Miami tech billionaire’s taking his Coral Gables estate to auction

Manny Medina sold Terremark to Verizon for $1.4B

TRD MIAMI /
May.May 20, 2019 12:30 PM
555 Arvida Parkway, Manny Medina and Audrey Ross (Credit: Concierge Auctions)

555 Arvida Parkway, Manny Medina and Audrey Ross (Credit: Concierge Auctions)

Miami technology billionaire Manny Medina is going straight to auction with his Gables Estates mansion.

Medina, whose property at 555 Arvida Parkway is listed for $17.5 million, plans to sell the 14,329-square-foot home in late June without a reserve, according to a release. Audrey Ross of Compass is the listing agent.

In 2011, Medina sold his company, Terremark, to Verizon Communications for $1.4 billion. He also started Cyxtera, a cyber security firm based in Miami, and is the founder and managing partner of Medina Capital. He is also is the founder and chairman of the board of eMerge Americas.

Medina’s Coral Gables home will be auctioned between June 21 and June 25. It features a boatlift and private dock for a 101-foot yacht, a 5,000-bottle wine room, a heated pool and outdoor kitchen, a chef’s kitchen, guest suite, gym, spa, billiards room and home office. Other features of the Palladian-style mansion include high ceilings, and stone, marble, tile and wood flooring.

Medina paid $7 million for the 1-acre property in 2013, records show. The home was built in 1990.

Frustrated with their long-lingering listings, an increasing number of high-end homeowners are opting to auction off their homes through auction houses.

The nearby mansion at 41 Arvida Parkway – once listed for $68 million – recently sold at auction for $25.5 million.


Related Articles

arrow_forward_ios
Office rents rise across SoFla

Here’s why office rents are going up in South Florida

601 Leucadendra Drive (Credit: Zillow)

Manufacturing CEO sells Gables Estates mansion for $12M

From left: BGI Capital’s Kenneth A. Baboun and Robert Barthelmess, 299 Alhambra Circle, Local Ventures' Rishi Kapoor (Credit: Google Maps, BGI)

Developer snags $12M loan for co-working project in Coral Gables

475 Biltmore Way, Somi Center with Douglas Mandel and Benjamin Silver

California investor searching for higher yield buys medical office building portfolio

Rendering of the Plaza Coral Gables

Pinstripes bowling alley inks lease at The Plaza Coral Gables

1515 Sunset Drive and Facundo Bacardi

Bacardi-owned company sues construction firm for defects and delays at Coral Gables office development

Paseo de la Riviera and Industrious CEO Jamie Hodari  

Industrious to open at Paseo de la Riviera in Coral Gables

999 Ponce and Benjamin H. Silver  

Downtown Coral Gables office building asks $40M

arrow_forward_ios