The Hamptons home of disgraced Ponzi schemer Bernie Madoff has finally found a buyer after a 13-year wait.
Madoff – who died in 2021 while serving a 150-year prison sentence – was forced to sell the property in 2009 for just $9.41million to Steven Roth, head of the property’s original developers, Vornado Realty Trust.
The 3,000-square-foot estate rests on the oceanfront of the famous Long Island village of Montauk.
It was recently heavily featured on a Netflix docuseries highlighting Madoff’s crimes, ‘Madoff: The Monster of Wall Street.’
The Hamptons home of disgraced Ponzi schemer Bernie Madoff has finally found a buyer after a 13-year wait
The sale has been handled by Tim Davis of the Corcoran Group in a co-exclusive with Bespoke Real Estate.
Davis confirmed the news to DailyMail.com 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 initially listed for $21million before lowering the price to $16.5million. It’s unknown what the house has sold for.
Madoff originally bought the home in 1980 for $250,000, according to the New York Post. That price inflated for 2023 would be close to $1million, meaning that even when Madoff sold he made over nine times what he would have paid for it.
The property sits on about 180 feet of oceanfront property and is placed on about an acre and a half of land.
The developers who bought from Madoff renovated the place in 2011, complete…
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