The 1730 sq m Takapuna house, which is more than eight times the size of a normal large house and sits on nearly half a hectare of land, was owned by Cameron and Tracey Gregory.
Mr Gregory owned a third of glass supplier Metro GlassTech, which was sold for $366 million in 2006.
The executive waterfront home, designed by Greg Noble, also has a swimming pool, cabana, three hidden panic rooms and a Westpac Bank-rated safe room.
It is made of solid concrete block with Oamaru solid stone cladding and columns, and has an English slate tiled roof.
The property was marketed by David Rainbow at Bayleys Real Estate as "arguably the finest private residence in New Zealand".
Mr Rainbow would not confirm the sale when contacted by the Herald last night.
However, thousands of dollars of its furnishings belonging to the Gregorys will go under the hammer on June 30.
Mossgreen-Webb will auction off 73 lots of fine 20th Century furniture and a range of decorative arts.
A "spectacular" circular dining table is expected to reach the highest price, with an estimated sale tag of $5000 to $7000.
Several other items are estimated to fetch several thousand dollars, including two matching Venetian style mirrors, two large hand-knotted carpets, two wing-backed armchairs and a refectory table in solid limed oak.
A Mossgreen-Webb spokeswoman said there had already been considerable interest in the items, which are open for viewing at the company's Parnell premises from Saturday.