Montauk

Madoff's Long Island Beach Home Fetches $9.41 million

Filed under: Estates, Crimes and Misdemeanors

The world's most accomplished Ponzi schemer -- right up until he got caught, that is -- finally lost his beach home. Bernie Madoff's Montauk house moved for $9.41 million, according to the U.S. Marshals Service, more than the $8.75 million for which it was listed. It sold on Friday, and the buyer is not being named. It only took a month to make the transaction happen.

Joseph Guccione, U.S. Marshal for the Southern District of New York, calls this "another step forward for the government," and though he didn't mention anything about the victims, one assumes that it's progress for them, too. After all, it would be nice if they got even a taste of this cash.

Several bidders tried to get their hands on Madoff's former home, which measures 3,000 square feet and has four bedrooms and three bathrooms. The losers can have another shot at Madoff glory, though, as properties in New York and Palm Beach, Florida, are listed. The former is on the market for $9.9 million, and the latter is listed for $8.49 million.

Madoff was unable to take a last walk through the halls of the Long Island residence, of course, because he's otherwise ~~detained~~ committed in Butner, North Carolina. But, he's adapting, having already thrown down on the block and earned himself some props.

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Tags: bernardmadoff, bernie madoff, BernieMadoff, butner, florida, madoff, madoffponzischeme, madoffscandal, montauk, new york, new york city, new york new york, NewYork, NewYorkCity, NewYorkNewYork, north carolina, NorthCarolina, palm bay florida, palm beach, PalmBayFlorida, PalmBeach, ponzi, ponzi scheme, PonziScheme

Madoff's Beach House Sells for More Than Asking Price

by Lisa Palladino (RSS feed) —

Filed under: Estates, Crimes and Misdemeanors

Madoff's Beach House Sells for More Than Asking Price

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

Will Madoff's Beach House Be A Teardown?

by Deidre Woollard (RSS feed) —

Filed under: Estates

The Madoff sell off continues. We've seen one of his boats listed for sale and now his Montauk, New York beach house is set to hit the market this week. CNBC shared with us their peek at the Ponzi-schemers vacation pad. The home at 3,014 square feet isn't exactly expansive. The contemporary style has an open floor plan but the rooms look a bit squished. The decorating seems a bit sparse. Leather sections face a stone fireplace and the wood floors are garnished with a smattering of small textile rugs. It's a nice home but it appears to be a bit dated.

One thing Madoff's place does have is a nice 1.2 acre lot with beautiful ocean views and a sense of privacy. Given the propensity for massive rebuilds in the area I'm guessing that Madoff's home might be bought as a teardown and a new grander home built in its place.

To federal regulators last year Madoff valued the house, which be bought in 1979, at $3 million but federal authorities believe it could bring closer to $8 million. The home has four bedrooms including a master bedroom with a private terrace. A small swimming pool overlooks the ocean and there is a private path to the beach. Madoff's belongings are being boxed up and inventoried. Some items such as fishing poles and golf clubs will be later be auctioned off. All proceeds will go toward Madoff's many victims.

UDPATE: This listing is live with Corcoran for $8.75 million.

Gallery: Bernie Madoff in Montauk

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Tags: beach house, BeachHouse, bernard madoff, BernardMadoff, montauk

Montauk Modern, Estate of the Day

by Deidre Woollard (RSS feed) —

Today's home is a contemporary beauty in the Startop Estates development of Montauk on the East End of Long Island, New York. The home is perched on an inclined property and the home has been custom built to work with the land, its angular shape contoured to the property in order to provide the best views. The five-bedroom home has a striking 60-foot-long heated gunite pool and a rooftop deck that offers long views of the Atlantic Ocean, Long Island Sound and Montauk Lake. The open floor plan is loft-like in style and the home's clean lines call for modern furnishings. To keep you warm on cool nights there are three indoor fireplaces and two outdoor ones. Large windows let in as much light as possible and materials including beige concrete, Andalusian Brownstone, sisal carpeting and hand-scraped limed quarter sawn oak make up the floors of the home. It was listed at $5.8 million and has been reduced to $3.9 million.

Gallery: Modern In Montauk

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

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Tags: estate of the day, EstateOfTheDay, long island, LongIsland, montauk

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Cavi Launches New Line at Surf Lodge in Montauk

by Jared Paul Stern (RSS feed) —

Filed under: Apparel, Events, Charity, Sports, Men's Style

CAVI, the luxury menswear line known for its distinctive designs as worn by the likes of Jay-Z, Ne-Yo and 50 Cent, previewed its new surf-inspired CAVI Sport collection during a party at the Surf Lodge in Montauk on Aug. 7. The latest addition to the brand, which as we reported is also giving NASCAR a much needed makeover, consists of colorful and free-spirited board shorts, pima cotton tees, layered jackets, and hoodies. Real Housewives of New York City's Alex McCord and Simon Van Kempen were among the guests who were treated to complimentary cocktails and left the event with gift bags featuring swag from Blue Star Jets, Solstice Sunglass Boutique, and items from the CAVI Sportswear line. The following day, CAVI Sportswear Division partnered with the 11th Annual Rell Sunn Surf Memorial and East End Classics Foundation, Inc., to pay tribute to iconic surfer, Rell Sunn at Montauk's Ditch Plains Beach. The event, which benefits families with hardships on the East End, featured surfing contests, auctions, raffles, valuable prizes, and a great day of riding the waves.

Tags: Blue Star Jets, BlueStarJets, Cavi, Hamptons, Montauk, Real Housewives of New York City, RealHousewivesOfNewYorkCity, surf, Surf Lodge, surfing, SurfLodge

Tuesday Weld in New York, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Actress Tuesday Weld has been trying to sell her home in Montauk, New York for a couple of years now. The home occupies a nice plot of land on 1.2 acres perched above the ocean dunes. The property includes rolling green lawns, a guest cottage and a brick-surrounded pool. The large five-bedroom home has a cozy brick fireplace in the living room, wood floors and an open country kitchen. The home's style seems a bit dated and the bathrooms likely need renovations but it's great space in a gorgeous area. The home was once listed at $9.9 million and now sits at $7.75 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

[via Real LI]

Gallery: Tuesday Weld in Montauk

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Tags: estate of the day, EstateOfTheDay, montauk, new york, NewYork, real estate, RealEstate, tuesday weld, TuesdayWeld

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Swimsuit Model Makes the Scene at Hamptons Rallye

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Events, Charity

On July 26 Mercedes-Benz hosted the 2nd Annual Hamptons Pursuit "Road Rallye", a 60-mile scavenger hunt from Bridgehampton to Montauk. Car enthusiasts including local East End VIPs drove vintage, classic, or just plain cool cool cars including several amazing Mercedes looking for clues and answering trivia questions at checkpoints, all while raising money for The Retreat, a non-profit program that supports victims of domestic violence throughout Long Island. Stunning Sports Illustrated Swimsuit Issue model Julie Henderson (above) and Top Chef's Sam Talbot attended a barbecue following the auto-scavenger hunt at Kalbacher's Auto in East Hampton where road stories were shared with good food and drink during an auction of classic cars.

Tags: Bridgehampton, classic cars, ClassicCars, Hamptons, Julie Henderson, JulieHenderson, Long Island, LongIsland, Mercedes-Benz, model, Montauk, Sports Illustrated Swimsuit Issue, SportsIllustratedSwimsuitIssue, Top Chef, TopChef

Audemars Piguet Adopts A Highway In A Limited Edition Watch

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

Audemars Piguet Royal Oak Offshore Montauk Highway watch

I've never before seen a luxury timepiece made in honor of a road. Scratch that, there was a Route 66 edition Hamilton watch, but that pales in comparison to the luxury of Audemars Piguet. If there was a luxury-themed road to honor, it would be the Montauk Highway that runs from New York City to the Hamptons in New York. The 100 mile stretch of highway is the popular getaway path for people wanting to enter the decadent lifestyle of the Hamptons. In addition to parties and beachfront properties, the luxury lifestyle of the Hamptons makes it an ideal place for watch lovers. This limited edition of 300 pieces watch is the Audemars Piguet Royal Oak Offshore Montauk Highway watch.

The steel-cased watch has some unique colorings that include the off-white dial with lots of aquamarine trim against some chocolate brown. The avant garde colors look nice against the handsome classic watch. Inside is an in-house made Audemars Piguet automatic chronograph movement that is in most of the Royal Oak Offshore chronograph watches. The watch comes in a special box for the limited edition also meant to celebrate the famous highway. In opposition to the title of the article, no money (as far as I know) is going to the highway itself, but you get the symbolic connection. The Montauk Highway watch will be available in New York City, Long Island, and Bal Harbour Florida for $20,500.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Tags: audemars piguet, AudemarsPiguet, hamptons, highway, limited edition, LimitedEdition, montauk, royal oak offshore, RoyalOakOffshore, timepiece, watch

Models & Moguls Flock to Montauk Seaplane

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Travel & Hotels, Yachts & Sailing, Wings

This summer, luxury charter service V1 Jets opened up its seaplane service from Manhattan to the Hamptons (formerly reserved for members) to anyone with the price of a ticket, and it's proved to be very popular with the gliteratti. The 40 minute trip on an 8-passenger Cessna, which costs $495 one-way, has been taken by the likes of models Adriana Lima and Petra Nemcova, actors Pierce Brosnan and Jeremy Piven, and mogul Barry Diller. V1 Jets was founded in 2003 by hedge fund manager Andrew Zarrow who envisioned a way to utilize the excessive amount of "dead legs" created by private aircraft returning empty after delivering clients to their destinations, saving money and resources in the process.

Tags: Adriana Lima, AdrianaLima, Cessna, Hamptons, Manhattan, Montauk, Pierce Brosnan, PierceBrosnan, Private jets, PrivateJets, Seaplane, V1 Jets, V1Jets

35 Oceanfront Acres in Montauk, Estate of the Day

by Lisa Palladino (RSS feed) —

Filed under: Estates, Yachts & Sailing

The New York Times periodically picks a price and then does a "What You Get for ... $xxx,xxx" piece in its Real Estate section, comparing homes in three cities. I've never seen a "What You Get for ... $35,000,000," article so here it is, at least in one city: This estate in Montauk (no direct link, so go here, and enter Web ID H34007) is set on 35.5 acres between the Atlantic Ocean, a freshwater pond and fields and meadows, with 400 feet of ocean frontage. The house is 7,000 square feet and has a tiled roof, plus there's 50% more living space than the house itself, thanks to the 3,500 square feet of mahogany decking. Built in 1994, there are three levels, comprising five bedrooms, five baths, living and dining rooms with 16-foot ceilings and walls of glass that overlook the ocean and grounds. For cooking (or, more likely, where your staff will be doing the cooking), there's a chef's kitchen. Also: a breakfast room, an office, a screening room with a state-of-the-art JBL system, and a garage. A path leads through private gates to the beach.

Gallery: 35 Oceanfront Acres

Tags: estate, estate of the day, EstateOfTheDay, estates, Montauk, ocean, oceanfront, oceanfront real estate, OceanfrontRealEstate

The Hamptons: Behind the Hedges & Beyond the Dunes

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Books

In his preface to Jake Rajs' beautiful new book, Beyond the Dunes: A Portrait of the Hamptons (Monacelli Press, $60), New Yorker architecture critic Paul Goldberger notes the photographer "shows us a vision of the Hamptons at once beautiful and fragile, prosperous but not smug." No easy feat when it comes to portraying such a storied locale, and Rajs manages it magnificently. The book is divided into geographical sections of the South Fork: Westhampton, Quogue and Hampton Bays; Shinnecock and Southampton; Water Mill, Bridgehampton and Sagaponack; Sag Harbor and the Springs; East Hampton and Amagansett; and Montauk (or, as we like to call them: No Money, Old Money, New Money, Some Money, More Money and What Money?). Along the way he finds everything from privet hedges to pumpkin fields and fishermen to polo players. Pictured here is an imposing "cottage" on Southampton's fabled Gin Lane. The book won't be out for another couple of weeks, but you can pre-order it now on Amazon. Meanwhile see the gallery for a preview.

Gallery: Beyond the Dunes

Tags: East Hampton, EastHampton, Hamptons, Jake Rajs, JakeRajs, Long Island, LongIsland, Montauk, Paul Goldberger, PaulGoldberger, South Fork, Southampton, SouthFork, The New Yorker, TheNewYorker

Modern in Montauk, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Oh my, my in Montauk. Today's estate is an ultra-modern compound on four acres in Montauk, New York. The lot is above the shoreline and offers ocean views and a private path leads down to 300 feet of beach. The compound includes a main house and a guest house. The design wouldn't work for everyone and is a sharp contrast from some of the other houses in the area. It's angular in the extreme and definitely toes the line between absolute brilliance and eyesore (the kitchen in particular seems oddly designed). The home includes two kitchens, a gym, decks, and a pool. I don't know if it really worth $35 million based on the pictures I have seen but I'd love the chance to roam through it and find out. More pictures are at the co-listing site. After the jump, one groovy home theater.

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Tags: estate of the day, montauk, new york, real estate

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