For Sale: Madoff's $8.75 Mil Oceanfront Hamptons Mansion
Neighbors include Robert DeNiro and Ralph Lauren.
Sept. 1, 2009— -- The luxury beachfront home of now-imprisoned Bernie Madoff, purchased with money stolen from his victims of his $65 billion Ponzi scheme, is up for grabs to the first buyer who offers $8.75 million for the oceanfront estate in the Hamptons, Long Island.
With four bedrooms and three baths, the estate in the village of Montauk spans 3000 square feet and boasts panoramic ocean views. Famous neighbors include Ralph Lauren and Robert DeNiro.
"As soon as you walk into it, there is an understated elegance you don't see from the outside," said U.S. Marshal Roland Ubaldo, who said officials are standing firm on the asking price – the market value of the home – which will go towards compensating Madoff's victims. The home is listed through the Corcoran Group.