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

Mystery buyer snaps up Bernie Madoff’s 3,000-square-foot oceanfront home in Montauk – 13 years after Ponzi schemer was forced to sell it when he was jailed – after buying it for just $250,000

  • Bernie Madoff’s Hamptons by the Sea estate has been purchased for an undisclosed sum. It changed hands for $9.41 million in 2009 when US Marshals sold it and the proceeds went to benefit Madoff’s victims
  • Madoff, who died in 2021 while serving a 150-year sentence, bought the Montauk estate in 1980 for $250,000 — about $1 million today

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

Madoff – who died in 2021 while serving a 150-year sentence – was forced to abandon the property, and it was sold by US Marshals in 2009 for $9.41 million to Steven Roth, head of the property’s original developers, Vornado Realty Trust.

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

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

Disgraced Ponzi schemer Bernie Madoff's Hamptons home has finally found a buyer after 13 years of waiting

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

The property sits on approximately 180 feet of oceanfront land in Montauk and approximately an acre and a half. The sale was handled by Tim Davis of Corcoran Group in co-exclusivity with Bespoke Real Estate

The property sits on approximately 180 feet of oceanfront land in Montauk and approximately an acre and a half. The sale was handled by Tim Davis of Corcoran Group in co-exclusivity with Bespoke Real Estate

The sale was handled by Tim Davis of Corcoran Group in co-exclusivity with Bespoke Real Estate.

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

“The house is under contract and will close in early March, all other details are confidential at this time,” he said.

The property was originally listed for $21 million before the price was reduced to $16.5 million. It is not known what the house was sold for.

According to the New York Post, Madoff originally bought the home in 1980 for $250,000. That inflated price for 2023 would be nearly $1 million, meaning even selling Madoff he made more than nine times what he would have paid for it.

The house was recently featured heavily in a Netflix documentary highlighting Madoff's crimes, Madoff: The Monster of Wall Street.

The house was recently featured heavily in a Netflix documentary highlighting Madoff’s crimes, Madoff: The Monster of Wall Street.

The 3,000 square foot property is located on the oceanfront of the famous Long Island village of Montauk

The 3,000 square foot property is located on the oceanfront of the famous Long Island village of Montauk

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

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

Madoff pictured with celebrity wife Ruth. The Montauk Property was sold by US Marshals in 2009 to Steven Roth, head of the property's original developers, Vornado Realty Trust, for $9.41 million. Madoff, who ran the largest Ponzi scheme in US history, died of natural causes at the Federal Correctional Facility in Butner, North Carolina, in 2021, 12 years after serving a 150-year sentence

Madoff pictured with celebrity wife Ruth. The Montauk Property was sold by US Marshals in 2009 to Steven Roth, head of the property’s original developers, Vornado Realty Trust, for $9.41 million. Madoff, who ran the largest Ponzi scheme in US history, died of natural causes at the Federal Correctional Facility in Butner, North Carolina, in 2021, 12 years after serving a 150-year sentence

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 Federal Correctional Facility in Butner, North Carolina, where he was serving 12 years after a 150-year sentence.

A year before his death, he had asked to be released earlier, claiming he was dying of kidney disease and had just 18 months to live.

The judge denied his request, saying he had committed one of the most egregious financial crimes in history and must pay for it.

His wife Ruth was the only member of his family who supported him.

She never divorced him, but claimed not to have spoken to him since her son Mark’s suicide in 2010.

Ruth has now been hiding 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 remarried and was still married to Stephanie Madoff Mack when he took his own life in 2010.

Madoff robbed victims of $64.8 billion from 37,000 victims in 136 countries, taking money from one to pay for the other for two decades before finally being arrested in 2008 after his two adult sons reported him had. Many of his victims came from the Jewish community, where Madoff had been a major philanthropist.

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

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

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https://www.dailymail.co.uk/news/article-11673307/Bernie-Madoffs-Hamptons-home-finally-bought-disgraced-Ponzi-schemer-forced-sell.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Bernie Madoff’s Hamptons home was eventually purchased after the disgraced Ponzi schemer was forced to sell it

Bradford Betz

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