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Bernie Madoff’s Former Hamptons Home Is Back On The Market For $22.5 Million

Ponzi Scheme

Bernie Madoff’s Former Hamptons Home Is Back On The Market For $22.5 Million

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Late disgraced financier Bernie Madoff’s former Hamptons home is back on the market, this time for $22.5 million. Madoff, who orchestrated one of, if not the largest, Ponzi schemes in history, was arrested in 2008 and pled guilty to 11 felonies, including securities fraud, wire fraud, and money laundering. He was sentenced to 150 years in prison and died at the age of 82 in 2021 during his sentence.

However, before he was sent to federal prison, he owned an impressive real estate portfolio, which included this beachfront Montauk estate. He purchased the estate in 1980 for just $250,000, according to The New York Post. After he was arrested in December 2008, his properties were seized by U.S. Marshals, and in 2009, Vornado Realty Trust chairman, Steven Roth, purchased the property for $9.41 million. All of the proceeds were donated to the victims of Madoff’s Ponzi scheme. Roth is the current seller.

The three-bedroom, three-bathroom home at 216 Old Montauk Highway is located in one of Hampton’s most covetable areas. The property spans 1.5 acres and has 180 feet of direct beachfront along the Atlantic Ocean. After he purchased the home, Roth enlisted renowned architect and interior designer Thierry Despont to redesign the space.

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