Dell Technologies Chairman and CEO Michael Dell is under contract to buy a penthouse in the One Dalton residential tower in Boston's tony Back Bay neighborhood, according to reports.
The buy would be Dell's second in Boston, and its price tag could dwarf that of the penthouse he purchased a little more than a year ago at Millennium Tower in the city's Downtown Crossing neighborhood.
Dell's contract for One Dalton was first reported by The Wall Street Journal, citing sources with knowledge of the deal. MSD Capital, the firm that manages Dell's family's funds, did not respond to a request for comment.
The tower's official name is the Four Seasons Hotel & Private Residences One Dalton Street, and it's currently under construction. When complete, it'll be the tallest residential building in New England at 742 feet.
The Four Seasons' three penthouses are on its 60th and 61st floors, and one went under contract for about $40 million last year, developer Carpenter & Co. said at the time. That price tag makes One Dalton the priciest residential building in Boston, as well as the tallest.
Dell bought his penthouse in the 60-story Millennium Tower last December for $10.9 million. That tower rises from the long-vacant site of what was once the flagship Filene's department store.
Millennium Tower is one of the city's swankiest residential buildings, and quickly became a go-to address for privacy-minded corporate elites. A few months before Dell bought his penthouse there, billionaire banker Jonathan Grayken, head of Lone Star Funds, bought a 13,000-square-foot "Grand Penthouse" in the building for $35 million.
Dell began shopping for homes in Boston shortly after announcing early last year that his company would acquire Hopkinton, Mass.-based data storage giant EMC. The $58 billion merger was finalized about a year ago, creating Dell Technologies, the largest privately held IT firm in the world. The company is on target to book nearly $80 billion in revenue in its current fiscal year.
Dell's net worth is currently about $23.5 billion, according to Forbes. The CEO reportedly owns several homes, including properties in Hawaii and the Caribbean. His primary home is a sprawling Austin, Texas, mansion very near company headquarters. He also owns a ranch nearby.