Madoff's Beach House Sells for More Than Asking Price

by Lisa Palladino (RSS feed)
Sep 17th 2009 at 11:01PM

Another tiny dent soon will been made in the repayment of the funds owed to those duped by Bernie Madoff. His 3,000-square-foot Montauk, N.Y., beach house sold this week in an all-cash deal for more than the $8.75 million asking price. Neither the buyer's name nor the exact amount of the sale has been released. The four-bedroom, three-bath home is located on 182 feet of prime beach property.

The house was only on the market a few weeks. See more about the house, and more photos, in this story my colleague Deidre did on September 1, and check out this New York Times slideshow.

Tags: beach, Bernie Madoff, BernieMadoff, estate, Madoff, Montauk, real estate, RealEstate