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Steve Roth Again Trying to Sell Madoff’s Former Montauk Home

Ponzi Scheme

Steve Roth Again Trying to Sell Madoff’s Former Montauk Home


From left: Bernie Madoff and Steven Roth in front of 216 Old Montauk Highway (Getty Images, Compass, iStock)

For the umpteenth time, Steve Roth is hoping the stain of Bernie Madoff’s crimes won’t stop a rich buyer from taking their chances at the notorious Ponzi scheme’s former Montauk home.

The Vornado CEO and his wife, Daryl, have put the home at 216 Old Montauk Highway back on the market, Realtor.com reported. The owners are seeking $22.5 million for the property, a 25 percent increase from what they tried to sell it for only two years ago.

The home is sited only 150 feet from the Atlantic Ocean. The Roths have updated the house to include a living room with a stone fireplace, an eat-in kitchen with patio access, a primary bedroom that opens out to a terrace, an outdoor pool with cabana and a gym.

The couple enlisted designer Thierry Despont to update the 3,000-square-foot property. In 2018, they said they were looking to sell because they bought another place close to their East Hampton home for visitors.

The Roths shelled out $9.4 million in 2009 for the home in a sale handled by the U.S. Marshals Service. Proceeds from the sale went toward victims of Madoff’s Ponzi scheme. Madoff stole $65 billion and was sentenced to 150 years in prison, where he died in 2021.

Madoff reportedly purchased the home in 1980 for $250,000.

The couple has been struggling to sell the property for years, though. They first listed the property in 2018 for $21 million, cutting…

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