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.
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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.
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.
Manuel Medina's waterfront Florida mansion sits in a gated community in Coral Gables.
The exclusive Gable Estates community has had more than 30 sales above $10 million in the past 15 years, according to Platinum Luxury Auctions.
Medina bought his Gables Estates home in 2013 for $7 million.
The tri-level home spans more than 15,000 square feet of living space.
It comes with 180 feet of water frontage and a 100-foot boat dock that can accommodate a yacht up to 125 feet long.
Inside, the modern home's salon has double-height ceilings and a wall of glass that opens the room up to the outdoors.
A formal dining room can seat at least 14 people.
The kitchen features Miele, Wolf, and Sub-Zero appliances, white-lacquered cabinets, and custom countertops made of Calacatta marble.
An adjoining breakfast room opens up to the home's expansive patio and lounge areas, which include the heated pool and spa.
The master suite comprises a bedroom, a sitting lounge, a master bathroom with a shower and soaking tub, and two walk-in closets.
The home's other amenities include a billiards room, a study, a children's playroom ...
... a fitness center ...
... and a wine cellar.
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.
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