Madoff's Beach Home Sells for More Than Asking Price

Montauk manse was on the market for $8.75M
By John Johnson,  Newser Staff
Posted Sep 17, 2009 1:40 PM CDT
The home in Montauk.   (AP Photo/John Dunn, File)
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(Newser) – Bernie Madoff's Montauk beach house is off the market, ABC reports. A buyer paid cash "over the asking price" of $8.75 million, say Realtors involved with the deal. The US Marshals Service, which is selling the home to get money back for Madoff's victims, won't divulge the buyer's name or the price until the deal closes. It was apparently a good buy: Several people submitted bids in "fast and furious" fashion, say the Realtors.