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TUESDAY, NOVEMBER 24, 2009
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5

Madoff's Beach Home Sells for More Than Asking Price

Montauk manse was on the market for $8.75M

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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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5 comments
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pkmac4
Sep 17, 09 1:51 PM CDT
Nice house. I bet 50 Cent bought it on a whim. Reply
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Reader64481089
Sep 17, 09 1:55 PM CDT
I just hope some of the elderly who lost everything get a small amount of the cash back...very sad situation
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+1
nick
Sep 17, 09 2:32 PM CDT
The ultra rich are alive and well. At least the proceeds might do some good. Reply
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+2
KitKat302
Sep 17, 09 3:59 PM CDT
I hope so. Reply
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+1
rockermocking
Sep 17, 09 4:38 PM 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. Reply
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