millionaire gary lowndes purchased the tampa property in 2013 for $ 2 million and had wanted to film a reality show about strippers at the mansion .
he admitted defeat on friday after being found guilty of violating zoning codes due to noisey private functions held at the residence including the midsummer night wet dream event .
residents of the nearby cheval west community had repeatedly complained about the noise coming from the seven acre property .
on friday the county code enforcement board found that lownds had violated their rules and threatened to fine him .
he has put the property back on the market for $ 2.3 million .