Daily Real Estate News | October 19, 2009 |
Madoff's Beach House Sold
Bernard Madoff's Montauk, N.Y., beach house sold last week for $9.41 million. The property, which has gorgeous view of the Atlantic, was listed at $8.75 million by the Corcoran Group.
Proceeds will go toward reimbursing victims of Madoff’s Ponzi scheme, which cost investors as much as $65 billion.
The remaining Madoff properties in New York and Palm Beach, Fla., have been listed for $9.9 million and $8.49 million respectively, a government statement said.
Source: Reuters, Grant McCool (10/16/2009)
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