Paddles Up

The Lido Key 'Pirate House' Is Headed to Auction

This multimillion dollar home is going to auction for one day only. The highest bidder, regardless of price, takes all.

By Kim Doleatto November 29, 2022

Exterior of a three storied, luxury home on Lido Key.

The home is across from Lido Beach at 15 N. Polk Drive.

Image: VRX Media

Homeowner Michael Lentini has already bid his pirate lady adieu (she lives on the balcony of his home, hence the "pirate house" nickname). His three cats, Romeo, Porshia and Lola, no longer care for the weekends that demand they vacate their lux home for live showings. Then there's the string of bogus offers on the luxury Lido Key mansion since it was first listed in June. For Lentini, it's time to hit the road—or, rather, the auction. 

a pirate statue on a balcony of a home on Lido Beach.

The home's "pirate lady" can be seen by passersby.

"It's been a wreck. Someone went into contract a month ago, put down a deposit for $1.5 million, then walked away," Lentini says. 

That's after two other parties went under contract to buy the home but couldn't come through with the money. "At least one of them pulled out of the contract in time. The other let everything lapse. Now we're fighting over the $1.5 million because he wants it back, despite the stipulations of the contract that say he loses the deposit," Lentini says.

A bedroom with a view of Lido Beach.

One of five bedrooms in the home.

Image: VRX Media

"I had six offers in all, and none of them could come through," Lentini says. "I'm ready to go. I'm fried. I have no more time to make the house look like no one lives there, or sit in the car for four hours while it's being shown."

Image: VRX Media

"At this point, I need some satisfaction," he says.

For Lentini, that satisfaction may be worth millions. And for someone else, it may be a once-in-a-lifetime opportunity to name your own price on a millionaire’s home. 

The three-story, nearly 5,000-square-foot home on an almost 10,000-square-foot lot located steps from the beach was first listed for $12 million in June, with a price drop to $10 million in August. Now, the home is going to auction on Dec. 3 at 11 a.m. through DeCaro Auctions International. The price is up to bidders, and the highest one takes all.

Luxury kitchen in a Lido Key home.

Kitchen

Image: VRX Media

Designed by award-winning local firm DSDG Architects, Lentini was drawn to the new home’s unique design. At the time he regarded the Art Deco-style address as his “forever home," and bought the new build in 2017. One of its standout amenities is a 12-car garage—a rarity in a single-family home so close to the beach.

It has a 10,000 lb. car lift and five garage doors, including one that’s 12 feet high and another that’s 14 feet high (perfect for an RV or boat). The home also boasts knock-out views of Lido Beach from a fourth-level rooftop deck and luxe Italian finishes throughout its five-bedroom, five-and-a-half-baths.

But since Lentini recently retirement, he's ready to hit the high seas and live on a boat after liquidating much of his specialty car collection.

12-car garage interior with Ferraris.

The home's garage holds up to 12 cars.

Image: VRX Media

And as a lifelong Ferrari collector, he's accustomed to moving fast, so the nature of a quick closing aligns perfectly.

The auction takes place on-site, Saturday, Dec. 3 at 11 a.m., but remote bidding is welcome. For a private preview, call DeCaro Auctions International at (1-800) 332-3767.  Click here for more information, or mail the business development director of DeCaro Auctions International, John Torrey at [email protected]

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