HomeU.S.Bernie Madoff's Hamptons home was finally bought after the disgraced Ponzi schemer...

Bernie Madoff’s Hamptons home was finally bought after the disgraced Ponzi schemer was forced to sell it



Disgraced Ponzi schemer Bernie Madoff’s Hamptons home has finally found a buyer after a 13-year wait.

Madoff — who dies in 2021 while serving a 150-year sentence — was forced to sell the property in 2009 to the property’s original developer, Steven Roth, head of Vornado Realty Trust, for just $9.41 million.

The 3,000-square-foot estate is located on the oceanfront in the famous Long Island village of Montauk.

It was recently featured extensively in a Netflix docuseries highlighting Madoff’s crimes, ‘Madoff: The Monster of Wall Street’.

Disgraced Ponzi schemer Bernie Madoff’s Hamptons home finally finds a buyer after 13 years of waiting

Corcoran Group’s Tim Davis handled the sale co-exclusively with Bespoke Real Estate.

Davis confirmed the news to DailyMail.com on Tuesday night.

‘The home is under contract and will close in early March, all other details are confidential at this time,’ he said.

The property was initially listed for $21million before the price was reduced to $16.5 million. It is unknown what the home sold for.

According to the New York Post, Madoff originally bought the home in 1980 for $250,000. The assumed value for 2023 would be closer to $1 million, meaning Madoff made more than nine times what he would have paid for it even when he sold it.

The property sits on approximately 180 feet of oceanfront property and is set on approximately an acre and a half of land.

The developers who bought it from Madoff renovated the place in 2011 with a heated swimming pool.

Madoff — who dies in 2021 while serving a 150-year sentence — was forced to sell the property in 2009 to the property’s original developer, Steven Roth, head of Vornado Realty Trust, for just $9.41 million.

The 3,000-square-foot estate is located on the waterfront in the famous Long Island village of Montauk.

It was recently featured extensively in a Netflix docuseries highlighting Madoff’s crimes, ‘Madoff: The Monster of Wall Street’.

The Corcoran Group’s Tim Davis handled the sale exclusively with Bespoke Real Estate

The news comes after Madoff’s estate was forced to take it off the market without a buyer.

Madoff, who ran the largest Ponzi scheme in US history, died of natural causes on April 14, 2021 at the Butner Federal Correctional Facility in North Carolina, where he was serving 12 years of a 150-year sentence.

A year before his death, he pleaded for an early discharge, claiming he was dying of renal kidney disease and had only 18 months to live.

The judge rejected his request, saying he had committed one of the most serious financial crimes in history and would have to pay for it.

His wife Ruth was the only member of his family who remained by his side.

Madoff, who ran the largest Ponzi scheme in US history, died of natural causes on April 14, 2021 at the Butner Federal Correctional Facility in North Carolina, where he was serving 12 years of a 150-year sentence.

The property sits on approximately 180 feet of oceanfront property and is set on approximately one and a half acres of land.

The developers who bought it from Madoff renovated the place in 2011, complete with a heated swimming pool.

She never divorced him, but claims she hasn’t spoken to him since their son Mark’s suicide in 2010.

Ruth is now holed up in a $3.8 million home in Old Greenwich, Connecticut with the family of Mark’s first wife, whom he divorced in 2000 after having two children with her. He went on to remarry Stephanie Madoff Mack and was still married to her when she committed suicide in 2010.

Madoff defrauded 37,000 victims in 136 countries out of $64.8 billion, taking one person’s money to pay off another, before finally being arrested in 2008 by his two grown sons. Many of his victims came from the Jewish community where Madoff was a major philanthropist.



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