EXCLUSIVE: Tech Mogul Lists His Custom-Built Coral Gables Megamansion for Sky-High Price of $22 Million

by Kelsi Karruli

A technology tycoon is preparing to offload his sprawling waterfront mansion in Florida for the staggering price of $22 million—as he gets set to relocate to a more low-key locale in search of a "quieter" life.

Sumant Sharma served as the managing director of Asia/Pacific at Acme Packet from 2003 to 2013. In 2012, the property was purchased by billionaire Larry Ellison's Oracle, a deal that enabled Skype and WhatsApp to begin using Acme Packet's technology.

Now, Sharma is one of the chief investors at AI company Cognovi Labs—as well as the owner of a jaw-dropping Coral Gables abode that took three years to complete.

The businessman initially purchased the plum parcel on which his gleaming abode now sits in 2015 but was not able to move into the dwelling until 2018, when construction finally drew to a close.

Located on a corner lot—which provides 300 feet of private water frontage—the property is centered around an enormous main residence that spans more than 8,200 square feet, offering more than enough room for Sharma, his wife, and their children.

A tech tycoon is offloading his sprawling Florida mansion that comes complete with 300 feet of waterfront for $22 million for a chance at a "quieter" lifestyle. (Become Legendary)
Sumant Sharma served as the managing director of Asia/Pacific at Acme Packet from 2003 to 2013. In 2012, the property was purchased by Oracle, meaning that Skype and WhatsApp began using Acme Packet's technology. (Become Legendary)
Now, Sharma is one of the chief investors at AI company Cognovi Labs. The mogul purchased the land in 2015 and then built up the custom mansion over the next three years. (Become Legendary)
By 2018, he and his wife moved into the corner-point abode, which spans across 8,279 square feet. After nearly a decade of lavish living, they have decided it's time to downsize now that three out of four of their daughters have gone off to college. (Become Legendary)

It was the unobstructed views out over the water that first drew the tech expert to the property, as well as the privacy offered 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 enjoying the extraordinary abode for nearly a decade, Sharma and his wife have decided it's time to downsize now that three out of four of their daughters have gone off to college, a source told Realtor.com®.

They are now hoping to trade Coral Gables for a "quiet, beach-centric" lifestyle in nearby Boca Raton or Delray—and are giving another deep-pocketed homebuyer the opportunity to snap up a slice of true luxury in the form of their abundant abode.

According to property details shared exclusively with Realtor.com, the property marries architectural drama with a sense of energy that is ideal for entertaining.

From the outside, the home could be mistaken for a resort thanks to its lavish pool, built-in barbecue, firepit lounge, outdoor kitchen, expansive waterfront terraces, and a basketball or volleyball court by the water—all of which make for a rare backdrop of relaxation and play.

Elsewhere on the grounds, there are two private docks that accommodate a superyacht of more than 100 feet, a 30,000-pound boat lift, and access to Biscayne Bay.

Moving inside, the property's jewel is the chef's kitchen, which boasts a large island and faces the waterfront, meaning that guests can enjoy their meals with a view.

Each bedroom also has its own bathroom, walk-in closet, and covered terrace that overlooks the water. (Become Legendary)
The home features a lavish pool, built-in barbecue, firepit lounge, outdoor kitchen, expansive waterfront terraces, and a basketball or volleyball court by the water—all of which make for a rare backdrop of relaxation and play. (Become Legendary)
The walk-in closet is the perfect place to get glammed up. (Become Legendary)
According to a press release shared exclusively with Realtor.com, the property perfectly marries sophistication with timeless elegance. (Become Legendary)
In addition to its large rooms, the property also has an elevator. (Become Legendary)

Adjacent to the kitchen, there is a butler's pantry, temperature-controlled custom wine wall, and a modern dining room.

The home features seven bedrooms and 8.5 bathrooms that are all sun filled thanks to the large windows.

Each bedroom also has its own bathroom, walk-in closet, and covered terrace that overlooks the water.

"The primary bedroom and bath have fantastic views of the bay, and the bathroom features a spa sanctuary vibe, with a free-standing tub and a sauna," the press release reveals.

In addition to its large rooms, the property also has an elevator.

The press release adds, "Private, dramatic, and impossible to replicate—this is luxury waterfront living at its best. Gated community and home in an unbeatable location."

Despite its hefty price tag—which is more than 12 times that of the median $1,765,000 listing price in Coral Gables—the home is actually on offer for a rather reasonable sum when compared with other similar properties in the area.

There are currently 13 other dwellings with an asking price of more than $20 million, including a staggering oceanfront villa-style property that is on the market for $45 million, according to Realtor.com data.

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Stevan Stanisic

Stevan Stanisic

+1(239) 777-9517

Real Estate Advisor | License ID: SL3518131

Real Estate Advisor License ID: SL3518131

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