Dell’s Boston Penthouse Heads to Auction After $6.25B Pledge

Michael and Susan Dell are auctioning their 59th-floor penthouse at Boston’s Millennium Tower with a minimum reserve price of $6.5 million, accelerating the liquidation of their Massachusetts real estate holdings just months after committing $6.25 billion to fund children’s savings accounts nationwide.

Paramount Realty USA and Serhant Massachusetts are managing the sealed-bid sale, which closes Oct. 29. The roughly 4,100-square-foot unit at 1 Franklin Street was originally acquired for $10.9 million. The auction format—increasingly common for ultra-luxury properties where traditional listing timelines stall—signals a definitive exit from the building rather than a price-testing exercise.

The disposition follows a prolonged attempt to sell a separate Boston asset. The couple listed a duplex penthouse atop the Four Seasons Private Residences at One Dalton Street in 2023 for $34 million. After reducing the ask to $29 million without securing a buyer, they pulled that property from the market last year. Consolidating their footprint in a city where they no longer maintain primary operational ties appears to be the driving strategy behind both moves.

The financial capacity to offload luxury assets at steep discounts or via accelerated auctions stems from a broader portfolio restructuring tied to recent philanthropic commitments. Earlier this year, Michael Dell, the founder, chairman, and CEO of Dell Technologies, and Susan Dell, cofounder and board chair of the Michael & Susan Dell Foundation, pledged $6.25 billion to seed 25 million “Trump Accounts.” The initiative aims to establish investment vehicles for children, representing one of the largest single private charitable deployments in U.S. history. Liquidating non-core real estate aligns with the capital requirements of such an undertaking.

Sealed-bid auctions for high-end residential towers have gained traction across major U.S. markets as traditional brokerages struggle to match niche buyers with trophy properties carrying eight-figure historical valuations. By setting the floor at $6.5 million—roughly 40 percent below the original purchase price—the Dells prioritize transaction certainty over maximizing return on a secondary residence.

The Millennium Tower itself carries a complex history in Boston’s Financial District. Completed in 2016, the 60-story glass skyscraper faced intense public scrutiny and litigation shortly after opening due to structural settling issues that caused the building to lean and sink unevenly. Developers subsequently installed bedrock pilings to stabilize the foundation. Despite those early engineering controversies, the upper floors remain among the most expensive addresses in the city, catering to buyers seeking unobstructed elevation above the downtown core.

The specific unit spans three bedrooms, four full bathrooms, and a powder room. Ceilings exceed 11 feet, and espresso-hued wide-plank white oak floors run throughout the layout. A secured elevator landing opens into a main gallery that flows toward a living and dining area anchored by a vent-free linear gas fireplace set into a black granite accent wall. The kitchen features rift-sawn oak cabinetry by Christopher Peacock, honed Calacatta Extra marble countertops, and integrated Wolf and Sub-Zero appliances, connected to the main entertaining space via a butler’s pantry. Expansive grid-style windows frame views of the Charles River, Boston Harbor, and the surrounding skyline, complemented by a private outdoor terrace.

The primary suite occupies a separated corner of the floor plan, incorporating a walk-in dressing area and a bathroom finished in full-slab marble with a freestanding soaking tub. Two additional guest suites include en-suite bathrooms and custom closets. Monthly homeowners association dues total $6,862, granting access to two garage parking spaces, a 24-hour doorman, and a 20,000-square-foot private residents’ club featuring a 75-foot pool, wellness spas, a restaurant operated by chef Michael Mina, and round-the-clock concierge service.

Even with the complete withdrawal from Boston, the Dells retain a concentrated roster of ultra-luxury properties anchored to their primary operational hubs. Their holdings include a 119-acre modernist compound in Austin, Texas, known locally as The Castle, situated near the Dell Technologies global headquarters. On the Big Island of Hawaii, they own a 4.3-acre oceanfront estate within the Kukio community referred to as the Raptor Residence. In New York, the couple maintains a duplex penthouse crowning the supertall One57 tower on Manhattan’s Billionaires’ Row, a property valued at approximately $100 million.

The sealed-bid window for the Millennium Tower penthouse remains open until Oct. 29.