Bernie Madoff’s Beach House Sold In Cash Deal Over $8.75 Mil Asking Price

September 17, 2009

(ChattahBox)—ABC News is reporting that convicted Ponzi schemer Bernie Madoff’s opulent Long Island beach house, was sold in an all cash deal over the asking price of $8.75 million. Several buyers submitted sealed contracts, with the U.S. Marshals Service selecting the unidentified buyers.

The 3,000 square foot beachfront home is located in the Montauk area of Long Island, New York and was built in the 1980s. The house has four-bedrooms, three-bathrooms and overlooks 182 feet of prime beach property with beautiful ocean views.

Madoff’s Montauk beach home was seized by the government in July and proceeds from the sale will go to the victims of his Ponzi scheme.

The Corcoran Group real estate firm handling the sale, referred to the interest in the property, as “fast and furious.”

The Madoff’s personal items and furniture will be sold at auction later this year.


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One Response to “Bernie Madoff’s Beach House Sold In Cash Deal Over $8.75 Mil Asking Price”

  1. bBernie Madoff#39;s/b Beach House Sold In Cash Deal Over $8.75 Mil b…/b | Pighunters.net on September 18th, 2009 3:21 am

    […] Original post: bBernie Madoff#39;s/b Beach House Sold In Cash Deal Over $8.75 Mil b…/b […]

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