A Hamptons mansion that once belonged to late Ponzi-scheme mastermind Bernie Madoff is on the market for $22.5 million — take a look inside
American financier Bernie Madoff ran the largest Ponzi scheme in US history, cheating his clients of almost $65 billion over decades. In 2009, he was sentenced to 150 years in prison for his crimes. Madoff died from natural causes in April while serving his sentence.
Madoff owned several homes prior to his arrest. The US government seized the Montauk beach house when he went to jail. It sold in 2009 for $9.4 million, property records show, and proceeds from the sale of the estate were used to repay his victims.
Steven Roth, the CEO of Vornado Realty Trust, bought the house in 2009, the Wall Street Journal previously reported, citing property records. The alternative address currently tied to the house is Vornado Realty Trust’s New York headquarters, County Office property ownership records show. Roth did not immediately respond to Insider’s request for comment.
The owners have been trying to sell the house to no avail since 2018, property records show. The house was listed on the market in 2018 with an asking price of $21 million and hit a listing-price low of $17.9 million in 2020.
The house was put back on the market in April for $22.5 million — its highest asking price thus far, per property records.
Tim Davis with The Corcoran Group holds the listing.