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Archive for Friday, September 18, 2009

Madoff’s beach home sells for above $8.75M

September 18, 2009

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— It boasts ocean views, an infamous former owner — and now a buyer willing to pay more than $8.75 million.

An unidentified would-be buyer or buyers snapped up Bernard Madoff’s Long Island beach house within days after the U.S. Marshals Service put the seized property up for sale, a spokeswoman for the broker the Corcoran Group said Thursday.

Spokeswoman Anne Lacombe said the fallen money manager’s Montauk retreat was under contract for more than its $8.75 million asking price. She didn’t have the exact figure, any information on the intended buyer or the closing date.

U.S. Marshal Joseph R. Guccione said in a statement the potential buyer’s identity and price were being kept private to protect a deal that has yet to close.

The Marshals Service put the 3,000-square-foot house on the market Sept. 1 to help repay victims of Madoff’s massive investment fraud.

The listing attracted an onslaught of responses and numerous bids, Lacombe said. She said the highest bid was taken.

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