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.
Platinum Luxury Auctions
- Florida tech entrepreneur Manuel Medina is putting his Florida mansion up for auction after almost two years trying to sell it, Yahoo Finance reported.
- The 15,000-square-foot home has 180 feet of water frontage on a canal in a Coral Gables gated community.
- It will have no reserve price, or minimum bid, according to Platinum Luxury Auctions, the firm holding the auction.
- The waterfront home, last listed for $17.9 million, includes a sauna, an outdoor swimming pool, a billiards room, and an outdoor putting green.
- It also comes with a 100-foot boat dock that can accommodate up to a 120-foot yacht.
- Visit Business Insider's homepage for more stories.
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.
"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.