Entrepreneur Faces Another Auction Round

Nikos Gryparis, once a prominent figure in Mykonos’ nightlife scene—best known for the legendary Caprice and Sea Satin venues—continues to face financial difficulties, leading to the auctioning of his assets.

His luxurious villa in Fanari was first put up for auction in May 2024 with a starting price of €2.5 million but failed to attract buyers. A second attempt in July was also unsuccessful. Now, a new auction is scheduled for April 2, 2025, with a 20% discount, lowering the starting price to €2 million.

Villa Details

The property sits on a 4,000 sq.m. plot and includes:

• Basement level (practically ground level at the pool area): 458.87 sq.m. featuring an open-plan living room, kitchen, and four en-suite bedrooms.
• Ground floor: 192.71 sq.m. with a small living area, two bedrooms, bathrooms, a dressing room, and an independent guesthouse.
• Loft: 27.69 sq.m. bedroom space.

The villa is separated from other properties by a stone wall, offering exclusive use of approximately 2,300 sq.m., which includes a glass-paneled pool designed for wind protection.

Auction for Adjacent Plot

Prior to the villa’s auction, a 5,422 sq.m. adjacent plot will go under the hammer on February 13, 2025. The plot features stonework landscaping, pergolas, and a concrete road. Two small auxiliary buildings—one stone-built near the entrance and one wooden structure—are also on-site. The auction starts at €85,000, with Cepal acting as the creditor.

Previous Sale: The “Prime” Mykonos Town Property

Last June, another of Gryparis’ properties—a 153.84 sq.m. first-floor apartment with a small ground-level storage space—was auctioned. Located in Alevkantra Square, near Little Venice and the iconic windmills, the property quickly found a buyer. Originally listed at €1 million, it was sold for €1,024,600.