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Sales Price of Madoff’s Homes Dropping

Bernie Madoff

Bernie Madoff

By Allan Lengel
ticklethewire.com

Let’s just hope Bernie Madoff’s ego isn’t bruised knowing that people aren’t immediately snapping up his swanky properties in Manhattan and Palm Beach, Fla.

Reuters news service reports that the government has had to lower the asking price, the result of a a soft market.

“Madoff’s 4,000-square-foot duplex Manhattan penthouse, ‘perched atop a distinguished white-glove prewar cooperative’ according to the broker Sotheby’s International Realty, is now being offered for $8.9 million, 10 percent below its initial $9.9 million asking price,” Reuters reported.

The price of the 8,750-square-foot Palm Beach home was slashed 7 percent to $7.9 million, the news agency reported. The proceeds will go to help pay back some of the folks Madoff ripped off.


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