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MONDAY, NOVEMBER 23, 2009
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For Sale: Madoff's $8.75M Hampton Home

$8.75M home being sold by government to pay restitution

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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.

A round dining table is shown in the house of Bernard Madoff in Montauk, NY, Friday, Aug. 28, 2009.
A round dining table is shown in the house of Bernard Madoff in Montauk, NY, Friday, Aug. 28, 2009.   (AP Photo/Robert Mecea)
The beach home in Montauk, NY.
The beach home in Montauk, NY.   (AP Photo/John Dunn, File)
A view of the pool and the porch of the house of Bernard Madoff in Montauk, NY, seen Friday, August 28, 2009.
A view of the pool and the porch of the house of Bernard Madoff in Montauk, NY, seen Friday, August 28, 2009.   (AP Photo/Robert Mecea)
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2 comments
VIEWING:
 
ruserious
Sep 1, 09 1:24 PM CDT
It's beautiful. If I had millions of stolen dollars to buy it, I would. Reply
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+3
IN RESPONSE:
Reader64481089
Sep 1, 09 1:33 PM CDT
Perhaps Bernie's wife could "arrange" a loan? Just a thought
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