The feds are putting swindler Bernie Madoff’s homes on the market.
The U.S Marshall’s service is selling his 4,000 square foot Upper East Side flat. That’s the one where authorities arrested him in his bathrobe. It’s also where they found 100 checks worth $173 million that he was planning to send to relatives and friends before he got nabbed.
Also on the block is his 8,700 square foot Mexican-tiled estate in Palm Beach. His 55-foot yacht, named Bull, is moored in nearby Fort Lauderdale. The listing price for that house is $8.5 million.
Finally, here, courtesy of the Corcoran Group, are photos of Bernie’s Montauk estate on New York’s Long Island. It’s got 3,000 square feet of space. Four bedrooms, three baths. It’s listed at $8.7 million. Corcoran, which also has the listing in Palm Beach, is donating its share of the commission to Bernie’s victims.
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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.