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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
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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.

The home in Montauk.
The home in Montauk.   (AP Photo/John Dunn, File)
Bernie Madoff, in a file photo from March.
Bernie Madoff, in a file photo from March.   (AP Photo/Louis Lanzano, file)
A view of the pool.
A view of the pool.   (AP Photo/Robert Mecea, file)
The dining table has a view of the ocean.
The dining table has a view of the ocean.   (AP Photo/Robert Mecea)
The kitchen of the Madoffs' Montauk home.
The kitchen of the Madoffs' Montauk home.   (AP Photo/Robert Mecea)
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COMMENTS
Showing 3 of 5 comments
rockermocking
Sep 17, 2009 4:38 AM CDT
i wouldn't be surprised if people who wanted to buy the home also wanted it for the story behind it in some strange fashion.
Guest
Sep 17, 2009 3:59 AM CDT
I hope so.
nick
Sep 17, 2009 2:32 AM CDT
The ultra rich are alive and well. At least the proceeds might do some good.

 
fraud • Long Island • federal prison • Ponzi scheme • Montauk • Bernard Madoff • Bernard L. Madoff Investment Securities

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