Bernie Madoff’s Former Hamptons House Is Again On The Marketplace For $22.5 Million

Overdue disgraced financier Bernie Madoff’s former Hamptons house is again available on the market, this time for $22.5 million. Madoff, who orchestrated considered one of, if no longer the most important, Ponzi schemes in historical past, used to be arrested in 2008 and pled in charge to 11 felonies, together with securities fraud, cord fraud, and cash laundering. He used to be sentenced to 150 years in jail and died on the age of 82 in 2021 right through his sentence.

Then again, prior to he used to be despatched to federal jail, he owned an excellent actual property portfolio, which integrated this beachfront Montauk property. He bought the property in 1980 for simply $250,000, consistent with The New York Publish. After he used to be arrested in December 2008, his homes have been seized through U.S. Marshals, and in 2009, Vornado Realty Consider chairman, Steven Roth, bought the valuables for $9.41 million. All the proceeds have been donated to the sufferers of Madoff’s Ponzi scheme. Roth is the present dealer.

The 3-bedroom, three-bathroom house at 216 Previous Montauk Freeway is situated in considered one of Hampton’s maximum covetable spaces. The valuables spans 1.5 acres and has 180 ft of direct beachfront alongside the Atlantic Ocean. After he bought the house, Roth enlisted famend architect and internal clothier Thierry Despont to revamp the distance.

“It used to be a intestine renovation, and so they modified the structure of the home,” says list agent Tim Davis of Corcoran. “[Steven’s wife] Daryl Roth controlled the method and labored with Thierry Despont. It’s of the very best quality and undying, particularly making an allowance for it used to be designed in 2009. For a seashore area, it’s one this is maintained somewhat broadly and is in move-in able best possible situation.”

The house is roughly 3,000 sq. ft and considered one of its key options is the expansive front room with curved, light-wood ceilings and large, double-height home windows overlooking the sea. It has a vivid and ethereal vibe in each and every room, partially because of the huge home windows that permit in quite a lot of herbal gentle. Despont’s elegant, destination-centric taste is absolute best noticed throughout the impartial tones in each and every room and luxurious textural parts that make this beachside house so heat and dreamy.

“I feel what you don’t really feel from the photographs is the size of the lounge,” Davis says. “It comes off as being so much smaller than what it in fact is. The amount of that room, and the perspectives of the sea from that area is somewhat one thing.”

The house opens onto a big coated terrace and has each indoor and outside eating. There’s a big chef’s kitchen, best possible for circle of relatives gatherings, particularly in the summertime months. There’s additionally a big pool off to the aspect. Perspectives abound from each and every outside area as neatly.

“It’s arguably in the most efficient location alongside the oceanfront in Montauk,” Davis says. “It’s located down a non-public driveway and isn’t actually visual to neighbors. The placement of the home could also be somewhat distinctive. It’s no longer on a bluff with stairs to the seashore, as maximum Montauk properties are. It’s at some extent the place the seashore is large and lengthy and will provide you with implausible get admission to. It’s lovely uncommon in Montauk.”