For Sale: Madoff's $8.75M Hampton Home

$8.75M home being sold by government to pay restitution
By Nick McMaster,  Newser Staff
Posted Sep 1, 2009 1:17 PM CDT
A round dining table is shown in the house of Bernard Madoff in Montauk, NY, Friday, Aug. 28, 2009.   (AP Photo/Robert Mecea)
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(Newser) – Bernie Madoff’s Montauk beach home could be yours for just $8.75 million. The 3,000-square-foot home will go on the market this week—the first of three being sold by the government to get Madoff’s victims some of their money back, Bloomberg reports. Unfortunately for those investors, the market is full of luxury homes like the Montauk residence. “It’s going to take years to sell that house,” says one real estate analyst.