

Most of the homes are luxurious estates that sit on large, waterfront parcels.

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Medina bought his Gables Estates home in 2013 for $7 million.

Medina bought his Gables Estates home in 2013 for $7 million.

He first put it on the market in March 2018, which is not necessarily a lengthy time on the market in the Miami luxury housing sector, Platinum Luxury Auctions told Business Insider.

The average US home was on the market for 79 days, or less than three months, in December 2019, according to Realtor.com.

The tri-level home spans more than 15,000 square feet of living space.

The tri-level home spans more than 15,000 square feet of living space.

Source: Platinum Luxury Auctions

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It comes with 180 feet of water frontage and a 100-foot boat dock that can accommodate a yacht up to 125 feet long.

It comes with 180 feet of water frontage and a 100-foot boat dock that can accommodate a yacht up to 125 feet long.

Source: Platinum Luxury Auctions

Inside, the modern home's salon has double-height ceilings and a wall of glass that opens the room up to the outdoors.

Inside, the modern home's salon has double-height ceilings and a wall of glass that opens the room up to the outdoors.

Source: Platinum Luxury Auctions

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A formal dining room can seat at least 14 people.

A formal dining room can seat at least 14 people.

Source: Platinum Luxury Auctions

The kitchen features Miele, Wolf, and Sub-Zero appliances, white-lacquered cabinets, and custom countertops made of Calacatta marble.

The kitchen features Miele, Wolf, and Sub-Zero appliances, white-lacquered cabinets, and custom countertops made of Calacatta marble.

Source: Platinum Luxury Auctions

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An adjoining breakfast room opens up to the home's expansive patio and lounge areas, which include the heated pool and spa.

An adjoining breakfast room opens up to the home's expansive patio and lounge areas, which include the heated pool and spa.

Source: Platinum Luxury Auctions

The master suite comprises a bedroom, a sitting lounge, a master bathroom with a shower and soaking tub, and two walk-in closets.

The master suite comprises a bedroom, a sitting lounge, a master bathroom with a shower and soaking tub, and two walk-in closets.

Source: Platinum Luxury Auctions

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The home's other amenities include a billiards room, a study, a children's playroom ...

The home's other amenities include a billiards room, a study, a children's playroom ...

Source: Platinum Luxury Auctions

... a fitness center ...

... a fitness center ...

Source: Platinum Luxury Auctions

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... and a wine cellar.

... and a wine cellar.

Source: Platinum Luxury Auctions

The home comes with a garage that can fit at least five vehicles, an outdoor putting green, and a manicured lawn with a blend of artificial and natural grass.

The home comes with a garage that can fit at least five vehicles, an outdoor putting green, and a manicured lawn with a blend of artificial and natural grass.

Source: Platinum Luxury Auctions

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