A technology mogul is preparing to sell his sprawling waterfront mansion in Florida for the staggering price of $22 million, as he looks set to move to a quieter locale in search of a “quieter” life.
Sumant Sharma was General Manager of Asia/Pacific at Acme Packet from 2003 to 2013. In 2012, the property was purchased by a billionaire Larry Ellison‘s Oracle, a deal that allowed Skype and WhatsApp to use Acme Packet’s technology.
Now Sharma is one of the lead investors at AI company Cognovi Labs – as well as the owner of a stunning home in Coral Gables that took three years to complete.
The businessman initially purchased the plum plot on which his beautiful home now stands in 2015, but was only able to move into the home in 2018, when construction finally came to an end.
Situated on a corner lot, which offers 90 meters of private water frontage, the property is centered around a massive main residence of over 8,200 square meters, providing more than enough space for Sharma, his wife and their children.
It was the unobstructed water views that first drew the tech expert to the property, as well as the privacy afforded by its location in a secure gated community, and the fact that the Bahamian island chain of Bimini is just a 1.5-hour boat ride from the home’s dock.
However, after nearly a decade of enjoying the quaint abode, Sharma and his wife have decided it’s time to downsize now that three out of four of their daughters have gone to college, a source told Realtor.com®.
They now hope to trade Coral Gables for a “quiet, beach-oriented” lifestyle in nearby Boca Raton or Delray — and give another homebuyer with deep pockets the chance to snag a slice of true luxury in the form of their lavish abode.
According to property details shared exclusively with Realtor.com, the property combines architectural drama with a sense of energy ideal for entertaining.
From the outside, the home could be mistaken for a resort thanks to its lavish pool, built-in barbecue, fire pit lounge, outdoor kitchen, expansive waterfront terraces and waterfront basketball or volleyball court, all providing a rare backdrop of relaxation and play.
Elsewhere on the property there are two private docks that can accommodate a 100-foot superyacht, a 30,000-pound boat lift and access to Biscayne Bay.
Inside, the jewel of the property is the chef’s kitchen, which features a large island and overlooks the waterfront, allowing guests to enjoy their meals with a view.
Adjacent to the kitchen there is a butler’s pantry, a custom temperature-controlled wine wall and a modern dining room.
The house features seven bedrooms and 8.5 bathrooms, all of which are sun-filled thanks to the large windows.
In addition, each bedroom has its own bathroom, walk-in closet and covered terrace overlooking the water.
“The master bedroom and bathroom have fantastic views of the bay, and the bathroom has a spa atmosphere, with a freestanding bath and sauna,” the press release reveals.
In addition to the large rooms, the building also has an elevator.
The press release adds: “Private, dramatic and impossible to replicate – this is luxury waterfront living at its finest. Gated community and home in an unbeatable location.”
Despite the high price tag – which is more than twelve times the median sales price of $1,765,000 in Coral Gables – the home is actually listed for a reasonable amount compared to other comparable properties in the area.
There are currently 13 other homes with asking prices over $20 million, including a stunning oceanfront villa-like property listed for $45 million, according to Realtor.com data.
