Madoff's Montauk House Sells For $9.4 Million

Madoff's beach house

While Bernie is busy making new friends in federal prison, the U.S. Marshals have announced that the deal on Madoff's Montauk home is officially closed. And the final selling price is $650,000 over the asking price! The $9.4 million deal was made back in September, but the Government was not allowed to reveal the final selling price until after the deal closed. Pamela Liebman, Corcoran CEO, told ABC News "Buyers were extremely enthusiastic about the location of the house and its potential and not at all put off by the fact that it was Bernie Madoff's house." Because really, look at that view!

The house is a four-bedroom on 1.2 acres of Montauk land, and according to USA Today is "closer to the surf than zoning laws now allow." The U.S. Marshals Service says this is "an important step forward" for the federal government in repaying the victims of his Ponzi scheme, but Federal authorities have said it is unlikely that the selling of his assets will recover enough money to pay everyone back in full, given that his fraud is estimated to be around $65 billion.

Madoff's Manhattan apartment and Palm Beach home remain on the market, for $9.9 million and $8.49 million respectively. Yachts not included.